Regional countries urged to strengthen AML/CFT to deal with correspondent banking
From Antigua Observer PORT OF SPAIN, Trinidad, Nov 4, CMC – Caribbean countries have been urged to strengthen their Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) legislation as well as their administrative procedures as the region seeks to combat with…
De-risking blamed on overzealous regulations
By Ken Richards From winnfm St Kitts and Nevis (WINN): Overzealous regulations are what’s fueling the loss of correspondent banking relations in the Caribbean and elsewhere, according to Foreign Affairs Minister Mark Brantley. The matter received some traction when Central…
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Anguilla under siege
By Tyrone Hodge “Where there is no vision, the people will perish; but he that keepeth the law happy is he.” ~ Proverbs 29:18 Just when you think you’ve seen it all, a new catastrophe is added to the already…
Curacao prosecutors suspect central bank president of fraud
From Caribbean News Now WILLEMSTAD, Curacao — Justice officials and police officers concluded extensive searches on Wednesday at the residence of Central Bank of Curacao and St Maarten (CBCS) president Emsley Tromp and an office address of Gregory Elias in…
Dutch Caribbean Islands trying to tackle Banking issues, looking for solutions to safeguard economy
From St Martin News PHILIPSBURG: — Minister of Finance Richard Gibson Sr. told reporters on Wednesday at the Council of Ministers press briefing that he recently returned from the United States as he was part of a delegation put together…
Barbados wants to become the Caribbean FinTech Capital
By Eduardo Gómez From The Merkle Barbados the Caribbean country has been on the media scope for a while, the nation experienced a surge of media coverage regarding the adoption of Blockchain technology, along with FinTech innovations, Bitt the Barbados-based…
Bahamian banks in correspondent hit
By NEIL HARTNELLFrom Tribune 242 Bahamian financial institutions are facing “heightened due diligence” from their correspondent banks, with some revealing this has negatively impacted their operations in areas such as remittance services. Abhilash Bhachech, the Central Bank’s inspector of banks…
Antigua Barbuda Investment Bank ends operations, taken over
From The Montserrat Reporter ST JOHN’S, Antigua, CMC – The Antigua and Barbuda government says the operations of the troubled Antigua Barbuda Investment (ABI) Bank “would cease immediately” [Nov 28 2015] after announcing that the financial institution is being taken…
BELIZE: First Caribbean crippled by mass sickout of bank employees
From 7 News Belize (September 11, 2015) Today, First Caribbean Bank Branches across the country were closed – because no one showed up for work! The employees staged a sick out after they learned that the vesting act to transfer…
Iran uses a Chinese bank to fund Middle East wars
Louis Charbonneau, Jonathan Saul And James Pomfret, Reuters From Business Insider Thomson Reuters General view of Central Bank of Iran building in Tehran NEW YORK/LONDON/SHENZHEN (Reuters) – There is no trace of Shenzhen Lanhao Days Electronic Technology Co Ltd at…
