Category: CAB

CAB Bulletin Issue 5, January 2021

Welcome to Issue 5 of The CAB Bulletin! In our first edition for the new calendar year, we highlight some of our members’ recent successes (congratulations also to ECCU Bank of the Year Award recipients, Bank of Saint Lucia Limited and The National Commercial Bank of Anguilla Ltd). We also celebrate the completion of our first-ever virtual AGM. Also in this issue, new initiatives from the CAB secretariat, including new memoranda of understanding with our fellow Caribbean institutions, as well…

CAB & CXC Sign Momentous MOU

Castries, Saint Lucia, Friday, December 18th 2020: Two of the region’s most venerable organisations have taken steps to begin working more closely with one another. The Caribbean Association of Banks (CAB) Inc. and the Caribbean Examinations Council® (CXC®) recently signed a Memorandum of Understanding (MOU) for the establishment of mutual cooperation for the advancement of the Caribbean’s human resource competitiveness, and engagement in the areas of education and human capital development. The agreement was concluded on November 11, 2020, between…

Banker Magazine Names Caribbean Banks Of The Year

Castries, Saint Lucia, Tuesday, December 8th 2020: The calendar year 2020 has had more than its fair share of challenges, not least a pandemic that has had a massive adverse knock-on effect on the global economy. Against that backdrop, Caribbean financial institutions have been soldiering on, and even excelling to the extent that they have been able to enjoy global recognition. Two of the member organisations of the Caribbean Association of Banks (CAB) Inc. have been named among the most…

Bank of Saint Lucia appoints Rolf Phillips as Managing Director

Bank of Saint Lucia (BOSL) announces the appointment of Mr. Rolf K. Phillips as Managing Director (MD) effective November 1st 2020. BOSL’s new Managing Director Mr. Rolf Phillips Mr. Phillips, an OECS national, brings over four decades of sound experience in banking, finance and management. He has a commendable history of leadership and has served in many positions across the Eastern Caribbean including, Branch Manager, International Banking Director, Senior Manager of International Banking, General Manager Home Finance, Managing Director Retail…

PRESS RELEASE: Caribbean Banks Conclude Historic AGM

Castries, Saint Lucia, Tuesday, November 20th 2020: The Caribbean Association of Banks (CAB) Inc. held its 47th Annual General Meeting on Wednesday, November 18th 2020. For the first time since the pan-regional body was founded in 1974, the annual gathering was entirely virtual, including the Members Forum, presentation of the Chairperson’s Report, Audited Financial Statement, voting for the new Board of Directors, and amendments to the Association’s by-laws. The unprecedented event was attended by 50 individuals representing 41 CAB member…

CARICOM decries “unilateral, arbitrary” EU blacklisting

The Caribbean Community (CARICOM) deplores the ongoing unilateral, arbitrary and non-transparent blacklisting strategy employed by the European Union (EU) against CARICOM Member States. The most recent inclusion of CARICOM States to the blacklist of alleged non-cooperative tax jurisdictions and jurisdictions identified as being deficient in the area of Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT), underscores the EU’s unwillingness to take into account the substantial progress made by CARICOM Member States at compliance with global standards. Moreover, the unquestioned use…

Jamaican National to Pursue Chartered Banker MBA

Castries, Saint Lucia Wednesday, October 7th 2020: The Caribbean Association of Banks (CAB) Inc. is pleased to announce Ms. Janelle Muschette of National Commercial Bank Jamaica Ltd. as the latest recipient of the CAB CBMBA Scholarship. Ms. Muschette is a 12-year employee of NCB Jamaica, and currently holds the position of Legal Counsel. Thanks to this prestigious award, Ms. Muschette will take up studies towards a Chartered Banker MBA at Bangor University. She follows Ms. Shanta Louis of Bank of…

Two Win Caribbean Banking Scholarships

Castries, Saint Lucia Wednesday, September 30th 2020: Two more regional banking professionals will be building their credentials with support from the Caribbean Association of Banks (CAB) Inc. The 46-year-old organisation, which represents banks and financial institutions across the Caribbean Community, has awarded two scholarships to undertake studies at the University of the West Indies (UWI). Starting in January 2021, the recipients will pursue a BSc .in Banking and Finance (Special or Compliance and Corporate Governance) at the UWI Open Campus.…

Financial Institutions and ECCB Offer Extended Support to Customers

The Eastern Caribbean Central Bank (ECCB) and the ECCU Bankers’ Association have carefully reviewed the current circumstances in relation to the ongoing COVID-19 pandemic and have revised their support programme to help reduce the anxiety that some customers and residents continue to experience over the loss of income due to the pandemic. The unprecedented situation that we recognised in March 2020 has not yet shown signs of significant improvement, and more lives and livelihoods have been impacted by the significant…

Caribbean Banks Face Mask Challenge

Castries, Saint Lucia, Tuesday, August 14th 2020: Caribbean territories have joined the rest of the world in implementing a number of protocols to combat the COVID-19 pandemic in recent months. These include wearing of masks in public, as recommended by the World Health Organisation. But with the mass adoption of masks, business places, including banks and financial institutions, are faced with new challenges. Public health officials view masks as one of the best defenses against the growing novel coronavirus threat,…