It was created in 1997 to take over many of the functions of the National Bank of Cuba (Spanish: Banco Nacional de Cuba), which was established on 23 December 1948[2] and began operations on 27 April 1950.

[3] The current president of the bank is Joaquín Alonso Vázquez.

[4] The bank is headed by a single president with five vice-presidents:[5] The president of the Central Bank is a member of the Council of Ministers of Cuba.

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