Joint statement from Te Pūtea Matua (Reserve Bank of New Zealand), the Bank of Canada and
the Reserve Bank of Australia.
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 1 January 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 organisations.
- 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.
‘The Reserve Bank of Australia is proud to be a founding member of the Central Bank Indigenous
Network,’ said Governor Philip Lowe. ‘Participation in this network will allow us to
increase our knowledge and understanding of Indigenous communities both locally and globally. We are
committed to building on the legacy of the Bank’s first Governor, Dr HC ‘Nugget’
Coombs, who championed reconciliation with Aboriginal and Torres Strait Islander peoples.’
More about the Reserve Bank of Australia: The Reserve Bank published its ‘Innovate’ Reconciliation
Action Plan in August 2020. The Plan recognises the contribution of Australia’s First Nations
peoples to our country’s social and economic progress and sets out a strategy for reconciliation
and meaningful engagement with them in our role as Australia’s central Bank. By implementing the
activities outlined in the Innovate RAP, we aim to create opportunities for First Nations people and,
alongside our current programs, to raise cultural awareness and help further reconciliation between
Aboriginal and Torres Strait Islander peoples and non-Indigenous peoples.