Author: Caribbean Association of Banks Inc

Education Opportunities Abound for Caribbean Bankers

The vision and mission of the Caribbean Association of Banks (CAB) Inc. are embodied in the organisation’s strategic pillars. The thrust towards member development, support for academic growth, and up-skilling the region’s financial services sector is directly informed by the 45-year-old body’s stated mission – to proactively influence matters of interest to financial institutions through advocacy and education. To that end, CAB annually offers a multiplicity of training and scholarship opportunities at various levels. With a membership numbering over 80…

International Acclaim For Caribbean Banks

Saint Lucia, Tuesday December 3rd, 2019: Two member organisations of the Caribbean Association of Banks Inc. (CAB) have been recognised by internationally-renowned financial magazine The Banker in its Bank Of The Year awards. Announced last Friday, 29 November, the institutions in question are 1st National Bank St. Lucia Limited and Jamaica’s NCB Financial Group. The two banks were named the most outstanding in their respective jurisdictions during the awards ceremony in London, England. These awards are presented by The Banker…

Correspondent Banking and De-risking Discussed as CARICOM Meets with Chair of US Financial Services Committee

Chairman of the Caribbean Community (CARICOM) and Prime Minister of Saint Lucia,  Honourable Allen Chastanet, yesterday (Wednesday) attended a meeting in Washington, D.C. hosted by Congresswoman Maxine Waters, Chair of the United States House of Representatives Financial Services Committee.  The purpose of the meeting was a discussion on financial services and specifically correspondent banking that featured senior executives from financial institutions in the U.S.A. doing business in the Caribbean region. Also in attendance were Secretary-General of CARICOM, Ambassador H.E. Irwin…

CARICOM Delegation Discussing De-Risking and Correspondent Banking In US

BRIDGETOWN, Barbados, CMC – Antigua and Barbuda Prime Minister Gaston Browne is leading a Caribbean Community (CARICOM) delegation to the United States participating in a roundtable discussion on de-risking and correspondent banking. The discussion, which is being hosted by the US House Committee on Financial Services, will include legislators and bankers. Caribbean countries have been arguing that the threat by banks in developed countries to withdraw correspondent banking services would exclude the region from the global finance and trading system…

Scotiabank completes sale of its operations in the Caribbean to Republic Financial Holdings Limited

TORONTO, Nov. 1, 2019 /CNW/ – Scotiabank announced today that it has completed the previously announced sale of its banking operations in Anguilla, Dominica, Grenada, St. Kitts & Nevis, St. Lucia, St. Maarten and St. Vincent & the Grenadines to Republic Financial Holdings Limited (“RFHL”). This transaction supports the Bank’s strategic decision to focus on operations across its international footprint, where it can achieve greater scale and deliver the best value for customers. RFHL is a leading financial institution based in Trinidad & Tobago with operations across the Caribbean. END About Scotiabank Scotiabank is Canada’s international…

CIBC Reaches Agreement to Sell Majority Stake in CIBC FirstCaribbean

Bank to Retain 24.9% Minority Stake Under the Terms of the Agreement TORONTO , Nov. 8, 2019 /CNW/ – CIBC announced today that it has reached an agreement to sell a significant portion of its majority stake in CIBC FirstCaribbean (“FirstCaribbean”) to GNB Financial Group Limited (“GNB”). Under the terms of the agreement, GNB is acquiring 66.73% of FirstCaribbean shares from CIBC for total consideration of US$797 million , which represents a company valuation of approximately US$1,195 million , subject…

Caribbean Bankers Conclude Historic Conference in Sint Maarten

Sint Maarten, Monday November 4th, 2019 : The Caribbean Association of Banks (CAB) Inc. successfully concluded its historic 46th Conference and Annual General Meeting, 30 October-2 November in Philipsburg, Sint Maarten. Over 200 banking and financial services professionals from the Caribbean, North America, South America, Europe, and Asia converged at the Sonesta Maho Beach Resort, Casino, and Spa under the theme: “Shaping a New Era in Caribbean Banking.” A number of firsts were recorded at this year’s edition of CAB Conference, the…

Caribbean Bankers Trained in AML and Correspondent Banking

Sint Maarten, October 29th, 2019 : 19 participants from nine Caribbean jurisdictions took part in a certified one-day training programme designed to improve their understanding of risk and compliance on Tuesday, 29 October 2019, in Philipsburg, Sint Maarten. The registrants, including chief executive officers, chief financial officers, compliance heads, and senior executives, were enrolled in the Anti-Money Laundering for Correspondent Banking – Certificate Programme, enabled by the Florida International Bankers Association (FIBA), in partnership with the Caribbean Association of Banks (CAB)…

Saint Lucian Executives To Get Leadership Training

Caribbean Association of Banks Inc. and FranklinCovey East Caribbean to host Executive Breakfast Meeting Upwardly mobile Executives, Managers, Supervisors, Heads of Department, and Coaches in Saint Lucia will have the opportunity to benefit from a world-renowned leadership, efficiency, and personal development series, thanks to an exciting new collaboration. The Caribbean Association of Banks Inc. (CAB) in conjunction with FranklinCovey East Caribbean – a licensee of FranklinCovey Company – will be hosting an Executive Breakfast Meeting on Thursday 24th October 2019,…

Saint Lucia’s Prime Minister and Chairman of CARICOM leads Discussion on Correspondent Banking at the Washington Times

Prime Minister of Saint Lucia and Chairman of the Caribbean Community (CARICOM), Honourable Allen Chastanet, was the featured speaker at The Washington Times on Wednesday, October 16, 2019. The Washington Times is a daily newspaper published in Washington, D.C., U.S.A., reaching an average of 35 million viewers a week. Prime Minister Chastanet led the discussion off by focusing on issues relating to the withdrawal of correspondent banking relations in the region, and the economic and security implications this has on…