About the NRBT
His Majesty King Taufa'ahau Tupou IV laid the foundation stone of the new building on May 8, 1993.
The NRBT was first housed on the third floor of the Royco Building in Central Nuku’alofa. The bank started with 6 staff members. Because of the absence of proper storage room for the notes and coins, these values were temporarily stored in the vaults of the Treasury (Ministry of Finance Building). In the meantime, the NRBT started preparations for the construction of its own office building.
According to the National Reserve Bank of Tonga Act, the NRBT must have its office in Nuku’alofa. There were two options: build the office on;
- land between the post office and the Bank of Tonga (now Bank of South Pacific) or
- a more spacious plot of land on Queen Salote Road.
Due to its better accessibility, the choice fell on the second option. The foundation stone of the building was laid by the late King Taufa’ahau Tupou IV on May 8, 1993. The construction lasted around 15 months and His Majesty opened the new building on April 21, 1994.
The original authorized capital of the NRBT was $2,000,000 pa'anga, of which $1,000,000 million was paid up until 2007 when authorized capital was increased to $5 million by the NRBT (Amendment Act) 2007. The Government owns all capital stock.
As stated in the National Reserve Bank of Tonga (Amendment) Act, 2014, the principal objectives of the Bank;
1. shall be to maintain internal and external monetary stability.
2. Without prejudice to its principal objective, the Bank -
a. shall promote financial stability; and
b. promote a sound and efficient financial system;
3. Subject to subsections (1) and (2), the Bank shall conduct its activities in a manner that supports macroeconomic stability and economic growth.