National Bank of the Republic of Belarus

The National Bank of the Republic of Belarus is the central bank and state body of the Republic of Belarus.

Areas of activity

Regulation of banks

Main article: Banks in Belarus

History

2025: Appointment of Roman Golovchenko as the new head of the National Bank of Belarus

President of Belarus Alexander Lukashenko on March 10, 2025 appointed a new head of the National Bank of the Republic. Roman Golovchenko, who previously served as the country's prime minister, became the chairman of the board of the National Bank. Read more here.

2022: Withdrawal of the euro from the basket of foreign currencies

In December 2022, the National Bank of Belarus announced that it was withdrawing the euro from the basket of foreign currencies. Russian ruble The share will be 60%, the share dollar will be 30%, 10% for the Chinese yuan.

2020: Blocking the site by the Cyber ​ ​ Guerrilla hacker group

On October 26, 2020, the National Bank of Belarus survived a cyber attack in which its website failed. Responsibility for the blocking was assumed by the anonymous hacker group "Cyberpartisans."

The National Bank did not really want to join the people's strike. We convinced them, - said in a message on the Telegram channel of the group.

We are talking about a national strike on October 26, 2020 - it was previously announced by Svetlana Tikhanovskaya, whom the opposition considers the winner of the presidential elections in Belarus.

Hacker group blocked the website of the Central Bank of Belarus

Problems with access to the page of the Belarusian Central Bank began on October 26, 2020 at about 13.00 Moscow time and started working again at about 15:00. The site stopped loading, and browsers reported that it was impossible to find the IP address of its server.

The press service of the Central Bank confirmed the failure of the site caused by cyber attacks. At the same time, the regulator did not disclose information about where they came from.

The reason for the temporary lack of access of Internet users to the website of the National Bank of the Republic of Belarus, observed from 12:45 to 15:00 on October 26, 2020, was an external DDoS attack. Currently, the National Bank, together with authorized state bodies, is taking the necessary measures to ensure the uninterrupted operation of the website of the National Bank, the regulator said in a statement.

The websites of state television channels, the President of Belarus, the Ministry of Internal Affairs, the Academy, the MINISTRY OF INTERNAL AFFAIRS Belarusian Chamber of Commerce and Industry, etc. were also subjected to cyber attacks. In particular, on September 26, the online broadcast of evening news on the Belarus 1 TV channel was interrupted. The personnel of beating protesters at street rallies was shown on the air. The hacker movement "cyber guerrilla" arose after the presidential elections, the results of which caused mass protests in Belarus.^[1]

1990: The National Bank of the Republic of Belarus was established on the basis of the Belarusian Republican Bank of the State Bank of the USSR

The restructuring that began in 1985 laid the foundation for the transition of the existing monetary system to a new qualitative state, the beginning of the formation of a two-level banking system. In December 1990, the Supreme Council of the Belarusian SSR adopted Laws "On the National Bank of the Republic of Belarus" and "On Banks and Banking Activities in the Republic of Belarus." All institutions of banks of the USSR in Belarus were declared its property. On the basis of the Belarusian Republican Bank of the State Bank of the USSR, the National Bank of the Republic of Belarus was created. Specialized state banks have been transformed into joint-stock commercial banks: Belagroprombank, Belvnesheconombank, Belbusinesbank, Belpromstroybank, as well as the Savings Bank.

1959: Functions of specialized banks transferred to the State Bank and the Construction Bank of the USSR

Soon after the completion of the recovery period, a corresponding restructuring of the monetary system and further expansion of the bank's credit ties with the national economy were required. Already in 1959, the banking system was reorganized. Specialized banks were abolished, and their functions were transferred to the state bank and the Construction Bank of the USSR. Since 1959, the banking system of Belarus has been represented by institutions of the state bank and Promstroybank of the USSR.

1943: Reopening in Gomel

On September 9, 1943, by order of the Council of People's Commissars of the USSR, it was closed. It resumed its work in October 1943 and moved to Gomel in December, and to Minsk in July 1944.

One of the most important functions of the state banking system, including the Belarusian one, at all stages of its development was and remains the work on organizing money circulation. In this regard, a significant event was the implementation of monetary reform in 1947.

1941: The Belarusian office of the USSR State Bank was evacuated to Karaganda, and later to Gorky

In the pre-war 1940, 10 regional offices and 184 branches of the state bank functioned in Belarus. They employed 4087 people. The Great Patriotic War was a real test for Belarusian banking workers, as well as for the whole people. On June 25, 1941, the Belarusian office of the USSR State Bank was evacuated to Tambov, and in November to Karaganda, in March 1942 it moved to Gorky (Nizhny Novgorod).

1927: The Gomel branch, which was previously directly subordinate to the State Bank of the USSR, was transferred to the Belarusian office

In January 1927, the Gomel branch, which had previously been directly subordinate to the USSR State Bank, was transferred to the Belarusian office.

1922: Beginning of work in Minsk of the Belarusian Office of the State Bank under the People's Commissariat of Finance of the Belarusian SSR

On October 4, 1921, by decree of the Council of People's Commissars and the All-Russian Central Executive Committee, the State Bank of the RSFSR On December 3, 1921, the Council of People's Commissars of the BSSR adopted a resolution on the organization of the Belarusian office of the State Bank in Minsk (Protocol No. 32 of the meeting of the Council of People's Commissars).

The office of the State Bank began functioning in Minsk on January 3, 1922. Local branches are opening in Vitebsk, Borisov, Bobruisk, Mogilev and agencies in Slutsk, Mozyr, Orsha, Klimovichi, Polotsk.

In connection with the formation of the USSR in 1923, the State Bank of the RSFSR was transformed into the State Bank of the USSR. It also included the Belarusian office.

1919: The Minsk District Office of the People's Bank was formed

After the victory of the October armed uprising, the All-Russian Central Executive Committee on December 14 (27), 1917 adopted a Decree "On the Nationalization of Banks." Banking was declared a state monopoly, the People's Bank of the RSFSR was created, its offices and branches were established on the ground. On the territory of Belarus, the creation of institutions of the People's Bank was not widely developed in connection with the civil war and military intervention. Nevertheless, there is evidence that in March 1919, the Minsk District Office of the People's Bank was formed in the system of the People's Commissariat of Finance of the Lithuanian-Belarusian Republic. In fact, it was a money supply authority. But already on January 19, 1920, the People's Bank of the RSFSR and its local bodies, including the Minsk District Office, were abolished with the transfer of the entire asset and liability to the bodies of the People's Commissariat of Finance of the RSFSR.

1881: Opening of a branch of the State Bank of the Russian Empire in Minsk

In connection with the development of railway construction in provincial cities on the territory of Belarus, branches of the State Bank of the Russian Empire were opened: (Minsk - 1881, Vitebsk - 1883, Mogilev - 1883, Grodno - 1884). In addition to financing the needs of railway construction, the provincial branches had the right to lend to industry and trade, exchange dilapidated credit tickets for new and large ones for small ones and vice versa, pay coupons on interest-bearing securities, accept cash from legal entities and individuals for transfer to the State Bank and its offices and branches, accept deposits, issue loans secured by interest-bearing securities, shares and bonds.

It is known that of the institutions of the State Bank, the first place in terms of the volume of accounting operations was occupied by the Moscow office, the second - Odessa, and towards the end of the 19th century - Kyiv. The Minsk branch was fifth on this list, thus ahead of all other branches of the North-Western Territory. By the end of the XIX century. Minsk became the largest banking center in the region.

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