The Central Bank

Is there any significance to the selection of the Sandollar as the Central Bank of The Bahamas' Logo?

The sanddollar is an invertebrate marine animal that has a flat disk-shaped body. It is particularly well adapted for burrowing in sand banks. The entire surface of the animal's body is covered by small spines, which are used for digging and crawling. The mouth is located in the centre of the body's underside and on the upperside there is a pattern of five 'petals' spreading out from the centre.

The selection of the sanddollar as the logo of the Central Bank was made by the first Governor, Mr. T. B. Donaldson, who, in addition to wanting something Bahamian, was 'intrigued by the elegance and history' of this unusual specimen of marine life, of which an interesting legend exists. The markings on the shell of the sanddollar are said to symbolize the birth, crucifixion and resurrection of Christ.

On the topside of the shell, an outline of the Easter Lily is clearly seen. At the centre of the Lily, a five-pointed star representing the Star of Bethlehem appears. The five narrow openings are said to be representative of the four nail holes and the spear wound made in the body of Christ during the Crucifixion. Easily recognizable on the reverse side of the shell is the outline of the Christmas Poinsettia and also the Bell. When broken, inside the shell are five birds called Doves of Peace. Some say they are the Angels that sang to the shepherds on the first Christmas morning.

  1. What are the main tools employed by the Central Bank in performing its functions?
  2. What are reserve requirements?
  3. What is the Discount (Bank) Rate and how does it relate to Discount Policy?
  4. What have been the changes in the Discount (Bank) Rate over the past few years?
  5. Does the Central Bank accept deposits from or make loans to the general public?
  6. How does the Central Bank make money?
  7. Who are the Bank's former Governors and Deputy Governors?
  8. Is the Central Bank a Government department?
  9. Is there any significance to the selection of the Sandollar as the Central Bank of The Bahamas' Logo?
  10. What Publications does the Central Bank produce and when are they made available to the public?
  11. How can I get copies of the Bank's publications and is there a charge or fee for them?
  12. What is monetary policy and how is it different from fiscal policy?

Available FAQs