The Bank of Cape Verde was created on September 29, 1975 and was entrusted with the roles of central bank and issuer, foreign exchange authority, treasury, and commercial and development banking. In August 1993, new legislation for the Bank of Cape Verde was approved, allowing the bank to exclusively exercise the role of central bank and assigning the entity increased responsibilities in supervising and controlling the various institutions that are active in the monetary and financial markets, including the insurance sector and the capital markets.
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