Economy – Reserve Bank of New Zealand Te Pūtea Matua becomes inaugural member of new, international Central Bank Network for Indigenous Inclusion

Source: Reserve Bank of New Zealand

Along with Indigenous partners, Te Pūtea Matua (Reserve Bank of New Zealand), the Bank of Canada and the Reserve Bank of Australia have formed a voluntary network to foster ongoing dialogue and raise awareness of Indigenous economic and financial issues.

The Central Bank Network for Indigenous Inclusion, established Jan. 1, 2021, aims to share knowledge and best practices, promote engagement with Indigenous Peoples, and foster greater understanding and education about Indigenous economic issues and histories.

The network will focus on:

Conducting research for and with Indigenous Peoples on economic issues, including the development of best practices, such as using Indigenous data respectfully.
Building cultural awareness, recruitment practices and other aspects of corporate culture to foster Indigenous inclusion within member organizations.
Strengthening engagement practices with Indigenous groups and communities.

Supporting economic and financial education for and about Indigenous Peoples.

In addition, the network will plan a recurring Central Bank Symposium on Indigenous Economics. The first symposium will be hosted by the Bank of Canada in late 2021.

In formative discussions, Indigenous partners drew on their oral histories and contemporary economic experience to guide discussion and confirmation of the network’s aims. This discussion sought the views of Indigenous partners including Te Rau Kupenga, representative of the Reserve Bank of New Zealand’s Te Ao Māori external advisory panel; and Manny Jules, chief commissioner, First Nations Tax Commission and Founder of the Tulo Centre of Indigenous Economics.

The Central Bank Network for Indigenous Inclusion will serve as a community of practice and will not aim to set or take policy positions. The founding members encourage other central banking entities around the world to join. The chair of the Network will rotate annually, with the Reserve Bank of New Zealand serving as chair in 2021.

“It is our honour and privilege to accept the nomination as inaugural chair to the network. Te Pūtea Matua will be a strong advocate for indigenous economic issues here in Aotearoa (New Zealand) and aim to role-model good leadership internationally. We look forward to working with our peers to make transformative change within the central banking community,” said Reserve Bank of New Zealand Governor, Adrian Orr.

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