News

Ms. Tracy Ebanks, CEO and Mr. Floyd Groves, Senior Manager - Admin, Operations, and IT attended the inaugural meeting of the US-Caribbean Banking Forum hosted at the IDB headquarters in Washington DC in conjunction with the Atlantic Council and CAB.

The agenda provided an opportunity for approximately 40 participants to explore the opportunities to address the de-risking and correspondent banking issues faced by the region’s banks.

The opening meeting was televised and started with a panel that was comprised of the IDB’s Robert Le Hunte, Partick Hu of the US Treasury, Baldath Ramkisoon and Wendy Delmar of CAB to discuss the opportunities of an aggregator model as well as an insurance facility which was offered by Mr Le Hunte. The idea proposed seeks to offer an insurance product which as he posited would offset the associated risk of doing business in the region. Mr. Hu mentioned that they acknowledge the progress made in the region and noted the accomplishment of the Cayman Islands for coming off the Grey List. 

Subsequent to this panel discussion, working tables were established with attendees to discuss the options and explore other opportunities. The IBD will collate the results from each table to determine what the next steps will be and to how to achieve same.

Ms. Ebanks not only represented the Cayman Islands but as a Director of CAB. Ms. Ebanks said “Several US state representatives stated that the Caribbean is considered a 3rd border for the United States and as such, It is critical that real solutions are in print to ensure the conversations are being acted upon.”