Category: News

Focus on Banking Opportunities & Threats at CEO Forum

Saint Lucia, Monday June 7th, 2018 : Industry leaders, CEO’s, directors, compliance professionals, key decision-makers, and representatives of regional and international bodies were in attendance this past weekend as the Caribbean Association of Banks (CAB) Inc. staged its Fourth Annual CEO and Director Forum, 7-8 June at the Hyatt Regency in Miami, Florida, U.S.A. Dozens of attendees from the Caribbean and North America discussed opportunities and threats in the regional financial services sector. Speakers at the weekend’s gathering represented some of…

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…

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…

Central Bank of The Bahamas hopes to have digital fiat currency in circulation in 30 months.

The Central Bank of The Bahamas has issued an invitation for the submission of Expressions of Interest (EOI) from suitable firms to work on the design of a reliable platform for a digital version of the Bahamian Dollar. The Bank anticipates that the piloted version of the digital currency will be in circulation within thirty (30) months. Read more HERE…

Caribbean aims to become the world’s first Climate-Smart Zone.

The Caribbean Climate-Smart Accelerator was officially launched on 9th August 2018. The accelerator brings together twenty-six (26) countries and over forty (40) private sector partners to implement transformative climate action across the Caribbean. The initiative comes from the first commitment of Emmanuel Macron’s One Planet Summit which aims to respond to the extreme natural events in the Island States via the mobilization of USD 3 billion in public-private partnerships within a USD 8 billion investment plan. Read the following links for…