The Financial Services Regulatory Commission is accepted as member of the CGBS.

ST.JOHN’S, Antigua and Barbuda – 13th August 2015…….On June 12 at their CARICOM Central Bank Governor‘s Meeting , the  Governors  approved  the application of the  Financial Services Regulatory Commission  of Antigua and Barbuda to be admitted  as an associate  member of the  Caribbean Group of Banking Supervisors( CGBS) .

The CGBS was established by CARICOM Central Bank Governors in 1983 with the mandate to enhance and coordinate the harmonization of the bank supervisor practices with a view to bringing them in line with internationally accepted practices.  The membership consists of banking supervisors from seventeen regional jurisdictions namely:  Antigua, Aruba, Bahamas, Belize, British Virgin Island, Cayman Islands, Curacao, St. Maarten,   Eastern Caribbean Central Bank, Guyana, Haiti, Jamaica, St Vincent and the Grenadines, Surinam, and Trinidad and Tobago.  The CGBS is a regional grouping under the Basel Committee for Banking Supervisors.

The chairmanship is restricted to the different CARCICOM member Central Banks as the CGBS is a creation of the CARICOM Central Bank Governors.  In this regard, as an associate member Antigua and Barbuda will enjoy all the rights, privileges and responsibilities of core membership. The chair is currently held by Jamaica.

The FSRC was accepted as a member of the Group of Finance Centre Supervisors on April 27, 2015.

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PM Browne continues to forge closer ties between Antigua and Barbuda and International nations

ST.JOHN’S, Antigua and Barbuda – 13th August 2015…….Prime Minister of  the Hon. Gaston Browne continues to foster closer relations with international leaders and countries as his government works towards tackling issues that affect Antigua and Barbuda and other developing nations.

Prime Minister Browne with the Prime Minister of Sweden Stefan Lofven
Prime Minister Browne with the Prime Minister of Sweden Stefan Lofven

During a recent visit to the Horn of Africa, Prime Minister Browne met with leaders and foreign representatives of Mauritius, Seychelles, Swaziland, Cameroon and Tuvalu and pushed for foster closer relations given similarities being either small states, developing countries and our interaction within the commonwealth. Prime Minister Browne also used the opportunity to introduce the candidacy of Ambassador Sir Ronald Sanders to the post of Secretary General of the Commonwealth.  Sir Ronald’s candidacy was well received by the respective delegations.

The heads of delegations of Seychelles, Mauritius and Tuvalu commended Prime Minister Browne on his position regarding the recent European Union tax heaven black list. The countries pledged support for each other on this matter and made a commitment to work together going forward.

The delegation of Seychelles inquired of the possibility of sending a team from its Ministry of Finance to observe and learn from Antigua and Barbuda about the online gaming industry.

PM Browne with the Deputy Minister of Finance of Mexico Fernando Aportela
PM Browne with the Deputy Minister of Finance of Mexico Fernando Aportela

During his stay in Africa, Prime Minister Browne also held bilateral discussions with the head of delegation of Mexico and the Prime Minister of Sweden.

Prime Minister Browne met with the Mexican Deputy Finance Minister, Fernando Aportela regarding current bilateral cooperation in particular Mexico’s assistance to Antigua and Barbuda’s housing programme.

PM Browne being interview by South South News
PM Browne being interview by South South News

Prime Minister Browne and Prime Minister Stefan Löfven of Sweden also had fruitful discussions on cooperation and mutual interest.  Prime Minister Löfven was particularly concerned with the EU’s black listing of Antigua and Barbuda and made a commitment to look deeper into the matter. Both Prime Ministers explored developmental assistance for Antigua and Barbuda.  One area identified was assessing the drought situation and how Sweden can assist in this most urgent matter.

The country’s leader also had numerous interviews with local television in Addis Ababa, UNTV and South South News. He was singled out for his numerous strong statements on international financial reform and his commitment to addressing issues affecting Small Island Developing States.