Since its inception on February 20, 1969, the Bermuda Monetary Authority — also known as the Authority or BMA — has been charged with the responsibility of issuing Bermuda’s national currency. The design of the currency has always reflected the island nation’s landscapes, flora and fauna, which has made it of interest to currency dealers and numismatics locally and overseas. The notes and coins that have been issued in Bermuda throughout the years are also featured in the Authority’s Note and Coin Exhibit at its main building — BMA House, 43 Victoria Street, Hamilton. This exhibit is open from 9 a.m. to 4 p.m., Monday to Friday, and is complemented by the Note Exhibit located at the Commissioner’s House in the National Museum of Bermuda in Royal Naval Dockyard. Established under the Bermuda Monetary Authority Act 1969, the BMA supervises, regulates and inspects financial institutions operating in or from within the jurisdiction. It also manages exchange control transactions, assists other authorities in Bermuda with the detection and prevention of financial crime, and advises Bermuda’s government and public bodies on financial and monetary matters. Independent from the government, the Authority is fully funded by the fees it charges. As the integrated regulator of the financial services sector in Bermuda, the Authority develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust and insurance companies; corporate service providers and investment businesses. It also regulates the Bermuda Stock Exchange. In carrying out its role, the Authority follows and helps set best practices at an international level. Details of the Authority’s regulatory approach and Bermuda’s notes and coins can be found on the Authoriy’s website, bma.bm.
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