correspondent banking
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CARICOM wants inter-governmental tax body to set standards, rules
CARICOM Heads of Government have reiterated the call for the creation of an “appropriate intergovernmental tax body with the adequate means and powers to set standards and rules” which support an equitable and universal approach to an international tax governance infrastructure. The call was made Wednesday against the background of the blacklisting of countries by the European Union (EU). The strategy…
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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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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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CDB funds project to prevent loss of correspondent banking relationships
March 17, 2017, BRIDGETOWN, Barbados – The Board of Directors of the Caribbean Development Bank (CDB) has approved funding of US$250,000 to strengthen financial transparency, and assist in preventing the loss of correspondent banking relationships (CBRs) in the Region. In the Caribbean, CBRs facilitate a number of payment systems, including international trade, cross-border payments and receiving of remittances. Recently, some…
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‘Every citizen of this Community must count’ – President David Granger
The Twenty-Eighth Intersessional Meeting of CARICOM Heads of Government concluded a short while ago. I am very pleased to report that we had two successful days of discussions and decisions on issues that are important to moving the Community towards its objectives. During the course of our discussions, the Conference of Heads of Government reflected on the importance of the…
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CARICOM and Switzerland – a potential model for north-south cooperation
Secretary-General of the Caribbean Community Ambassador Irwin La Rocque accepted the Letters of Credence of His Excellency Didier Chassot, Plenipotentiary Representative of Switzerland to CARICOM on 6 February 2017, deepening CARICOM’s relationship with Switzerland. In indicating his aspiration for a concrete programme of cooperation, Amb. LaRocque identified environmental protection, renewable energy, financial services, tourism and agri-business as areas of…
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Way forward identified on correspondent banking challenge – PM Browne
Senior representatives of international financial institutions, including the International Monetary Fund and the World Bank, regulatory bodies, the European Union Commission, the OECD Global Forum, commercial banks, central banks, governments the Caribbean Community (CARICOM) Secretariat and the Caribbean Development Bank met in Antigua and Barbuda on 27 and 28 October 2016, under the Chairmanship of the Prime Minister of Antigua…
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CARICOM Deepens Regional Partnerships to Address De-risking
ST. JOHN’S, Antigua, Saturday September 17, 2016 – The Caribbean Community (CARICOM) has deepened its partnerships within the region in order to strengthen its efforts to address the withdrawal of correspondent banking services from some regional institutions. Prime Minister of Antigua and Barbuda Gaston Browne, who is leading CARICOM’s advocacy on the matter, recently met with the heads of the Caribbean…
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Antigua PM discussed corresponding banking with CDB, JNBS
(CMC) Antigua and Barbuda Prime Minister Gaston Browne met officials of the Barbados-based Caribbean Development Bank (CDB) and the Jamaica National Building Society (JNBS) on the Region’s efforts to address the withdrawal of correspondent banking services. The meeting also discussed the upcoming conference on de-risking in October in Antigua and Barbuda. Correspondent banks, which are mainly large, international banks based…
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Communiqué issued at the conclusion of The Thirty-Seventh Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM), 4-6 July 2016, Georgetown Guyana
The Thirty-Seventh Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) was held at Georgetown, Guyana, on 4 – 6 July 2016. The Prime Minister of Dominica, the Honourable Roosevelt Skerrit, chaired the proceedings. Other members of the Conference in attendance were Prime Minister of Antigua and Barbuda, Honourable Gaston Browne; Prime Minister of…
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