Central Bank of Barbados issues new report analyzing financial services
“However, the Insurance Corporation of Barbados reported a decline in the earnings per share to US$0.15 cents per share at the end of 2011, compared to US$0.18 cents per share at the end of 2010. The company noted the weak demand for insurance stemming from difficult economic conditions in 2011 as the primary cause of the reduction in its profitability,” the central bank said.
The Bank of Barbados said that the regulatory and supervisory framework was enhanced by the passage of the Anti-Money Laundering and Financing of Terrorism (Prevention and Control) Act 2011-23 in November last year, while the Central Bank issued new policy guidelines on its intervention policy and on the management of credit risk. – CMC