Finance
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Survey on concerns about financial services launched
The CARICOM Secretariat is developing a common financial consumer protection (FCP) regime to regulate the conduct of financial service providers (FSPs) and to protect clients of financial institutions in CARICOM Member States. This project is part of the Strengthening Framework for CARICOM Integration and Cooperation Processes and is funded by the 11th European Development Fund. Click on the link to…
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Energy Services Customers to Benefit Most from New CARICOM-led Credit Risk Initiative
(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) Customers for energy services across the Caribbean Community (CARICOM) are expected to be the main beneficiaries of an ongoing initiative that seeks to facilitate ease of access to credit for small and medium enterprises (SMEs) within the Region’s energy sector. The Credit Risk Abatement Facility (CRAF) is currently being developed by the CARICOM Development Fund (CDF) – a…
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CARICOM Business News
Please see the latest edition of the CARICOM Business newsletter which comprises information culled from news entities in the Caribbean and beyond and includes a Foreign Exchange Summary, a Stock Exchange Summary and International Oil Prices. CARICOM Business 16 Feb 2018
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‘Looming’ issue of de-risking in Region remains high on CFATF agenda
Executive Director of the Caribbean Financial Action Task Force (CFATF), Calvin Wilson has said that de-risking or the loss of correspondent banking relations is looming largely across the Caribbean region because of what is being perceived by international financial institutions as “high-risk jurisdictions operating in a high-risk region.” Wilson is disagreeing with this perception on the basis that many of the…
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Region needs to develop digital financial services sector – CTU President
Port of Spain, Trinidad and Tobago – “The ITU, UNECLAC, the CTU, the various bankers’ associations, the central bankers, the anti-money laundering regulators, the digital financial Services technology providers, the cyber security experts and the consumer protection officials need to see how we, as a region, can develop our regional DFS sector,” stated Hon. Darcy W. Boyce, the President of the…
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Antigua-Barbuda strongly objects to being listed as a tax haven by Illinois
ST JOHN’S, Antigua — Antigua and Barbuda on Wednesday registered strong objections with the US state of Illinois, which has introduced legislation listing Antigua and Barbuda and ten Caribbean Community (CARICOM) countries along with six other Caribbean jurisdictions as tax havens. In letters to Speaker of the House of Representatives of the Illinois General Assembly, Michael Madigan and House Representative…
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Guyana seeking options to enact anti-money legislation
GEORGETOWN, Guyana, Oct 1, CMC – The Guyana government says it is in the process of putting in place alternatives to address the technical deficiencies in its existing legal and financial legislative measures for the assessment of the Financial Action Task Force (FATF). Attorney General and Legal Affairs Minister Anil Nandlall, who led a delegation to Miami for talks with…
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Grenada, United States Come to Agreement on FATCA Law
Grenada and the United States have reached an inter-governmental agreement under the latter’s Foreign Account Tax Compliance Act, the Grenadian government announced Monday. Grenada’s government said it completed the negotiation of a model 1 inter-governmental agreement on June 16 to enable FATCA compliance. The agreement requires Grenadian financial institutions to submit information on US clients to the Inland Revenue Department…
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Jamaica to Tax Bank Withdrawals
amaica’s government is planning a new measure that would impose a levy on withdrawals from banks. Part of a revenue-raising scheme for a government that continues to be in a serious debt situation, the levy “will be chargeable on all withdrawals from deposit-taking institutions by way of electronic banking, point of sale transactions, cheques, automated banking machine (ABM), automated teller…
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