Key Decisions Reached During Caribbean Financial Access Roundtable Talks

PM Mia Amor Mottley (c), Congresswoman Maxine Waters and PM’s Special Envoy on Investment and Financial Services, Professor Avinash Persaud. (Photo via Prime Minister’s Office)

(Barbados Government Information Service Press Release) A number of key decisions have been reached during the one-day Caribbean Financial Access Roundtable with the US Congressional Delegation.

Prime Minister Mia Amor Mottley shared this news at a press conference Wednesday evening, as she disclosed that congressional hearings would hopefully take place later this year, to allow CARICOM leaders to put their case on matters pertaining to correspondent banking.

Ms. Mottley said: “The most important decision that we made…is that the US Congressional Delegation has agreed that this issue is of such major import, that it really now merits congressional hearings to allow us to bring not only those who are here in Barbados today, but to expose this issue to a wider audience.

“And, also to bring those other banks who may well be benefitting from our business, but who are not willing to share in the burden that may be necessary in meeting additional regulatory issues as it relates to giving us the opportunity to be beneficiaries of correspondent banking relationships.”

The Prime Minister said it was also agreed that there would be an annual Caribbean-US Banking Forum, with the Caribbean Development Bank providing assistance. The Forum is expected to be held in October this year.

read more at: Barbados Government Information Service

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