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Burundi
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Burundi has a relatively small, undeveloped financial sector that is dominated by banking. The Government retains stakes in several banks.

The Bank of the Republic of Burundi (Banque de la Republique du Burundi, BRB) is the central bank of Burundi. The bank was established in 1966 and has Salvator Toyi as its current governor who has been assuming the position since 2007.

Burundi Banks

There are currently eight main commercial banks in Burundi, of which three have private capital (IBB, BGF, and Finalease Bank). These are: Banque de Gestion et de Financement (BGF), Banque Burundaise pour le Commerce et l’Investissement (BBCI), Interbank Burundi (IBB), Banque Commerciale du Burundi (BANCOBU), Finalease Bank, Banque de Credit de Bujumbura (BCB), Societe Burundaise de Banque et de Financement (SBF).

Currency

The Burundian Franc (currency sign: FBu, currency code: BIF) is Burundi’s official currency. It is nominally subdivided into 100 centimes, although coins have never been issued in centimes since Burundi began issuing its own currency. There are plans to introduce a common currency, a new East African shilling, for the five member states of the East African Community by the end of 2015. The Bank of Burundi issues its banknotes in denominations of 10, 20, 50, 100, 500, 1000, 2000, 5000 and 10000 francs.

The Burundian Franc per US$ rate is 1,229. Burundi’s inflation rate was estimated at 11.1% in 2009.


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