{"id":2318,"date":"2017-05-26T12:16:30","date_gmt":"2017-05-26T12:16:30","guid":{"rendered":"http:\/\/antiguanewsroom.com\/?p=2318"},"modified":"2017-07-23T17:35:53","modified_gmt":"2017-07-23T17:35:53","slug":"tci-wants-caricom-to-maintain-unified-position-on-de-risking","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/tci-wants-caricom-to-maintain-unified-position-on-de-risking\/","title":{"rendered":"TCI wants CARICOM to maintain unified position on de-risking"},"content":{"rendered":"<div id=\"antig-1933680074\" class=\"antig-ecab antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-1954270798\" class=\"antig-before-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/medicalbenefitsscheme\" aria-label=\"ce741a73-c70c-446b-af7f-da2abe2b62bb\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 1200w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:341\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1200\" height=\"400\"   \/><\/a><\/div><p>The Turks and Caicos Islands has appealed to Caribbean Community (CARICOM) countries to continue to main a united position on the issue of de-risking and the loss of corresponding banking relationships (CBRs).<\/p><div id=\"antig-1423534856\" class=\"antig-content_5 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"PHOTO-2026-04-29-09-48-12\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-29-09-48-12.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-29-09-48-12.jpg 1280w, https:\/\/mlavawteztbj.i.optimole.com\/w:240\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-29-09-48-12.jpg 240w, https:\/\/mlavawteztbj.i.optimole.com\/w:819\/h:1024\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-29-09-48-12.jpg 819w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-29-09-48-12.jpg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-29-09-48-12.jpg 1229w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1280\" height=\"1600\"   \/><\/a><\/div>\n<p>Premier Sharlene Cartwright-Robinson, who came to power in this Overseas British Territory last December, said that she is aware that the 15-member regional integration movement has been looking at the entire issue of de-risking.<\/p>\n<figure id=\"attachment_173383\" class=\"wp-caption alignleft\"><a href=\"http:\/\/cananewsonline.com\/main\/wp-content\/uploads\/2017\/05\/Sharlene-Cartwright-Robinson.jpg\"><img decoding=\"async\" class=\"wp-image-173383 size-full\" src=\"http:\/\/cananewsonline.com\/main\/wp-content\/uploads\/2017\/05\/Sharlene-Cartwright-Robinson.jpg\" alt=\"Sharlene Cartwright-Robinson\" width=\"400\" height=\"400\" \/><\/a><figcaption class=\"wp-caption-text\">Premier Sharlene Cartwright-Robinson (CMC Photo)<\/figcaption><\/figure>\n<p>\u201cWhat we find in the Turks and Caicos Islands is an attempt to de-risk entire sectors and that is not the way to go. We are trying to, for example, assess our financial services sector, we are complying with the various standards\u2026but yet the goal post is moving every time we comply with the last standard and everybody else is coming up with their own standard\u2026,\u201d she said.<\/p><div id=\"antig-1993362397\" class=\"antig-content_4 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-4065588936\" class=\"antig-content_12 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"uwi\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/uwi.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/uwi.jpg 1080w, https:\/\/mlavawteztbj.i.optimole.com\/w:240\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/uwi.jpg 240w, https:\/\/mlavawteztbj.i.optimole.com\/w:819\/h:1024\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/uwi.jpg 819w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/uwi.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1080\" height=\"1350\"   \/><\/a><\/div>\n<p>\u201cApart from that, our concern is also that you are looking at the casino industry, a sector that is a threat for \u2026de-risking the entire sector,\u201d she said, warning it may result in the illegal movement of \u201csuitcases of money\u201d.<\/p><div id=\"antig-2647894020\" class=\"antig-content antig-entity-placement\"><a href=\"https:\/\/www.antiguabarbudaculinarymonth.com\/\" aria-label=\"culinary\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:843\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:843\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 2560w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:132\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:337\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:675\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 1536w, https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:842\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 2048w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"2560\" height=\"1124\"   \/><\/a><\/div>\n<p>Earlier this year, the Barbados-based Caribbean Development Bank (CDB) said it would be providing US$250,000 to strengthen financial transparency, and assist in preventing the loss of correspondent CBRs in the region.<br \/>\nIt noted that in the Caribbean, CBRs facilitate a number of payment systems, including international trade, cross-border payments and receiving of remittances.<\/p>\n<p>But recently, some large international banks have started terminating or severely limiting their CBRs with smaller local and regional banks, in an effort to reduce exposure to risks associated with money-laundering and financing of terrorism.<\/p><div id=\"antig-1839921385\" class=\"antig-content_2 antig-entity-placement\"><a href=\"https:\/\/www.courts.com\/antigua\/\" aria-label=\"IMG_0783\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png 500w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:150\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png 150w\" sizes=\"(max-width: 500px) 100vw, 500px\" width=\"500\" height=\"500\"   \/><\/a><\/div>\n<p>The CDB project will be a pilot initiative, and will include the Bahamas, Barbados, Belize, Jamaica, and seven-member states of the Organisation of Eastern Caribbean States (OECS).<\/p>\n<figure id=\"attachment_173262\" class=\"wp-caption alignleft\"><a href=\"http:\/\/cananewsonline.com\/main\/wp-content\/uploads\/2017\/05\/Warren-Smith.jpg\"><img decoding=\"async\" class=\"wp-image-173262 size-full\" src=\"http:\/\/cananewsonline.com\/main\/wp-content\/uploads\/2017\/05\/Warren-Smith.jpg\" alt=\"Warren Smith\" width=\"400\" height=\"400\" \/><\/a><figcaption class=\"wp-caption-text\">CDB President Dr. Warren Smith (CMC Photo)<\/figcaption><\/figure>\n<p>It has three components: Strengthening the implementation of, and compliance with, international financial integrity standards by governments in the region, including updating laws and regulations as required. Increasing the technical capacity of banks and credit unions in the Caribbean to conduct customer due diligence, and adopt anti-money laundering best practices.<\/p><div id=\"antig-190783088\" class=\"antig-content_3 antig-entity-placement\"><a href=\"https:\/\/www.courts.com\/antigua\/\" aria-label=\"IMG_1115\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/IMG_1115.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/IMG_1115.jpeg 1080w, https:\/\/mlavawteztbj.i.optimole.com\/w:240\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/IMG_1115.jpeg 240w, https:\/\/mlavawteztbj.i.optimole.com\/w:819\/h:1024\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/IMG_1115.jpeg 819w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/IMG_1115.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1080\" height=\"1350\"   \/><\/a><\/div>\n<p>The CDB said this will include training for staff at financial institutions. Improving public-private sector coordination with regulators to more effectively address de-risking and develop a mechanism for ongoing dialogue between this group and external regulators and foreign banks.<\/p><div id=\"antig-2708606362\" class=\"antig-content_6 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div>\n<p>The project will be implemented over three years in partnership with the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group.<\/p>\n<p>CDB President Dr. Warren Smith, speaking to reporters at the end of the 47<sup>th<\/sup> annual meeting of the bank\u2019s board of governors, said that from the CDB\u2019s perspective de-risking \u201cis one of the biggest dangers to our growth and development that we have faced in recent times.<\/p>\n<p>\u201cIt is so because we are small open economies and for that reason we have to depend on very regular trade. You cannot engage in trade if you cannot engage with the international financial system.<\/p>\n<p>\u201cYou have to be able to move money in and out of your country. It is as simple as that. So it is something that needs to be addressed, needs to be resolved,\u201d he said, warning however \u201cthe resolution is not a simple one\u201d.<\/p>\n<p>\u201cThere are very very moving parts here,\u201d Smith said, noting however that the region needs to ensure that \u201cour jurisdictions are credible, that we cannot be accused of being vulnerable to quote, unquote dirty money.<\/p>\n<p>\u201cSo that is what is within our control and I think that is where we need to place greatest attention,\u201d he said making reference to the CDB\u2019s financial assistance to countries to have their jurisdictions assessed on a regular basis to ensure that their jurisdictions are in good order.<\/p>\n<p>\u201cBut the point is I don\u2019t think we are at the point yet where we have found the silver bullet, but it is a work in progress,\u201d he said.<\/p>\n<div id=\"antig-938780929\" class=\"antig-in-comments_2 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/@hadeedmotorsltd\" aria-label=\"Hadeed_WEB_Banner_MG-2\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 1000w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:75\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:192\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1000\" height=\"250\"   \/><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>The Turks and Caicos Islands has appealed to Caribbean Community (CARICOM) countries to continue to main a united position on the issue of de-risking and the loss of corresponding banking relationships (CBRs). Premier Sharlene Cartwright-Robinson, who came to power in this Overseas British Territory last December, said that she is aware that the 15-member regional [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-2318","post","type-post","status-publish","format-standard","hentry","category-regional"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TCI wants CARICOM to maintain unified position on de-risking - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/tci-wants-caricom-to-maintain-unified-position-on-de-risking\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TCI wants CARICOM to maintain unified position on de-risking\" \/>\n<meta property=\"og:description\" content=\"The Turks and Caicos Islands has appealed to Caribbean Community (CARICOM) countries to continue to main a united position on the issue of de-risking and the loss of corresponding banking relationships (CBRs). 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