Monday November 26th, 2018: The Caribbean Association of Banks (CAB) fully supports the Bankers Association of Trinidad and Tobago’s (BATT) efforts to have its Parliament enact the necessary legislation for compliance with international Exchange of Information on Request (EOIR) and Automatic Exchange of Information (AEOI) standards, as directed by the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes, and the Financial Action Task Force (FATF). As highlighted by the BATT, “Failure to pass this legislation could disrupt the smooth flow of correspondent banking relationships between domestic banks and our international correspondents”.
The CAB recognizes and commends the effort thus far of Regional territories which have committed to international standards to combat tax avoidance/evasion and money laundering and terrorist financing.
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