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The Bank for International Settlements (BIS) plans to broaden its membership and strengthen its cooperative actions as part of its mission as a forum for international cooperation and the grouping of central banks and financial authorities.
To this end, the BIS Board of Directors has decided to co-opt the Central Banks of Kuwait, Morocco and Vietnam to join the BIS. This expansion, the first of its kind since 2011, will bring the number of BIS members to 63.
Jens Weidmann, Chairman of the BIS Board of Directors, welcomed the decision and said that “by regularly expanding its membership, the BIS ensures that its membership base remains consistent with the overall profile of the institution and its mandate to promote monetary and financial stability in the world”.
