The Grimaldi dynasty, one of the oldest princely families in Europe, has governed the principality of Monaco for seven centuries.
This exceptional longevity illustrates the national unity between the Princes and the people of Monaco. It also shows the political stability of the country, where the Prince exercises his sovereign authority in accordance with the provisions of the Constitution and the law. Recognised internationally, the Principality of Monaco has been a member of the United Nations since 1993 and has sat on the Council of Europe since 2004.
Monaco's earliest banking institutions date back to the end of the 19th century. The Franco-Monegasque convention on exchange control in 1945, and the exchange of letters on 18 May 1963 made French laws and regulations for financial institutions applicable in Monaco.