FINANCES OF THE GRAND DUCHY  

The Duties and Functions of
the Chancellery of Finance and Economy,
its Offices and Bureaus [head Lord Of Finance]

Treasurer of the Grand Duchy of Pinsk.

 TREASURY DEPARTMENT

The Treasurer of Grand Duchy [Lord Treasurer] and Treasurer of Ducal Chancellery [Chief-Treasurer] is appointed by Grand Duke on 5 years term and is responsible for management of investments of the State.

The Treasurer responsibilities: establishes investment policy, safety and liquidity of investment portfolios of the public sums for funds of all tax bearers, charged to it.                  

In Investment section - the various portfolios controlled by the Treasurer. The the following funds are included:

Insurance Indemnification fund.

Fund of school and public formation.

Fund of Charities and Health services.

Fund of insurance of risks of Grand Duchy.

Investment managers should have access to the latest financial market data with the help of dialogue services. The Statute and investment policies of Treasury cannot entitle to invest official reserves in the bond of the hazardous companies, alcoholic and tobacco industry.

Mission of Investment Branch will be to apply investment programs which are safe, reasonable, and corresponding to the public purpose of each fund, with rates of returning is higher reference. The responsibility of Adjustment of monetary operations of Treasury reaches all areas of board of Grand Duchy. Adjustment of monetary operations will be, that optimizing cash flows and maximizing dividends to provide efficient control of payments and payments of Grand Duchy, to warrant effective bank services to organizations of Grand Duchy, and to provide the help of adjustment of monetary operations to organizations and bodies of management.

The treasurer should be capable to help to support the minimal taxes. The book-keeping and economy bureau of department of Treasury should provide qualitative financing facility and the information to agencies, citizens, and other objects through the obligation of well informed and qualified employees.

Organizational Information:

Committee of the Treasury of Grand Duchy

Treasury of Grand Duchy of Pinsk - unique office within the limits of Office of the Finance directly submitting to Grand Duke. The Treasurer of Grand Duchy acts in reception and care of funds of Grand Duchy. Responsible on supervision of the Bureau of Engravings and Press, for stamping of coins of Grand Duchy and for Bonds of Grand Duchy.

The Treasurer reports to Chancellor of Finance through the substitute of the Chancellor about management of the Finance of Grand Duchy which list is included into duties of department of Treasury. It also operates the debt of Grand Duchy, counts the budget,  necessary for the government and servicing of the market savings and securities of Duchy.

Currencies of Grand Duchy of Pinsk:

Exchange Rate: 1 GDP golden = 1 US dollar.

1 golden = 100 silvering.

Coins:

Golden [for a special issue]: 1;2;3;5;10;25;50;100.

Silvering: 1;5;10;25;50.

Bank Note:

Bank Note [paper currency]: Golden: 1;5;10;20;50;100;

Bank Note [paper currency for a special issue]: Golden: 2;3;500;1000;

Ducal Bank of the Grand Duchy of Pinsk 

State Ducal Bank of the Grand Duchy of Pinsk - has been based to finance National projects, to serve local and abroad citizens of the Grand Duchy of Pinsk, foreign citizens and company, and to conduct calculations in the field of the international activity according to the Degree of Ducal Bank by Grand Duke on April, 18 2004.

The Ducal Bank performs functions of three departments: National, Reserve and Commercial. Activity of Ducal Bank is regulated by rules and instructions. Functions of Ducal Bank include:        

-Financial transactions. Licensing of financial structures. Providing to clients deferent style of financing and open personal and business check and credit card account.

-The edition of rules and instructions for domestic and outage activity of bank.

-Consideration of the applications, new charters of branches, financial structures and other changes in the general financial or bank structure.

Director of Ducal Bank: Director of Bank gets out and claimed on a post by Grand Duke. It responsible for management of the National bank of Duchy. Director of Ducal Bank establishes a flexible bank policy, safety and liquidity of the public sums for funds of all tax bearers, charged to it.

The responsibility of Adjustment of monetary banking businesses reaches all areas of the state board and will be to provide effective bank services to personal and official bodies, and to provide the help of adjustment of monetary operations to official bodies and local authorities. Director should be capable to provide qualitative financing facility and the information to the state agencies, citizens, and other objects through well qualified employees.