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Our Vision:
“To be the collective voice that protects, promotes and strengthens the
regional banking sector. “
The CAB (formerly Caribbean Association of Indigenous Banks) has been
established since 1974. It is managed by a Board of Directors elected by the
member organisations and supported by a a
Secretariat of 5 staff members.
Our Mission:
“To proactively influence matters of interest
to financial institutions through advocacy and
education.”
Currently, the CAB represents 75 member institutions with an asset base in
excess of US$31 Billion, as at December 2015.
Our membership compliment spans three (3) distinct categories, of General,
Service and Associate members and includes three (3) Honorary Members - namely
the Caribbean Development Bank, CARICOM and the Caribbean Centre for
Money and Finance.
Our membership institutions are spread throughout 20 countries, predominantly
in the Caribbean and South America, with some service members based in
Canada and the USA.
Membership Benefits Include:
Advocacy – We lobby and negotiate on behalf of our members.
COFAP – Observer status on CARICOM’s Council of Finance
and Planning(COFAP), thus providing members opportunities to
influence policy decisions impacting the industry.
AML – Assist in the strengthening and reinforcement of
AML/CTF through the establishment of the Caribbean Anti
Money Laundering (AML) Principles in 2009.
Contacts - Access to CAB’s mailing list for business development,
social networking, information sharing etc.
Membership Benefits cont’d:
Marketing - Wider branding and high value visibility through advertisement in CAB’s Website and Annual Caribbean Account Magazine.
Concessions - Special discounted and concessionary rates from vendors and training partners for Training, Seminars, Conferences, Advertising and other services.
E-newsletter - Up to date information on what’s happening in the industry.
Membership Benefits cont’d:
Exposure - Open invitation to submit articles for our publications and E-newsletter and to share best practice.
Secretariat Support - Dedicated Secretariat team providing professional member services and support.
Member Development - Opportunities for professional development and qualifications.
Regional & International Reach - Represent CAB at local, regional and international meetings and influence policy decisions at the highest levels in CARICOM.
Some of the things that we have done and are doing:
Advocacy
Harmonization of Legislation— We are engaging regional partners
on the issue of harmonization of legislation on a number of areas such as; Credit
Bureau, Secrecy laws, Prudential Regulation, Common Financial Services
Regulation, Accounting Standards, Corporate Governance, Consumer
Protection etc.
Advocacy contd.
Correspondent Banking Relationships/De-Risking—
The CAB has undertaken several interventions which included
correspondence to the Chair and Secretary General of
CARICOM, highlighting the issue of the threat of loss of
correspondent banking relationships and its impact on the
livelihoods of Caribbean people as well as the growth and
development of the financial services sector.
The CAB was the first organisation to raise the issue of De-
risking within the CARICOM region.
Advocacy contd.
Correspondent Banking Relationships—
The CAB has been relentless in its advocacy on this issue
including:
Collaboration with many other stakeholders through presentations &
recommendations delivered at:
Bahamas Institute of Financial Services Conference –Bahamas 2015
Caribbean Banking and the Caribbean International Financial Services
Sector Workshop – Curacao 2015.
Advocacy contd.
Correspondent Banking/De-Risking
Caribbean Policy Research Institute (CaPRI) Round Table
Discussion on Correspondent Banking – Jamaica 2016.
Meeting of CARICOM’s Committee of Ministers of Finance on the
Correspondent Banking threat – Belize 2016.
FATF Private Sector Consultative Forum – Austria 2016
World Bank Group ACAMS Stakeholder Dialogue on De-Risking –
Washington 2016
Caribbean Central American Action in partnership with IDB & OAS
Conference on Finance, FinTech & the Future of Banking in the
Caribbean Basin – Washington 2016
AML /CTF
In 2009, we launched the Caribbean Anti Money Laundering
/Counter Terrorist Financing Principles & Associated
Guidelines.
We established a Caribbean Principles website
http://www.caribbean-principles.com/default.html to facilitate
easy access and adoption for our members. The site lists the names of
the banks that have adopted the Principles and the standards to which
they subscribe.
More recently, in response to the 2015 EU & District of Columbia’s
“Blacklists” which included Caribbean countries the CAB issued letters
& Press Releases to relevant stakeholders.
FATCA - Since the announcement by the United States of the enactment of
the Foreign Account Tax Compliance Act (FATCA) into law on March 18, 2010,
the CAB has been very concerned about the implications for financial services
institutions in the Caribbean and the resultant impact on the economies of the
region as a whole.
In early 2012, CAB developed a position
paper to heighten the awareness and
implications of the Act for all relevant
arties parties and stakeholders. This paper was also
submitted to CARICOM.
Subsequently, CAB, in collaboration with PWC, made a presentation on FATCA
at the 15th Meeting of the Council for Finance and Planning (COFAP), on the
30th June 2012 , St Lucia . This resulted in the formation of a CARICOM Task
Force to formulate a plan of action which would facilitate a regional approach
towards compliance. CAB is represented on this Task Force.
Other FATCA activities..... Training and awareness sessions, circulation of
updates to members and regional partners.
Initiatives
In 2006, CAB developed and launched the Caribbean Association of Audit Committee Members Inc (CAACM) to improve the investment environment in the Caribbean region and to increase investor confidence in the integrity of financial reporting and investor information through the continuous development of audit committee members.
We continue to provide operational support to the
CAACM.
CAB has participated in the Caribbean Internet Governance and Cyber Security Consultation organised by the Caribbean Telecommunications Union.
TrainingTraining conducted during the last two years …..
• Credit Risk Management - Introduction & Advanced (St Lucia)
• Enterprise Risk Management – Module 1 (Antigua)
• AMLCA & FATCA Implementation (Trinidad)
• AML Risk & Correspondent Banking (Curacao)
• Foundations of Loan Underwriting (St Lucia)
• Developing Cutting Edge Talent (St Lucia)
• Scaling Up SME Banking (St Lucia)
• The Compliance Challenge (Curacao)
• Advising Clients in a Highly Regulated Environment (Curacao)
CAB Banking Scholarships
Our Goal….To provide members with an incentive to become qualified bankers.
Our Purpose…..To provide financial assistance to CAB member employees with an interest in pursuing continued education in banking
The Award…….UWI Scholarship Award : to pursue the BSc in Banking and Finance for 3 academic years.
Three (3) scholarships are awarded as follows:
Eastern Caribbean* - USD10,000 * Includes BVI
North Western Region **- USD10,000 ** Belize, Cayman, Jamaica
Southern Region ***- USD10,000 *** Guyana, Suriname, Trinidad and Tobago
The three scholarships are awarded every three (3) years.
Credit Skills Academy
What is it & How Can it Benefit You?
On Line Learning Resource - accessible anytime, anywhere.
Flexible Study with Personalised Study Plan and Study Guide
Two Course Levels – Foundation and Advanced
Successful completion results in accreditation (Associate/Senior Associate) and educational credit towards UK Chartered Banker status
Estimated study time for each course – 200 hours over a 1 year period (4 hours per week)
Low Fees per Student – Non-Member: US$1,250
Bankers Association Member: US$1125
CAB Member: US$1,00
No Books! All material is delivered online.
Assessment Based on (all): 1. Learning Activities while studying
2. Self-Assessment questions per unit
3. A Final Test
4. Personal Credit Case Assignment
CAB Insurance Scheme
CAB and Howden have partnered to deliver a special Insurance Scheme for CAB members.
Howden is part of Hyperion, an international insurance intermediary group that provides end-to-end client solutions. Howden have the largest, wholly owned, international network of any independent broker with global reach that retains the local touch.
The CAB Policy covers:
Comprehensive Crime Electronic Computer Crime
Professional Indemnity/Professional Liability Directors & Officers Liability Insurance
Plastic Card Risks Cyber Security
Trade Credit/Policy
Key Benefits:
Substantial Reduction in Premiums
Policy Wording Which Adequately Covers Your Risk
Networking
Our annual conference provides an excellent forum for bankers, financial services
professionals and partners such as Accountants, Lawyers, Correspondent Bank
officials, Regulators etc., to facilitate both business and personal development.
We engage internationally recognised speakers on current topics so that our members
can stay abreast of legislative, regulatory and market developments that will influence
or impact the future of the industry.
Networking
Some of the topics covered at past conferences are:
21st Century Leadership – Creating the Self-Led Organisation
Corporate Governance and a Risk Management Strategy
The Role of Social Media in Building Customer Relationships
Regional Financial Stability – Implications of Sovereign Debt Restructuring (Panel Discussion)
Managing at the Speed of Change: Balancing Strategy and Execution
Emerging Cyber Global Threats and Tactics
The Changing Face of Consumer Banking – Exceeding Expectations and Managing Risk
Correspondent Banking Relationships – Challenges & Solutions
Collaboration
CAB is actively engaged in collaboration with partners such as:
CARICOM
COTA
EU
Commonwealth Secretariat
Central Banks
Governments
Caribbean-Central American Action
IMF, CARTAC
IFC, World Bank Group
Accounting Firms
Technology Providers
For more information please contact us at
(758)452-2877;
Or visit our website at http://cab-inc.com/
Thank You!