CAB Enjoys Fruitful Visit to Suriname

Saint Lucia, September 12th, 2019: The Caribbean Association of Banks (CAB) Inc. visited a number of its stakeholders in Paramaribo, capital of the South American territory of Suriname, on 5-6 September 2019. The three-member CAB delegation comprised of Chairperson, Mr. Dalton Lee; Immediate Past Chairperson, Ms. Joanna Charles; and CEO, Ms. Wendy Delmar.

During their two-day visit, the CAB team met with high-level representatives of the Central Bank of Suriname, VCB Bank, Coöperatieve Spaar Рen Kredietbank Godo G.A., Suricharge Bank N.V., Finabank N.V., Hakrinbank, Republic Bank (Suriname) N.V., De Surinaamsche Bank N.V., TrustBank Amanah, Southern Commercial Bank, and Surinaamse Bankiersvereniging, the Bankers Association of Suriname.

Among the key issues discussed between the CAB and the Surinamese banking fraternity were the training needs of financial institutions in the Dutch nation, regulatory change, implementation of new International Financial Reporting Standards slated to take effect in the year 2020, de-risking and correspondent banking relations, onboarding of potential new CAB members from Suriname, and establishment of a memorandum of understanding between the local Bankers Association and CAB.

Said CAB Chairperson, Mr. Dalton Lee:

“We were very impressed with the reception we got in Suriname. We feel it is of critical importance for us at the Caribbean Association of Banks to truly embrace the scope of our responsibilities, and to reach out to members and potential members where they live and work. From the discussions we had during our visit, it is clear that the banking fraternity and the financial services sector in Suriname share our stance, that in the broader Caribbean region, we are strongest when we work together.”

At present, CAB has six members in Suriname, who have been well represented at training seminars and other events, such as the CEO and Director Forum, held earlier this year in Miami, Florida, U.S.A. The banking and financial services sector is represented on the CAB Board of Directors by Mr. Sean Husain, Managing Director of Republic Bank (Suriname) N.V., where he serves as Secretary. The pan-Caribbean organisation has over 80 members in the Caribbean, North America, Central America, South America, and Europe.

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About the CAB:
Established in 1974, the CAB is a community of banks and other financial institutions in the Caribbean Region, which proactively influences issues impacting the financial services sector through advocacy, education, and networking. The CAB represents fifty-six (56) banks and financial institutions in the Caribbean with an asset base in excess of US$41 billion as at Dec 31, 2018, in addition to sixteen (16) Service members comprising regional and international technological and professional institutions and three (3) Honorary Members, and six (6) Associate Members, spanning 20 territories.

For more information contact:
Ms. Wendy Delmar
Chief Executive Officer              
Email: cab@candw.lc
Tel (758) 452‚Äź2877

The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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