Business
Caribbean Association of Banks looking to expand membership
The Caribbean Association of Banks is looking to expand its membership, covering institutions that are not indigenous to the region.
Given that issues which affect banks that are native to the Caribbean also affect non-indigenous banks, the Caribbean Association of Banks has invited international financial institutions that operate in the region to become a part of its membership.
The Caribbean Association of Banks already has a strong presence in the Caribbean, and it has already shown how it can benefit non-native Caribbean banks through advocacy.
The Caribbean Association of Banks has observer status on the Caribbean Community (CARICOM) body of finance and planning, and has affiliated financial institutions in 24 regional countries.
The areas of concern in the financial services sector are rapid technological developments, identity theft and the implementation of Foreign Account Tax Compliance Act (FATCA).
(More: The new US Tax rules and their impact on the Caribbean)