Central Bank of Aruba - Open Swiss Banking Account

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The Bank is a legal entity in itself within the public sector. Its main purpose is to maintain the internal and external value of the Aruban florin, and to promote the soundness and integrity of the financial system.
The Centrale Bank van Aruba (the Bank) started its operations on January 1, 1986, when Aruba obtained its status as an autonomous country within the Kingdom of the Netherlands. Prior to this period, Aruba formed part of the Netherlands Antilles under jurisdiction of the Bank of the Netherlands Antilles.

The bank is a legal entity in itself (sui generis) with an autonomous position within Aruba's public sector. With the inception of the bank, the Aruban florin was brought into circulation at the same rate as the Netherlands Antillean guilder, pegged to the U.S. dollar at a rate of Afl. 1.79 (= 1 NAf.) = US$1.00. This exchange rate has remained unchanged since then.



The principle tasks of the bank are to maintain the internal and external value of the florin and to promote the soundness and integrity of the financial system.

The bank performs these tasks through a variety of activities, which include:

Formulating and implementing monetary policy and related measures through, among other things, regulating bank credit and liquidity;

Supervising the activities of the commercial banks and other financial institutions by, inter alia, monitoring their liquidity and solvency to protect the interests of depositors and policyholders, and to maintain monetary and financial stability and integrity in Aruba;
Managing Aruba's official gold and foreign exchange reserves;
Regulating international payments according to the State Ordinance on foreign exchange transactions (A.B. 1990 No. GT 6);
Bringing bank notes into circulation to meet the needs of businesses and the general public;
Issuing treasury bills and government bonds as an agent for the government; and
Monitoring economic and financial developments

The economy of Aruba is an open system, with tourism currently providing the largest percentage of the country's income. Because of tourism's rapid growth in the last 80 years, related industries like construction have also flourished. Other primary industries include oil refining and storage, as well as offshore banking. Although the island's poor soil and low rainfall limit its agricultural prospects, aloe cultivation, livestock, and fishing contribute to Aruba's economy. In addition, the country also exports art and collectibles, machinery, electrical equipment, and transport equipment. Aruba's small labor force and low unemployment rate have led to a large number of unfilled job vacancies, despite sharp rises in wage rates in recent years.

With such a large part of its economy dependent on tourism, the Aruban government is striving[citation needed] to increase business in other sectors to protect against possible industry slumps. Their current focus is on expanding technology, finance, and communications

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Swift codes of ARUBA BANK, LTD

 
SWIFT Code Equivalent SWIFT/BIC Codes SWIFT Code Breakdown Bank Name & Address Branch Name
ARUBAWAX ARUBAWAX XXX
ARUBAWAXXXX
ARUB AW AX
ARUB AW AX XXX
Bank code: ARUB
Country Code: AW
Location Code: AX
Branch Code : XXX
ARUBA BANK, LTD

ORANJESTAD, ARUBA 

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