derisking
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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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‘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 to employ lobbyist as it tackles corresponding banking issues
GEORGETOWN, Guyana, Feb 17, CMC – Caribbean Community (CARICOM) leaders have agreed to employ the services of a lobbyist to help the region deal with the issue of de-risking in the banking sector, Antigua and Barbuda’s Prime Minister Gaston Browne has said. Correspondent banks, which are mainly large, international banks domiciled in the United States of America, Europe and Canada,…
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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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