Category: Correspondence Banking

CAB Connects With UN FACTI

Castries, Saint Lucia, Thursday, July 23rd 2020: The Caribbean Association of Banks (CAB) Inc. was on Thursday, July 23rd 2020 offered the opportunity to engage in dialogue with the United Nations High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (UN FACTI Panel). Led by chairperson, Mr. Dalton Lee, the recognised voice for the Caribbean banking and financial services sector addressed panelists on the issues and challenges affecting the industry in the region. The 75-minute…

The Scourge Of EU Blacklisting

Some have long viewed the Caribbean as a true paradise for vacationers and tax evaders alike. As it relates to the latter, there have been tremendous efforts at the national and regional levels to change this unwarranted narrative. Yet, as a region, we seem to be locked into a perpetual dance with the European Union (EU), being called off and back on to the dancefloor of the proverbial “blacklist.”…

CAB Bulletin Issue 2, April 2020

Welcome to Issue 2 of The CAB Bulletin! This issue includes a tribute to our late director, Mr. Sean Husain; an exclusive interview with the CEO of the Jamaica National Group, Hon. Earl Jarrett, on his organisation’s acquisition of a banking licence to operate in the United Kingdom; an update on COVID-19; and an overview of recent and upcoming CAB events. Enjoy!  Download     …

Proposed Sale of Canadian Banks in the Caribbean Under Review

Saint Kitts and Nevis, Friday, February 21st, 2020: Governor Timothy Antoine of the Eastern Caribbean Central Bank (ECCB) has confirmed that his organisation is reviewing applications for the intended sale of banking assets within the Eastern Caribbean Currency Union (ECCU) jurisdiction. Governor Antoine spoke at a press briefing on Friday 14 February 2020, following the 95th Meeting of the ECCU Monetary Council at ECCB headquarters in Basseterre, St. Kitts and Nevis. In November 2019, Canadian Imperial Bank of Commerce declared…

CAB CEO To Speak At Major Meetings

Saint Lucia, Monday February 3rd, 2020: The recognised voice of the region’s banking and financial services sector will be heard at gatherings in Cuba and Trinidad and Tobago this week. Ms. Wendy Delmar, Chief Executive Officer of the Caribbean Association of Banks (CAB) Inc., will be delivering presentations at the CANTO annual general meeting in Havana, and the ACAMS AML Symposium in Port of Spain.   Ms. Delmar will be addressing the CANTO AGM on Tuesday morning on the subject,…

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…

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 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…

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 – en Kredietbank Godo G.A., Suricharge Bank…