Category: News

How Caribbean Banking Can Help Shape The Region Post-Pandemic

Q. Generally speaking, how has the pandemic impacted banks within the region? It has really placed all the banks in the region in a very terrible position, in my view. They’ve managed the fallout from the pandemic quite admirably. But when you think about what banks are heavily dependent on, they would tell you right away that anyone in their position would be very concerned if they were met with the financial conditions of governments not being able to pay…

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…

Innovation & Digital Transformation at The Exchange!

If there is one certainty in the world of investments and business, it is that change is inevitable. Add another certainty: saving and investing will always be fuelled by four (4) of life’s essentials, such as Education for your Children, Buying a home, Planning for Retirement, and Catering for Chronic and Critical Illness. Business models have been changing and there will be more change to come, this is squarely due to the fact that technology has rapidly evolved over the…

COVID-19 Pandemic: The Economic Impact on Caribbean Economies

Castries, Saint Lucia, Tuesday, September 7th 2020: Regional Overview The Caribbean is comprised primarily of island nations, of which, the majority are classified as small island developing states (SIDS). This characteristic of the region exposes Caribbean economies as small, open, and significantly trade-dependent; all of which are distinct features of numerous SIDS. As a result, economies within the region are rendered exceedingly vulnerable to economic shocks (both internal and external). In addition, owing to several inherent benefits of its geographical…

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,…

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…

CAB Bulletin Issue 3, July 2020

In this edition, our second for the calendar year 2020, we chat with Mr. Nigel M. Baptiste, president and CEO of Republic Financial Holdings Ltd. We also address the development of a CARICOM Real-Time Gross Settlement (RTGS) system, cybersecurity in the midst of the global pandemic, and the 2020 Atlantic hurricane season. Additionally, we look at some of the work CAB has been doing in recent months, and remind you of two of our blue-riband scholarship opportunities. APPLY NOW! Download…

Caribbean Investment Holdings signs agreement to acquire Scotiabank’s Belize banking operations

Caribbean Investment Holdings Limited has reached an agreement for the purchase of Scotiabank (Belize) Ltd. (SBL) from Scotiabank Caribbean Holdings Ltd., for an initial purchase price of up to US$30.5 million. Scotiabank Caribbean Holdings is a subsidiary of The Bank of Nova Scotia (BNS). The acquisition is subject to regulatory approval and customary closing conditions. The acquisition will be effected pursuant to a share purchase agreement among the Company, the Seller and BNS dated 19 June 2020. Under the terms…

Frequently Asked Questions – Moratorium (Bankers Association of Saint Lucia)

In these trying times, the Bankers Association of Saint Lucia is here to support you and your family. Our objective is to help you to concentrate on what is important – remaining in good health, supporting your loved ones, and of course, taking care of your finances. Our Association members are offering our valued customers, moratoriums on bank debts in an attempt to cushion the economic blow dealt by the COVID-19 Pandemic. To assist with your concerns on moratoria we…

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.”…