Welcome to Issue 7 of the CAB Bulletin In this issue, we review the 5th CEO & Directors’ Forum, take a deep dive into our annual Travel Survey (especially relevant now!), and start prepraing for CAB Conference Saint Lucia 2021. We also feature our extension of SVG Relief Support, our new partership with CGTI, the launch of the CAB CAB Hall Of Fame, & MORE! Enjoy! DOWNLOAD…
The Caribbean Association of Banks (CAB) Inc., the recognised voice for the region’s banking and financial services industry, today announced that their secretariat will be moving to a new location. Effective 1 August 2021, the organisation will have its physical headquarters at Bella Rosa, Gros Islet, Saint Lucia. All other contact information remains unchanged. The move places CAB closer to the head offices for several of the local banks, which fall under its umbrella. The new CAB headquarters will also…
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.…
Bank of Jamaica (BOJ) Governor, Richard Byles, says work is being finalised to commence pilot implementation of the proposed central bank digital currency (CBDC) locally, in August. Mr. Byles indicated that technical support for the CBDC’s rollout, among other inputs, are being reviewed to facilitate onboarding of the first financial institution – National Commercial Bank (NCB) – to test the system. The Governor said between September and December, the BOJ will look to onboard more banks, adding that “we will…
Rodney Bay, Saint Lucia. An unprecedented collaboration has been agreed between the Caribbean Association of Banks (CAB) Inc. and the Caribbean Governance Training Institute (CGTI), aimed at strengthening the Caribbean banking industry through the provision of comprehensive good governance training. As the number one governance training and certification institute in the Caribbean Region, CGTI will now become the exclusive governance training provider for CAB, offering its unique suite of internationally recognized courses to the 81 bank members of the CAB.…
The Caribbean Association of Audit Members Inc. (CAACM) was established in June, 2006 with its overall objective of improving the investment environment in the Caribbean region, and increasing investor confidence in the integrity of financial reporting and investor information through the continuous development of audit committee members. 15 years later, in June 2021, the members of CAACM voted to wind up and dissolve the organisation. This was agreed at an extraordinary virtual meeting on Wednesday, 16 June. Over the life…
More than 10% of the population of Saint Vincent and the Grenadines was displaced by the repeated eruptions of the La Soufrière volcano in April 2021. The eyes of the world were on the Breadfruit Isle. Crops were destroyed, homes covered in pyroclastic flow, and evacuees forced to move into shelters, or made to seek refuge with friends and family in other parts of the country or overseas. Ashfall continued to affect neighbouring territories for several weeks after the initial…
A Caribbean financial technology partnership has been given global recognition. In March 2021, the Eastern Caribbean Central Bank (ECCB) launched the world’s first retail central bank digital currency (CBDC) within a currency union. DCash, as the CBDC is known, was developed and deployed in collaboration with Bitt, a global fintech company based in Barbados. Both the ECCB and Bitt were recognised on 16 June 2021, in Central Banking’s fourth annual FinTech RegTech Global Awards. The awards highlight official institutions’ success…
In a deal set to power a new financial landscape, MC Systems, the technology member company of The Jamaica National Group, has acquired Phoenix International, a world leading core banking platform, built with trusted Microsoft technology, to enhance their suite of financial services in the Caribbean, Latin America and Africa. This solution will enable financial institutions to rise above their competition, transform their business and deliver superior customer service, at an affordable price. Dwayne Russell, general manager, MC Systems said…
Welcome to Issue 6 of the CAB Bulletin. Inside, we look at some of the activities we have held over the first quarter of the calendar year, including Correspondent Banking Revisited: Financial Inclusion Perspective, and IFRS 9 Impairment: For Theory to Practice. We also get you set for our Master Class series, which includes discussion from industry leaders in Green Financing and Climate, Resilient Finance, and Financial Technology. Speaking of financial technology, we take a deep dive into Endcash. And…
