Caribbean De-Risking
The Caribbean is facing a major emerging challenge, aptly referred to as the correspondent banking crisis.
The manifestations of the problem, which deepened after the 2008 global financial crisis, have resulted in the restriction of services from large international banks or closing of accounts belonging to several financial entities, such as domestic banks and money transfer businesses globally, but disproportionately negatively affecting developing regions of the world.
FAQ
Correspondent banks provide the Caribbean with vital access to the international financial system.
Answered questionsWhat’s New
Chairman’s Statement at the conclusion of the Global Conference on Correspondent Banking, de-risking and the labelling of the Caribbean as a tax haven Antigua and Barbuda.
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