Category: News

Statement on the Regulation of Banking Fees in Belize

The Caribbean Association of Banks Inc (CAB) as the representative body and recognised voice for banks and other financial institutions in the Caribbean has been closely monitoring the recent developments in Belize related to the implementation of Practice Direction No. 7 of 2023 – Restriction of Fees and Charges in the Domestic Banking Sector (PD7) by the Central Bank of Belize. The concerns expressed by Belizean banks in response to PD7 are profound and warrant careful consideration. While the CAB…

CAB Bulletin- December 2023

Here is our December 2023 edition of the CAB Bulletin: Official Newsletter of the Caribbean Association of Banks Inc. In this issue, we take a moment to highlight the initiatives and undertakings of 2023.   If you have any feedback, ideas, an article or suggestions for next quarter’s newsletter please don’t hesitate to email us at cab@candw.lc   Download or read the newsletter here CAB Bulletin December 2023…

CAB AGM And Conference: Embracing Change and Building Resilience in a Dynamic Environment

Castries, Saint Lucia, 23 October 2023: The Caribbean Association of Banks Inc (CAB) is pleased to announce its Annual General Meeting (AGM) and Conference under the theme “Embracing Change and Building Resilience in a Dynamic Environment”. The Conference is slated for 24 – 28 October 2023 and will be hosted in Trinidad and Tobago. There have been exciting inclusions to the 2023 AGM and Conference agenda which includes an SME Workshop and Marketplace under the theme “Nurturing a Big Business…

Position Statement on Caribbean Banking Services

The Caribbean Association of Banks Inc. (CAB) is proud to represent the interests and concerns of the Caribbean banking and financial services industry. We recognise the critical role played by the industry in the facilitation of business and trade which underpins the growth of our economies. It is with consideration of the previous, that we wish to state our recognition of the frustrations articulated by members of the public (our valued customers and clients) regarding the expressed onerous requirements and…

Mastercard and The Caribbean Association of Banks Inc Sign a Memorandum of Understanding

Mastercard, a global technology company in the payments industry, has announced the signing of a Memorandum of Understanding (MoU) with the Caribbean Association of Banks Inc (CAB), the representative body and recognized voice for banks and other financial institutions in the Caribbean. The partnership’s central objective is to enable cross-border payments across all CAB member jurisdictions, as a powerful tool to tend to the region’s unbanked and underbanked populations and bolster financial inclusion and economic growth. As part of its…

FIBA Conference: A New Take on De-Risking

Saint Lucia, Wednesday 29 March 2023- Thursday 16 March concluded the 2023 FIBA AML Conference which was hosted at the Trump National Doral in Miami, Florida, USA. The last of the conference was the Annual Caribbean Financial Roundtable where Chief Executive Officer, Ms. Wendy Delmar represented the Caribbean Association of Banks Inc. Ms. Delmar shared that the roundtable ended on a positive note. This year’s Roundtable featured industry leaders and speakers from US and Caribbean financial institutions including banks, fintech companies…

Republic Bank partners with the Forestry Division to plant over 120 Trees

CASTRIES, St. Lucia- –Republic Bank (EC) Limited-St. Lucia partnered with the Ministry of Agriculture Fisheries, Food Security and Rural Development, Forest and Land Resources Division to engage in a tree planting initiative, on March 11, 2023. The tree planting exercise took place at the beautiful Marquis Estate located in Babonneau where approximately 120 trees were planted by Republic Bank staff. According to Gezella Claxton – Senior Country Lead for Republic Bank St. Lucia Branches, “It was so heartwarming to see…

Antigua Student Aces CAPE® Financial Services Studies 🇦🇬

Miss Kiasha Warner is the second recipient of the Caribbean Association of Banks (CAB) Inc. Award for Most Outstanding Performance in CAPE® Financial Services Studies. A student of Antigua State College in Antigua & Barbuda, Miss Warner was so recognised when the Caribbean Examinations Council (CXC®) hosted its 2022 Regional Top Award Ceremony. Miss Warner received a trophy, and an award of USD $2,500.00 from CAB, the representative body and established voice for the regional banking and financial services community.…

Central Bank authorizes two companies to issue electronic money in Trinidad and Tobago 🇹🇹

The Central Bank of Trinidad and Tobago (CBTT) says it has issued provisional registrations to two additional companies, including the Telecommunication Services of Trinidad and Tobago (TSTT) as electronic money (e-money) issuers. The CBTT said the provisional registration, which has also been given to PESH Money Limited (PESH), cover an initial six-month period and authorizes the two companies to issue e-money from March 1, 2023. “Under the terms of the registrations, both companies will be allowed to enlist new customers…

Bank of Nevis Limited Completes BON Bank Limited Acquisition 🇰🇳

The Eastern Caribbean Central Bank (ECCB) has advised that effective 1 February 2023, the operations of BON Bank Limited, located at Chapel Street, Charlestown, Nevis will cease, having been subsumed into the operations of The Bank of Nevis Limited. BON Bank Limited was formerly RBTT Bank (SKN) Limited and owned by Royal Bank of Canada (RBC). Under Phase I of the RBC acquisition, the Bank of Nevis Limited acquired the 95.78 per cent majority shareholding and 1000 Class A shares…