Caribbean Association of Banks Inc was formed as Caribbean Association of Indigenous Banks in 1974 following a decision by the Eighth Meeting of the Heads of Government Conference in 1973 and the Inaugural Meeting of the Standing Committee of Ministers Responsible for Finance.
The main purposes of the Association are defined in the Core Objectives. The Association was formed in response to the recognized need for member territories to mitigate the risk of reliance on external providers and share in the ownership and development of a financial services industry with the capacity to satisfy the financial needs of the people of the Region, whilst at the same time meeting regional and international regulatory requirements and standards.
The CARICOM Secretariat provided sterling support, maintaining the records and lending stability and continuity in the absence of a CAB Secretariat from the start until the organization established a permanent Secretariat in Georgetown, Guyana in 1998. The Secretariat was moved to Saint Lucia in 2002 and is staffed by five permanent employees including a Chief Executive Officer, who is responsible for the day to day management of the Association.
To be the collective voice that protects, promotes and strengthens the regional banking sector.
To proactively influence matters of interest to financial institutions through advocacy and education.
Our values are based on achieving and maintaining high training deliverables; excellent service; financial viability; productive and engaged association members, through:
- Integrity: We are truthful, transparent and deliver what is promised.
- Accountability: We accept the responsibility for the consequences of our actions and uphold the principles of good corporate governance.
- Commitment: We agree to live up to our responsibilities.
- Confidentiality: We adhere to agreements and standards on disclosure of information
- Cooperation: We are willing to work with others to achieve a common goal.
- Capacity Building: We agree to focus on developing people and providing access to value added services.”