Thursday September 6th, 2018: The Caribbean Association of Banks (CAB) commends the Council for Finance and Planning (COFAP) for reaffirming the commitment towards the Caribbean Single Market and Economy and its significance for the regional financial sector, at the 6th Special Meeting of the Council on 4th September 2018 in Barbados.
The CAB views the resolution taken at this meeting as a step in the right direction to re-energize the regional integration commitment. The CAB is pleased to note that the Council has agreed to addressing the following areas which contribute to building capacity and efficiency within the financial services industry, as well as stimulate lending to productive sectors of the regional economies:
- Enhancing the financial safety-net through deposit insurance;
- Developing a regionally integrated capital market; and
- Harmonizing credit reporting systems and legislation.
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