[2][3] The Board helped promote the Bahamas' emergence as an international currency trading and banking center during the 1960s and 70s.

Second, the BMA was authorized to purchase Bahamian government debt marking the beginning of a discretionary monetary policy.

Finally, the BMA was authorized to serve as a lender of last resort to the commercial banks in the event of a financial emergency.

[citation needed] The responsibilities of the Central Bank are to foster an environment of monetary stability conducive to economic development and to ensure a stable and sound financial system.

[8] It achieves this goal by: The current Governor of the Central Bank is John A Rolle, who has held the position since January 2016.