Central Bank Marks Founding Anniversary

Pyongyang, October 29 (KCNA) -- The Central Bank marked its 80th founding anniversary.

The 80-year history of the Central Bank is a proud one, in which it has developed into a powerful state financial guidance organ that truly contributes to socialist construction and the people's material and cultural life under the wise leadership of the peerlessly great men.

With a deep insight into the urgent need to set up a new financial system and establish its central organ in the initial period of building a new country, President Kim Il Sung founded the Central Bank on October 29, 1946 and clearly indicated the path to its development.

Chairman Kim Jong Il enriched the Juche-oriented financial idea and theory, provided guidelines for improving the banking and led the Central Bank to make positive contributions to economic construction and the improvement of the people's standard of living.

Respected Comrade Kim Jong Un sent a historic letter "Let Us Vigorously Step Up the Building of a Powerful Country by Bringing about a Turn in Finance and Banking" to the participants in the Third National Conference of Financial Bankers, thus providing important guidelines for consolidating the independent people-oriented financial system in every way and innovating the banking in a revolutionary way.

A meeting took place on Oct. 28 to mark the 80th anniversary of the founding of the Central Bank.

At the meeting Paek Min Gwang, president of the Central Bank, made a commemorative report before the officials and employees of the bank. -0-