ENNIA rises from the ashes, but questions remain
PHILIPSBURG — The rescue plan for embattled insurance company ENNIA is underway. The Central Bank of Curacao and St. Maarten (CBCS) announced the launch of a new entity per January 1, 2025. The Central Bank describes it in a press release as “a solvent and independently functioning insurance group.” The new group consists of four companies More...
Follow-Up Steps in ENNIA Resolution
WILLEMSTAD/PHILIPSBURG – The Centrale Bank van Curaçao en Sint Maarten (CBCS), in close cooperation with the Governments of Curaçao and Sint Maarten and with the aim of safeguarding the interests of policyholders More...
Can the Government Guarantee ENNIA Pension Fund Recovery?
~ And what are the implications of moral hazard? ~ By Terrance Rey The question of whether the government can guarantee the recovery of the ENNIA pension fund is a critical one, especially for the policyholders More...
Caribbean guilder arrives in six months and cash remains king
PHILIPSBURG — About half a year from now the Antillean guilder will cease to exist and be replaced by the Caribbean guilder, the new common currency of the monetary union of Curacao and St. Maarten. The More...
Solution or no solution: what does it mean for the ENNIA policyholders in St. Maarten?
PHILIPSBURG — Finance Minister Marinka Gumbs made clear during a meeting of Parliament in June that the Outline Agreement as a solution for troubled insurance company ENNIA is not the best solution for St. More...
CBCS sounds the alarm over lack of parliamentary approval for ENNIA-solution
PHILIPSBURG — The Central Bank of Curacao and St. Maarten (CBCS) wants to finalize the restructuring of troubled insurance company ENNIA by December 1 of this year but it is unable to do so without approval More...
New Energy Loan Initiative: Empowering St. Maarten SMEs with Financial Solutions to Combat the Energy Crisis
Philipsburg, St. Maarten – In a proactive response to the ongoing energy crisis that has significantly impacted the business community, particularly micro, small, and medium-sized enterprises (MSMEs), Member More...
Cash at home? The tax inspectorate wants to know
THE HAGUE — The Dutch desire to regulate everything becomes once more apparent from rules that apply to the amount of money citizens are allowed to have at home. The situation in St. Maarten is a lot more More...
Bank says farewell with USD$25000 gift to marine project
Willemstad, Curaçao, July 15, 2024 – As CIBC Caribbean, trading as FirstCaribbean in the Dutch Caribbean, completed the transfer of its assets to Orco Bank N.V last month, the bank made a parting gift of USD$25000 More...
Central Bank says it has become pro-active after Girobank disaster
PHILIPSBURG — The Central Bank of Curacao and St. Maarten (CBCS) has learned some valuable lessons from the downfall of the Girobank and from the report Deloitte Netherlands produced about this situation. In More...
