Bank of Eritrea

The Bank of Eritrea (Italian for Bank of Eritrea) was founded in 1914, Bank of the colony Italian Eritrea and today is the central bank of the State of Eritrea.

The President of the Central Bank is Kibreab Woldemariam. The headquarters of the bank is located in the capital, Asmara, the Maekel region.

The Central Bank of Eritrea is interested in stimulating foreign investment as well as on import of capital goods such as industrial machinery and agricultural equipment. The central bank, although a Regierungsentität is formally independent of the Ministry of Finance; the governor and the political committee of the Bank on Eritrea formulate and implement the policy with incorporation of the Treasury. Nevertheless, it is travelers permitted to bring foreign currency into the country; all transactions are, however, carried out in Nakfa.