National Bank of the Republic of Abkhazia
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| Headquarters | 384900, Leona str. 14, Sukhumi | ||
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| Established | February 28, 1991 | ||
| Chairman | Vacant | ||
| Central bank of | Abkhazia | ||
| Currency |
Russian ruble, Abkhazian Apsar RUB (ISO 4217) |
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| Website | www |
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The National Bank of the Republic of Abkhazia (Abkhaz: Аҧсны Аҳәынҭқарра Амилаҭтә Банк, Russian: Национальный банк Республики Абхазия), also known by the short form of Bank of Abkhazia (Russian: Банк Абхазии) is the central bank of the disputed region and partly recognized state of Abkhazia on the eastern coast of the Black Sea. It was established on February 28, 1991 since the adoption of the laws "On the National Bank of the Abkhaz SSR" and "On Banks and Banking of the Abkhaz SSR" passed by the Supreme Soviet of the Abkhaz SSR on February 28, 1991.
The Bank's headquarters are located in a constructivist building on Leon Street in Sukhumi, Abkhazia's capital.
Due to the use of the Russian ruble in Abkhazia, the National Bank of Abkhazia exercises little control over the money supply in Abkhazia’s economy and has almost no influence on the value of the Russian currency. Its actions are primarily focused on registering commercial banks and making wholesale loans to them.
On 10 November 2004, during the height of the post-election crisis, President Ardzinba dismissed Boris Zhirov as Chairman of the National Bank and temporarily appointed Vice-Premier Emma Tania in his stead. After Sergei Bagapsh won the January 2005 rerun, the People's Assembly voted to permanently appoint a Chairman. It first voted against the permanent appointment of Tania, before supporting on 10 June the nomination of Illarion Argun, former Chairman of Gagra Bank, with 29 votes in favour, 3 against and 3 abstentions.
On 1 August, Argun along with Jeiran Kirval, the National Bank's Chief Security Officer, died in a car crash on the coastal highway near Upper Eshera.
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