BIS invites new members

The Board of Directors of the Bank for International Settlements (BIS), meeting in Basel, Switzerland, today announced its decision to invite the central banks of Colombia, Luxembourg, Peru and the United Arab Emirates to become BIS members. These central banks were selected in accordance with Article 8.3 of the BIS Statutes.

The invitations to membership constitute a further step in a process that began in 1996 with invitations to nine central banks¹ and continued in 1999 (four new members²) and 2003 (six new members³). The enlargements have served to underpin the Bank's global activities.

¹ Central Bank of Brazil, People's Bank of China, Hong Kong Monetary Authority, Reserve Bank of India, Bank of Korea, Bank of Mexico, Central Bank of the Russian Federation, Saudi Arabian Monetary Agency and Monetary Authority of Singapore.

² Central Bank of Argentina, European Central Bank, Central Bank of Malaysia and Bank of Thailand.

³ Bank of Algeria, Central Bank of Chile, Bank Indonesia, Bank of Israel, Reserve Bank of New Zealand and Bangko Sentral ng Pilipinas.