The National Bank of the Republic of Belarus (NBRB) is the central bank of Belarus, responsible for formulating and implementing the country's monetary policy, regulating the banking system, ensuring the stable operation of the payment system, and managing the country's foreign exchange reserves. The National Bank of the Republic of Belarus (NBRB) is the central bank of Belarus, located in the capital city of Minsk. The bank was founded in 1922 under the name of "Belarusian Republic Bank" and later worked under the leadership of the Soviet State Bank. NBRB underwent restructuring in 1959 and 1987, and emerged in its current form in 1990 after announcing its departure from the Soviet Union and passing banking regulations. The activities of NBRB are subject to the Banking Law promulgated on October 25, 2000. Article 25 of the Banking Law stipulates that one of the main functions of NBRB is to ensure the effective, reliable, and secure operation of the interbank settlement system, and to develop cash and non cash settlement procedures in the Republic of Belarus.