NEW Story: Naval Commando
Table of Contents
߷ Part of the ministry series of articles
The Commonwealth Bank (also Bank of Vekllei) is the central bank and currency store of Vekllei. It is operated by the Ministry of Commerce and maintains branches in all Vekllei republics and in many countries around the world. It is not autonomous and is beholden to the policy decisions of Ministry of Commerce and, in certain cases, the republic and commonwealth parliaments. Its sworn purpose, as instructed by the Floral Constitution, is to advocate for encourage growth and benefit Vekllei people.
The Commonwealth Bank was founded 1642 as the Royal Bank in Lola, and is the fifth oldest bank in the world.
Most banks in Vekllei are institutional or industrial, since the average Vekllei person is unmoneyed and, in a conventional definition, unbanked. Nonetheless, Vekllei maintains several commercial banks under the Bank of Vekllei umbrella, tasked primarily with:
- Cashing and underwriting White and Blue bonds.
- Selling government and financial (bureau) bonds internationally.
- International placement and borrowing services.
- Trading, settling and selling foreign currencies.
Vekllei citizens are entitled to an equal share of the money stored in the Labour Bank, and in certain circumstances may withdraw their balance to emigrate or travel abroad.
Despite foreign perception of Vekllei economics, the liquid and asset holdings of the Bank of Vekllei make it the second-largest bank in the world.
Commonwealth Atlantic Bank #
The Commonwealth Atlantic Bank (COMMBANK) is an international investment subsidiary of the Bank of Vekllei, tasked primarily with banking in Commonwealth members and international markets. It has branches across every Commonwealth member-state and in most major economic hubs around the world, including throughout Europe, the Americas, and Asia. It also serves as the Central Bank of the Kalina Isles.
Commonwealth Import-Export Bank #
The Commonwealth Import-Export Bank (VEKEXIM) is a state policy investment bank used to fund projects outside of the Commonwealth, particularly in developing countries. It is the primary investment mechanism of Vekllei foreign aid system, which uses export credits and low-interest bureau loans to build infrastructure overseas. It is among the most influential export banks in the world, and contributed to the Pan-African Railway and Hundred Dams projects as part of Vekllei’s ongoing Trade Democracy economic scheme.
Commonwealth Development Bank #
The Commonwealth Development Bank (DEVBANK) is a policy bank designed to organise and allocate funding for large-scale political projects, particularly in infrastructure. The Development Bank works as the engine of the Commonwealth’s policies, funded mostly with White Bonds issued internationally and labour-guaranteed certificates (a type of Blue Bond). It also creates loan arrangements, evaluates, and underwrites national government projects.
Commonwealth Commercial Bank #
The Commonwealth Commercial Bank (SISTERBANK) is the commercial lending bank of ‘petty bureau’ company syndicates and their workers. Its primary function is bureau negotiation and lending in order to facilitate the economic development of private business in Vekllei. It also acts as an intermediary between petty bureau companies and other banks or government financial apparatuses.
Sisterbank is the primary mechanism by which private business is done in Vekllei, facilitating loans, placement and logistics for small to medium-sized businesses.
Commonwealth Industrial Bank #
The Commonwealth Industrial Bank (MOTHERBANK) is the industrial lending bank of ‘bureau proper’ company syndicates and their workers. Similar to the Sisterbank, it facilitates economic activity of bureaus and private industry primarily through asset management and mediation with the government and the Commonwealth Bank.