State Bank of Uskor
|State Bank of Uskor |
|Headquarters||Tyrshavn, Denton, Uskor|
|Established||October 27, 2016|
|Minister Responsible||Claire Nymoria (as Minister for Internal Affairs)|
|Central bank of||Uskor|
The State Bank of Uskor (SBU) is the central bank and the only savings bank of the Socialist Commonwealth of Uskor. It was established on October 27, 2016.
The State Bank is one of two organisations of the Ministry of Internal Affairs responsible for maintain Uskor's economy, the other being the State Planning Commission.
The State Bank pursues a Marxist Leninst approach to economic matters.
Foundation and Role
The foundation of the bank was part of the implementation of the Revolutionary Economic Policy. On 26 October 2016, the Council of State passed a resolution for the founding of the State bank for Uskor. It began operations on 27 October 2016.
The main functions of the State Bank are:
- With the State Planning Commission develop plans for the Uskorian economy;
- To define and implement the monetary policy and the exchange rate policy within a Marxist-Leninist framework;
- To issue banknotes and coins as legal tender within Uskor;
- Any other economic matter proscribed to it