About National Bank of Romania
The National Bank of Romania was established on 17/29 April 1880 as a result of the Romanian liberal way of thinking centred on the idea of putting in place a solid credit system. The then Minister of Finance, Ion Campineanu, became the first governor, Eugeniu Carada-the true founder-together with Emil Costinescu were responsible for the organisation and functioning of the Mint, while Theodor Stefanescu was in charge of the accounting organisation of the Bank.
The start-up capital amounted to lei 30 million, of which lei 10 million was state owned. The NBR was first improperly accommodated in a small space on the premises of The Rural Estate Credit. As of 16th December, the state withdrew from the association with the NBR, which turned into a privileged privately-owned bank, and the government’s rights passed on to the shareholders. The Bank was granted the prerogative to issue currency by 31st December 1920, subsequently extended to 31st December 1930.
Because of the war, the NBR moved to Jassy on 15th November 1916. The German military administration seized the Bank’s head office and assets in Bucharest. On 14th November 1916, the NBR Treasury was moved to Jassy then sent to Russia under the protection and guarantees offered by the Russian Government… Continue reading about National Bank of Romania here.