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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...

by The Publisher | Published 7 months ago
By The Publisher On Wednesday, January 12th, 2022
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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...

By The Publisher On Saturday, July 31st, 2021
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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...

By The Publisher On Thursday, May 13th, 2021
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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PHILIPSBURG — The ABN-AMRO bank has temporarily withdrawn its intention to terminate relationships with clients who live outside of the European Economic Area.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...

By The Publisher On Thursday, January 28th, 2021
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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...

By The Publisher On Monday, September 21st, 2020
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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...

By The Publisher On Monday, February 10th, 2020
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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...

By The Publisher On Sunday, January 19th, 2020
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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...

By The Publisher On Saturday, November 30th, 2019
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“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...

By The Publisher On Sunday, November 24th, 2019
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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...