Caribbean Association of Banks Inc.

(CAB)

The CAB (formerly Caribbean Association of Indigenous Banks) has been established since 1974.

: To be the focal point for networking and effective

advocacy, and the organization of choice for support and services for financial institutions in the Caribbean region.

Managed by a Board of Directors elected by the member organisations. Supported by a Secretariat of 4 staff members.

Our Mission: “To advance the interest of member institutions through advocacy, networking, provision of training and other solutions to strengthen the Caribbean financial services sector”.

Currently, the CAB represents 59 member institutions with an asset base in excess of US$31 Billion, as at December 2010.

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 19 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/ATF 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.

Exclusivity - Access to the “Member Only” database section of our website which contains a wide cross section of regulatory, compliance, and research information as well as bank specific statistics and other data.

E-newsletter - Up to date information on what’s happening in the industry and in each other’s institutions.

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.

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:AdvocacyHarmonization 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.

AML /CTFIn 2009, we launched the Caribbean Anti Money Laundering /Counter Terrorist Financing Principles & Associated Guidelines and it is currently being reviewed. 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.

 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 …..• Enterprise Wide Risk Management (Trinidad)

• Know Your Customers (St Lucia)• Managing Problem Loans (St Lucia)• Foreign Account Tax Compliance Act (Antigua)• AML & Counter Terrorism Financing (Antigua)• Advanced Credit Analysis (St Lucia)• Stress Testing (Trinidad)

 

NetworkingOur 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.

NetworkingSome of the topics covered at past conferences are: New Dimensions in Bank Risk Management Defining Leadership Amidst Uncertainties & a Changing

Financial Landscape Enhancing Operational Performance While Building

Confidence: The Case for Stress Testing Sustainable Growth & Survival of Small/Medium Size Banks:

Are Mergers & Acquisitions inevitable for the region? Corporate Governance: Is it a Board of Directors or

Management Issue? FATCA – One Year Closer, Impact of the U.S. Tax Law & How to

Mobilise For It.

CollaborationCAB is actively engaged in collaboration with partners such as:

CARICOM COTA

EU Commonwealth Secretariat

Central BanksGovernmentsIMF, CARTACAccounting FirmsTechnology Providers

We Have Strong Working Relationships with our Service Members:

Our Service Members cont’d:

And our Partners:

&

For more information please contact us at (758)452-22877;

cab@candw.lc

Or visit our website at http://cab-inc.com/

Thank You!

TV Coverage of FATCA Awareness Session – St Lucia , June 2012