Author: Caribbean Association of Banks Inc

CAB Chair Joins CCJ Trust Fund Board

Mr. Dalton A. Lee, chairperson of the Caribbean Association of Banks Inc. (CAB) has been nominated to sit on the Board of Trustees of the Caribbean Court of Justice Trust Fund (CCJTF) as of 28 February 2019. Mr. Lee, the chairperson and one of the founders of Bank of Montserrat Limited, replaces Mr. Farid Antar as the CAB representative on the CCJTF Board of Trustees. Mr. Antar, an experienced and highly respected banker with over 39 years of outstanding service…

Caribbean Banking Professionals Receive Social Media Training

A total of 22 participants from 12 organisations in six different territories took part in a training session hosted by the Caribbean Association of Banks (CAB) Inc. The two-day workshop, entitled Social Selling Re-Invented, prepared participants to more effectively connect with potential clients via social media, and to more readily use Web 2.0 tools for sales and marketing. Registrants from Antigua and Barbuda, the British Virgin Islands, the Commonwealth of Dominica, Montserrat, Saint Lucia, and Suriname convened at the Coco…

Caribbean Association of Banks congratulates ECCB

Caribbean Association of Banks Inc. has extended congratulations to the Eastern Caribbean Central Bank on its recently-announced digital currency pilot project, which is expected to positively impact the finance sector The Caribbean Association of Banks Inc. (CAB) has committed its support to the Eastern Caribbean Central Bank (ECCB), and that latter organisation’s decision to issue a blockchain-issued Central Bank Digital Currency (CBDC) in 2019. The announcement of the digital currency pilot was made by Governor of the ECCB, Dr. Timothy N. J.…

Caribbean Association of Banks attends FSB Remittances Workshop

Saint Lucia, Tuesday March 12 th , 2018 : The Financial Stability Board (FSB), in collaboration with Standard Chartered Bank, hosted a Remittances Workshop in London, England, on March 11th, 2019. The subject matter of the one-day workshop was “Remittance service providers’ access to banking services.” The Caribbean Association of Banks (CAB) Inc. was represented at this meeting by Board member and immediate past chair, Joanna Charles. Ms. Charles is the General Manager of the Antigua Commercial Bank.  Ms. Charles sat with fellow…

Caribbean Association of Banks to attend 2019 FIBA AML Conference

Saint Lucia, Tuesday March 12th, 2018 : The North American and Caribbean basin financial sector will meet in coming days for a significant anti-money laundering (AML) event. The Florida International Bankers Association (FIBA) is staging its 19th AML Compliance Conference in Miami, Florida, USA, March 11th to 13th. The theme of this year’s gathering is Shaping The Future Of The Fight Against Financial Crime. The event will be attended by decision-makers and compliance professionals from the Caribbean, USA, Canada, and Mexico. Among…

The Caribbean Association of Banks’ Position on Republic Bank’s proposed buyout of Scotiabank’s Banking Operations

Tuesday December 11th, 2018: The Caribbean Association of Banks (CAB) has noted the concerns of the public and private sectors with respect to the proposed sale of Scotiabank’s banking operations in nine (9) Caribbean Countries to  Republic Financial Holding Limited (RFHL). While some of these concerns may be well founded, the CAB views this development as a positive opportunity for the Regional Financial Services Sector. The Region has, in its history, experienced migration, acquisition and consolidation of both locally owned…

The Caribbean Association of Banks voices support for Compliance with OECD/FATF Tax Standards.

Monday November 26th, 2018: The Caribbean Association of Banks (CAB) fully supports the Bankers Association of Trinidad and Tobago’s (BATT) efforts to have its Parliament  enact the necessary legislation for compliance with international Exchange of Information on Request (EOIR) and Automatic Exchange of Information (AEOI) standards, as directed by the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes, and the Financial Action Task Force (FATF). As highlighted by the BATT, “Failure to pass this legislation could…

The Caribbean Association of Banks Supports CARICOM in Regional Integration Efforts

Thursday September 6th, 2018: The Caribbean Association of Banks (CAB) commends the Council for Finance and Planning (COFAP) for reaffirming the commitment towards the Caribbean Single Market and Economy and its significance for the regional financial sector, at the 6th Special Meeting of the Council on 4th September 2018 in Barbados. The CAB views the resolution taken at this meeting as a step in the right direction to re-energize the regional integration commitment. The CAB is pleased to note that…

Barbados PM warns of job losses but promises no callous cuts.

Prime Minister Mia Mottley has stated that as the country moves forward with its restructuring plans, job cuts in the public sector are inevitable. However, she went on to state that there would be no callous layoffs and that the Government would make provision to cushion the blow for those affected. Dismissing claims by the former Central Bank Governor, Dr. DeLisle Worrell, that thousands of job cuts would be necessary, Mottley stated that other forms of restructuring would be employed.…

Guyana’s Economy grew by 4.5 percent in first half of 2018.

The Minister of Finance of Guyana, Winston Jordan, has announced that the country grew by 4.5 percent in the first half of 2018 and year-end growth is projected to be 3.7 percent. The growth in the economy was broad-based and driven by various sectors such as: Agriculture 3.4 percent, livestock 29.1 percent, forestry 18.1 percent, services 8.2 percent, construction 13.4 per cent and extractive industries (except gold which fell by 19 percent) averaged 26 per cent growth. Read more HERE…