Draft banking law contains debatable provisions
PHILIPSBURG — The draft bank account law that Member of Parliament Rolando Brison (UP) sent to the media this week contains a couple of interesting but debatable provisions. The apparent objective of the draft is to improve the banking sector’s customer service. The draft opens with a reference to a European Union guideline that gives European More...
Update on the right to a bank account
Dear editor, It should have surprised absolutely no-one in the Sint Maarten business community that businesses now must place ads in a newspaper to get a bank’s attention, as happened in the January 6th edition More...
Central Bank-report details pandemic’s economic damage
PHILIPSBURG — Stay-over arrivals dropped by 66.7 percent in 2020 and cruise arrivals fell 77.3 percent last year, the Central Bank of Curacao and St. Maarten (CBCS) states in its annual report. “Cruise More...
ABN-AMRO pacifies clients in St. Maarten
PHILIPSBURG — The ABN-AMRO bank has temporarily withdrawn its intention to terminate relationships with clients who live outside of the European Economic Area. The measure would have affected account holders More...
Financial Intelligence Unit’s powers are regulated by law
PHILIPSBURG — In the first quarter of 2025 St. Maarten will be evaluated by the Caribbean Financial Action Task Force (CFATF). “We should have started with the preparations last year but unfortunately we More...
Attorney warns against dire consequences of foreign exchange restrictions
PHILIPSBURG – “If this ship sinks we all sink together,” is the conclusion of an opinion HBN Law attorney Michelle Wever wrote about the potential consequences of measures the Central Bank of Aruba took back More...
Plan for deposit guarantee regulation: too little, too late
PHILIPSBURG – The Central Bank of Curacao and Sint Maarten (CBCS) has presented the governments of both countries with a draft national ordinance aimed to establish a deposit guarantee regulation. Such a measure More...
Bank Fees should be justified and approved by Parliament
The Sint Maarten Insurance Brokers Association is calling on the 15 newly elected members of parliament to go to work soonest and focus on some key issues relating to the financial sector. Besides our own experiences, More...
“Public statement is a blemish on the whole Kingdom”
PHILIPSBURG – The Caribbean Financial Action Task Force (CFATF) issued a public statement against St. Maarten during its fiftieth plenary meeting in Antigua last week. This is due to the country’s failure to More...
Central Bank counters complaints by Ennia’s supervisory board
PHILIPSBURG – The Central Bank of Curacao and St. Maarten (CBCS) is not happy with a letter Faroe Metry, president of the supervisory board of insurance company Ennia’s operating units, wrote. The Central Bank More...
