BANK OF MOUNT VEMA
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THE CENTRAL BANK OF THE KINGDOM OF MOUNT VEMA
The Bank of Mount Vema is an institution of the Crown of the State. The Central Bank of the Kingdom of Mount Vema, and an agency of the Royal Mount Vema Reserve Bank. The Bank is the Monetary Authority of the Kingdom of Mount Vema, and is responsible for issuing bank notes and general management of the currency.
Central Bank Interest Rate: 3.45%
The Currency of Mount Vema
​As the Central Bank of Mount Vema we are charged with quasi-regulatory responsibilities, such as supervising commercial banks, and controlling the currency of the territory, money supply, interest rates, and to oversee the commercial banking system. We also act as a "lender of last resort" to the banking sector during times of financial crisis. Therefore, we are an entity institutionally designed to be independent from political interference.
Functions of the Bank of Mount Vema include:
  • implementing monetary policies
  • setting the official interest rate – to manage both inflation and the exchange rate of the territory – and ensuring that this rate takes effect via a variety of policy mechanisms
  • controlling the nation's entire money supply
  • the Government's banker and the bankers' bank (""lender of last resort")
  • managing the country's foreign exchange and the Government's stock register
  • regulating and supervising the banking industry

Bank of Mount Vema Settlement Account - Application Form

Types of Mount Vema bank
  • Commercial banks: bank that mostly deals with deposits and loans from corporations or large businesses.
  • Credit unions or co-operative banks: not-for-profit cooperatives owned by the depositors and often offering rates more favourable than for-profit banks. Typically, membership is restricted to employees of a particular company, residents of a defined area, members of a certain union or religious organizations, and their immediate families.
  • Private banks: banks that manage the assets of high-net-worth individuals.
  • Retail Bank and Building societies: institutions that conduct retail banking.
  • A direct or internet-only bank: is a banking operation without any physical bank branches. Transactions are usually accomplished using ATMs and electronic transfers and direct deposits through an online interface.
  • Acquiring Bank: processes credit or debit card payments on behalf of merchants, and allows merchants to accept credit card payments from card-issuing banks.
Types of banking services

Banks' activities are divided into:
  • Retail Banking - dealing directly with individuals and small businesses;
  • Business Banking - providing services to mid-market business;
  • Corporate Banking - directed at large business entities;
  • Private Banking - providing wealth management services to high-net-worth individuals and families;
  • Investment Banking - relating to activities on the financial markets.
A bank may be a profit-making, or a private enterprise. However, it may be owned by the government, or are non-profit organizations.
Requirements for the issue of a Bank License
The requirements for the issue of a Mount Vema bank license vary but typically include:
  • Minimum capital
  • Minimum capital ratio
  • 'Fit and Proper' requirements for the bank's controllers, owners, directors, or senior officers
  • Approval of the bank's business plan as being sufficiently prudent and plausible.
BANK LICENSE - How to Apply
To apply you must submit a letter of Expression of Interest to the attention of the Banking License Officer. Once your letter is received, you will receive a formal invitation with the application form.
Currency Issuance
Similar to commercial banks, the Bank of Mount Vema hold assets (government bonds, foreign exchange, gold, and other financial assets) and incur liabilities (currency outstanding). The Bank of Mount Vema creates money by issuing interest-free currency notes and selling them to the public (government) in exchange for interest-bearing assets such as government bonds. When the Bank of Mount Vema wishes to purchase more bonds than His Mount Vema Majesty’s Government make available, it may purchase private bonds or assets denominated in foreign currencies.
Interest Income
Although, an agency of the Reserve Bank, the Bank of Mount Vema, does not remits its interest income to the Reserve Bank, it remits to the Treasury of His Mount Vema Majesty’s Government. This income, derived from the power to issue currency, is internationally referred to as seigniorage, and usually belongs to the national government. The state-sanctioned power to create currency is internationally called the Right of Issuance.
Price Stability
The Bank of Mount Vema also works to manage inflation. Additional information will be made available here.
Functions and the Role of the Banks in the Economic
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Banking Regulation – Mount Vema
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Real Time Gross Settlement (RTGS)
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The Mount Vema Capital Market
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Banking Agent
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Bank of Mount Vema: The Mount Vema Central Bank 
City of Mount Vema - (Off-Plan) Address:
77 Westland Road, Maryland
Postal Code: 3219A 
Mount Vema