CARICOM’s Joint Meeting With United States Chair of the U.S Congress Financial Services Committee

updated Friday April 22nd. 2022, 1,30pm – This is Part (b)

In the past 5 years many banks in the Caribbean have lost their Correspondent Banking relationships; that make it a lot more challenging, for the banks and customers in the Caribbean to improve their trade and international business ambitions.

Additionally there has also been the trend into the fuzzy arena of financial-lingo known as de-risking. Whilst governments and banks in the Caribbean struggle to meet the ever higher requirements of the global-players in banking.

The ‘Financial Services and Banking Sector’ throughout the Caribbean are rapidly changing; and the challenges of ‘de-risking and Correspondent Banking’ are getting the attention of governments throughout the Caribbean.

Decisions Are Being Made That May Adversely Affect Consumers and Businesses In The Caribbean

The regional block of CARICOM Heads of States met in Bridgetown, Barbados on Wednesday April 20th. for a high-level meeting to discuss various ‘Financial Services’ concerns of CARICOM; including Money Laundering, Correspondent Banking, De-Risking and other critical sectors of the financial services industry within the Caribbean.

Also attending the high-level meeting were CEOs and senior banking representatives from banks in North America, and Senior banking representatives and CEOs from banks throughout the Caribbean.

The Caribbean – Financial Services – Round Table

The speakers of this segment were. . .

Mia Amor Motley: Prime Minister of Barbados
Maxine Waters :
United States Congress: Chairwoman of the House Committee on Financial Services.
Keith Rowley:
Prime Minister of Trinidad and Tobago
Alex Holmes
CEO – MoneyGram International

At the conclusion of the 1 day ‘CARICOM – Financial Services Round Table Meeting. Prime Minister & CARICOM Chairman Hon. John Briceno , Prime Minister Mia Mottley of Barbados and other delegates held a news conference concerning the agreements and objectives of the CARICOM Fin-Sec Round Table Conference.

CARICOM VIDEO 1 & Press Statements CARICOM VIDEO 2

Linked News Article – Part (a)

editors notes: What is Correspondent Banking

Written & Compiled by: channel1Belize.com / digitalBelize,LIVE Staff writer – Thursday, April 21st. . 2022 – channel1belize@gmail.com