Caribbean News Now!

About Us Contact Us


Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.


Submit news and opinion for publication


Click here to receive our daily regional news headlines by email.


Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin

News from the Caribbean:

Back To Today's News

ECCU banking leaders tackle amendments to Banking Act 2015
Published on April 13, 2017 Email To Friend    Print Version

Prime Minister Gaston Browne, ECCB Governor Timothy Antoine, and Prime Minister Timothy Harris at an ECCB Monetary Council Meeting in St Kitts

BASSETERRE, St Kitts -- Legislators and bankers from across the Eastern Caribbean Currency Union (ECCU) met in St Vincent and the Grenadines on Tuesday to discuss proposed amendments to the Banking Act 2015.

The Act addresses the need for effective risk-focused supervision of financial institutions to ensure the safety and soundness of the region’s financial system.

The proposed amendments were deliberated at length during a consultative and legislative drafting workshop, hosted by the Eastern Caribbean Central Bank (ECCB), after certain areas of concern were raised during the operationalization of the Act in the various ECCU member states.

The discussions were led by the ECCB Monetary Council’s Ministerial Sub-Committee, which consists of chairman and prime minister of St Vincent and the Grenadines, Dr Ralph Gonsalves; Antigua and Barbuda’s prime minister, Gaston Browne; and prime minister of St Kitts and Nevis, Dr Timothy Harris.

Also representing St Kitts and Nevis at the workshop was deputy financial secretary, Sylvia Gumbs.

Other attendees included representatives from the attorneys general chambers, the ministries of finance and other bankers associations.

The outcome of Tuesday’s discussions will be formulated in a draft bill for consideration by the various attorneys general of the ECCU, the ECCB board of directors and the Monetary Council, with the hope that those amendments will be enacted by the respective national parliaments by December 31, 2017.
Reads: 8079

Click here to receive daily news headlines from Caribbean News Now!



No comments on this topic yet. Be the first one to submit a comment.


As a result of our comments feature being overtaken in recent weeks by spammers using fake email addresses, producing a large number of bounced verification emails each day, we have reluctantly decided to suspend the comments section until further notice.

User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.

Other Headlines:

Regional Sports: