Category: Correspondence Banking

CAB and Montserrat 🇲🇸 Premier to Attend BAFT Global AGM

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MONTSERRAT/WASHINGTON – The Premier of Montserrat, Hon. Joseph E Farrell will be on overseas duty from April 23 to May 5, 2022 as he will be attending meetings in Miami and Washington, DC. Premier Farrell, whose portfolio includes Tourism, will attend the Seatrade Cruise Global Conference in Miami Beach, Florida from Monday April 25 to Thursday April 28, 2022. His delegation will include the Director of Tourism, Rosetta West-Gerald; Project Manager at the Tourism Division, Charlesworth Phillip and Private Sector Representative, Tour…

FIBA Conference Provides Opportunities for Caribbean Banks

posted by Category: Correspondence Banking, General, News 0 Comment
In deep discussion -

Saint Lucia, Friday 25 March, 2022: The Caribbean Association of Banks (CAB) Inc. has expressed satisfaction with the just-concluded FIBA AML Compliance Conference, which was held 28 February to 2 March at the Trump National Doral in Miami, Florida, USA. CAB Chairperson Mr. Dalton Lee and CEO Ms. Wendy Delmar profited the opportunity to engage with bankers, financial services professionals, regulators, and service providers from across the Americas, as well as officials of various US government regulatory agencies. One of…

Caribbean Bankers Urged To Show Leadership

posted by Category: Anti-Money Laundering, CAB, CBDC, Correspondence Banking, COVID-19, FinTech, General, News 0 Comment

Saint Lucia, Tuesday, November 2nd, 2021: Nearly 150 Caribbean commercial bankers, private bankers, regulators, regional and international agencies, service and solution providers, and vendors convened online in recent days for CAB Conference 2021. For the first time, the Caribbean Association of Banks (CAB) Inc. organised the region’s foremost gathering for the financial services industry via a virtual fair, having met face-to-face in years prior. The event took place October 26-29, 2021. The theme of this year’s Conference – Beyond The Pandemic…

Indigenous Banks In The ECCU, Aruba Agree To Buy CIBC FCIB Operations

posted by Category: CAB, Correspondence Banking, News 0 Comment

FirstCaribbean International Bank Limited has announced that its wholly-owned subsidiary, FirstCaribbean International Bank (Barbados) Limited (“FCIB Barbados”), has agreed to sell its banking assets in St. Vincent and the Grenadines, Grenada, the Commonwealth of Dominica, and St. Kitts and Nevis, to: The Bank of St. Vincent and the Grenadines Ltd., Grenada Co-Operative Bank Limited, National Bank of Dominica Ltd., and St. Kitts Nevis Anguilla National Bank Ltd. Its wholly-owned subsidiary, FirstCaribbean International Bank (Cayman) Limited, has agreed to sell its…

JN Bank UK Rated ‘Excellent’ by Consumers on Global Review Site

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JN Bank UK, the JN Group subsidiary company, which, in October 2020, became the first Caribbean bank to be established in the United Kingdom, has been rated “excellent” by reviewers on the Danish consumer review website, Trustpilot.com. The site reviews businesses worldwide, with nearly a million reviews posted each month. The company is listed on the London Stock Exchange. JN Bank UK received an aggregate score of 4.8 out of five by 349 consumers who posted reviews to the site.…

EU Blacklists Four Caribbean Territories, Saint Lucia Delisted

posted by Category: Anti-Money Laundering, Correspondence Banking, News 0 Comment

Saint Lucia, Friday, February 26th, 2021: The Council of the European Union (EU), on 22 February 2021, announced changes to the EU list of non-cooperative jurisdictions for tax purposes. Several of these changes affect Caribbean jurisdictions. Four territories in the region are on the “blacklist.” The status of Anguilla, Trinidad and Tobago, and the United States Virgin Islands remains unchanged from the last bulletin. According to the EU conclusion, unresolved issues with these countries may include the following: Not rated…

JN Bank UK to Address Financial Inclusion, De-risking

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KINGSTON, Jamaica – Earl Jarrett, chief executive officer of The Jamaica National Group, said its newest subsidiary company, JN Bank in the United Kingdom (UK), will seek to address financial inclusion for several unbanked or under-banked persons in the UK, as well as pursue correspondent banking services for Caribbean banks in the future. The bank is the first Caribbean-owned bank to be established in the UK. Quoting the UK Financial Inclusion Report of 2017, Mr. Jarrett said there were some 1.23…

CARICOM decries “unilateral, arbitrary” EU blacklisting

posted by Category: Anti-Money Laundering, CAB, Correspondence Banking, COVID-19, FATCA, News, Uncategorized 0 Comment

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…

The FinCEN Files – A Caribbean Perspective

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On Sunday 20 September 2020, BBC News made public the findings of an investigation into the contents of thousands of documents which were leaked from the United States Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) to Buzzfeed News. In a matter of minutes, the story was carried by every major international news outlet. Of particular interest were the details of over 2,100 Suspicious Activity Reports (SARS) which were filed by banks and other financial institutions and submitted to FinCEN.…

CAB Connects With UN FACTI

posted by Category: Anti-Money Laundering, Correspondence Banking, FATCA, News 0 Comment

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…