• About Us
  • Contact
  • Privacy Policy
  • LIVE TV
Thursday, August 7, 2025
Unitedpac St Lucia News - Header Logo
  • St Lucia News
  • News
    • All
    • Agriculture
    • Caribbean News
    • Crime
    • Education
    • Justice
    • Local News
    • Obituary
    • Religion
    • Weather Alerts
    US reward for Nicolas Maduro arrest hits $50 million as he walks with Saint Lucia PM Philip J Pierre

    US reward for Nicolas Maduro arrest soars to record $50 million bounty

    Felix Chucky Leonce seated against a blue wall prior to Leslie Land shooting

    Leslie Land shooting victim identified as Felix Chucky Leonce

    Police cordon off crime scene in city center during Castries homicide investigation

    Castries homicide sparks major police response

    Teri Helenese in black inspires unity at Caribbean POSH Weekend keynote on women’s empowerment

    Teri Helenese inspires unity at Caribbean POSH Weekend

    Jennifer Matarangas King pictured, nominated as USVI Tourism Commissioner

    Jennifer Matarangas King tapped to lead USVI Tourism

    Philip J. Pierre and Ronald Phillip pictured amid SLP and the RSLPF cover-up controversy in Saint Lucia

    SLP and the RSLPF: Minerva Ward Slams Culture of Impunity

    Trending Tags

    • Government of Saint Lucia
    • Saint Lucia Crime News
    • Saint Lucia Agriculture News
  • World
  • Politics
  • Business
  • Entertainment
    • All
    • Saint Lucia Events
    • Sports
    • Video News
    Jason Holder hits the winning shot in thrilling West Indies T20 victory over Pakistan in Florida

    Jason Holder Heroics End West Indies T20 Losing Streak

    Hulk Hogan flexing in red Hulkamania shirt before crowd – Hulk Hogan dead at 71

    Hulk Hogan dead at 71 after suffering cardiac arrest

    Nadine J Joseph-Collins, who spoke out on the St Lucia calypso judging controversy

    St Lucia calypso judging controversy: Labour supporter speaks out

    Sherman Augustin stabbed to death during Carnival in Vigie, pictured in green FC football uniform

    Sherman Augustin stabbed to death in Vigie on Carnival Monday

    Mongstar hospitalized following Monchy shooting ahead of Saint Lucia Carnival Parade

    Mongstar hospitalized following Monchy shooting

    Stock image of police car with flashing lights and crime scene tape used to illustrate RSLPF Castries Operation amid gun violence crackdown.

    RSLPF Castries Operation Nets Illegal Guns Amid Crime Wave

    Trending Tags

    • Julien Alfred
    • West Indies Cricket
  • Lifestyle
    • All
    • Culture
    • Health
    • Travel
    United Airlines aircraft on the tarmac during operational disruptions caused by the United Airlines technical issue and FAA ground stop

    United Airlines technical issue causes major flight delays

    Jennifer Matarangas King pictured, nominated as USVI Tourism Commissioner

    Jennifer Matarangas King tapped to lead USVI Tourism

    Hand holding a Saint Lucia passport by airplane window, symbolizing St Lucia US visa overstay rate issue.

    St Lucia US visa overstay rate highlights deepening economic crisis

    A close-up of a US visa stamp inside a passport, illustrating the US visa bond pilot targeting B-1 and B-2 travelers.

    Costly US visa bond pilot hits B-1/B-2 travelers with $15K rule

    Saint Lucia passport and U.S. visa application form on American flag background, illustrating the end of the US visa interview waiver.

    St Lucia Pays the Price as US Visa Interview Waiver Ends Under Pierre

    Philip J Pierre Emancipation Day Speech delivered in front of the Office of the Prime Minister seal and Saint Lucia flag

    Philip J Pierre Emancipation Day Speech: An Embarrassment to the Nation

    Trending Tags

    • OKEU Hospital
    • Saint Lucia Health
  • Tech
  • Commentary
  • Press Releases
No Result
View All Result
  • St Lucia News
  • News
    • All
    • Agriculture
    • Caribbean News
    • Crime
    • Education
    • Justice
    • Local News
    • Obituary
    • Religion
    • Weather Alerts
    US reward for Nicolas Maduro arrest hits $50 million as he walks with Saint Lucia PM Philip J Pierre

    US reward for Nicolas Maduro arrest soars to record $50 million bounty

    Felix Chucky Leonce seated against a blue wall prior to Leslie Land shooting

    Leslie Land shooting victim identified as Felix Chucky Leonce

    Police cordon off crime scene in city center during Castries homicide investigation

    Castries homicide sparks major police response

    Teri Helenese in black inspires unity at Caribbean POSH Weekend keynote on women’s empowerment

    Teri Helenese inspires unity at Caribbean POSH Weekend

    Jennifer Matarangas King pictured, nominated as USVI Tourism Commissioner

    Jennifer Matarangas King tapped to lead USVI Tourism

    Philip J. Pierre and Ronald Phillip pictured amid SLP and the RSLPF cover-up controversy in Saint Lucia

    SLP and the RSLPF: Minerva Ward Slams Culture of Impunity

    Trending Tags

    • Government of Saint Lucia
    • Saint Lucia Crime News
    • Saint Lucia Agriculture News
  • World
  • Politics
  • Business
  • Entertainment
    • All
    • Saint Lucia Events
    • Sports
    • Video News
    Jason Holder hits the winning shot in thrilling West Indies T20 victory over Pakistan in Florida

    Jason Holder Heroics End West Indies T20 Losing Streak

    Hulk Hogan flexing in red Hulkamania shirt before crowd – Hulk Hogan dead at 71

    Hulk Hogan dead at 71 after suffering cardiac arrest

    Nadine J Joseph-Collins, who spoke out on the St Lucia calypso judging controversy

    St Lucia calypso judging controversy: Labour supporter speaks out

    Sherman Augustin stabbed to death during Carnival in Vigie, pictured in green FC football uniform

    Sherman Augustin stabbed to death in Vigie on Carnival Monday

    Mongstar hospitalized following Monchy shooting ahead of Saint Lucia Carnival Parade

    Mongstar hospitalized following Monchy shooting

    Stock image of police car with flashing lights and crime scene tape used to illustrate RSLPF Castries Operation amid gun violence crackdown.

    RSLPF Castries Operation Nets Illegal Guns Amid Crime Wave

    Trending Tags

    • Julien Alfred
    • West Indies Cricket
  • Lifestyle
    • All
    • Culture
    • Health
    • Travel
    United Airlines aircraft on the tarmac during operational disruptions caused by the United Airlines technical issue and FAA ground stop

    United Airlines technical issue causes major flight delays

    Jennifer Matarangas King pictured, nominated as USVI Tourism Commissioner

    Jennifer Matarangas King tapped to lead USVI Tourism

    Hand holding a Saint Lucia passport by airplane window, symbolizing St Lucia US visa overstay rate issue.

    St Lucia US visa overstay rate highlights deepening economic crisis

    A close-up of a US visa stamp inside a passport, illustrating the US visa bond pilot targeting B-1 and B-2 travelers.

    Costly US visa bond pilot hits B-1/B-2 travelers with $15K rule

    Saint Lucia passport and U.S. visa application form on American flag background, illustrating the end of the US visa interview waiver.

    St Lucia Pays the Price as US Visa Interview Waiver Ends Under Pierre

    Philip J Pierre Emancipation Day Speech delivered in front of the Office of the Prime Minister seal and Saint Lucia flag

    Philip J Pierre Emancipation Day Speech: An Embarrassment to the Nation

    Trending Tags

    • OKEU Hospital
    • Saint Lucia Health
  • Tech
  • Commentary
  • Press Releases
No Result
View All Result
Unitedpac St Lucia News - Mobile Logo
  • St Lucia News
  • News
  • World
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Tech
  • Commentary
  • Press Releases
  • LIVE TV
Home News Caribbean News

Caribbean Bank Crisis Deepens: CBI Programs and De-Risking Issues

Caribbean Bank Crisis: Navigating CBI Program Scrutiny and De-Risking Challenges

Unitedpac by Unitedpac
July 18, 2024 - Updated on November 18, 2024
in Caribbean News, Business
Reading Time: 4 mins read
183 2
A A
0
Front facade of the National Bank of Dominica building, illustrating the Caribbean bank crisis amid Citizenship by Investment program scrutiny and de-risking measures.
41
SHARES
411
VIEWS
Share Share Reddit

Table of Contents

  • 1. Caribbean Banking Sector in Turmoil Due to CBI Programs and De-Risking
  • 2. Impact of CBI Programs on Caribbean Banks
  • 3. De-Risking and Its Consequences
  • 4. Proposed Solutions and Technological Innovations
  • 5. Saint Lucia’s Banking Crisis Reflects Broader Regional Issues
  • 6. Caribbean Bank Crisis: A Call for Comprehensive Reform

Caribbean Bank Crisis: Addressing Financial Stability and De-Risking Challenges

01
of 06
Caribbean Banking Sector in Turmoil Due to CBI Programs and De-Risking

The Caribbean banking sector is facing significant challenges as Citizenship by Investment (CBI) programs come under increased scrutiny and de-risking measures take their toll. The fallout from the National Bank of Dominica’s crisis has shed light on the precarious state of correspondent banking relationships in the region, highlighting the need for stringent oversight and innovative solutions to maintain financial stability.

02
of 06
Impact of CBI Programs on Caribbean Banks

CBI programs, which allow foreign nationals to obtain citizenship in exchange for investments, have been a crucial source of revenue for many Caribbean nations. However, these programs have also attracted criticism and regulatory scrutiny due to concerns over money laundering and the potential for illicit activities. As a result, Caribbean banks are finding it increasingly difficult to maintain correspondent banking relationships with international financial institutions.

Dr. Thomson Fontaine, an economist and former International Monetary Fund (IMF) official, emphasizes the need for rigorous oversight of CBI programs to ensure transparency and mitigate risks. “The integrity of our banking system is paramount,” Fontaine asserts. “Without stringent measures, we risk further alienation from the global financial system.”

03
of 06
De-Risking and Its Consequences

De-risking, the process by which global banks terminate or restrict business relationships with certain regions or sectors to avoid regulatory risks, has severely impacted the Caribbean. This trend has led to a reduction in banking services, including the loss of correspondent banking relationships crucial for international trade and remittances.

Michel Williams, a financial analyst, points out the dire consequences of de-risking for Caribbean economies. “The reduction in correspondent banking relationships hampers international trade and affects remittances, which are vital for many families in the region,” Williams explains. “This creates a ripple effect, destabilizing local economies and increasing financial exclusion.”

04
of 06
Proposed Solutions and Technological Innovations

In response to these challenges, experts advocate for a multi-faceted approach to safeguard the Caribbean banking sector. Kenneth Rijock, a financial crime consultant, suggests leveraging technology to enhance transparency and compliance. “Implementing advanced technological solutions can help banks monitor transactions more effectively and ensure compliance with international standards,” Rijock advises.

Furthermore, regional collaboration and dialogue with international regulators are essential to address the issues arising from de-risking. By working together, Caribbean nations can present a united front to negotiate better terms with global financial institutions and safeguard their banking systems.

05
of 06
Saint Lucia’s Banking Crisis Reflects Broader Regional Issues

Similarly, the Bank of Saint Lucia is grappling with challenges related to the Saint Lucia Citizenship by Investment Program (CIP) and the involvement of the Philip J. Pierre administration. Allegations of corruption and mismanagement have surfaced, further complicating the banking sector’s stability. This situation mirrors the crisis in Dominica, underscoring the broader regional implications of poorly managed CBI programs and the urgent need for reform. For more details on the Saint Lucia crisis, visit SLP Corruption in Bank of Saint Lucia.

06
of 06
Caribbean Bank Crisis: A Call for Comprehensive Reform

The crisis facing Caribbean banks due to CBI programs and de-risking measures underscores the need for stringent oversight, technological innovation, and regional cooperation. As the region navigates these challenges, maintaining the integrity of the banking sector remains paramount to ensuring economic stability and growth.

A coordinated approach involving government agencies, financial institutions, and international partners is crucial to restore confidence in the Caribbean banking system. Implementing strict regulatory frameworks and adopting advanced technological tools can help detect and prevent illicit activities associated with CBI programs. Moreover, fostering transparency and accountability within these programs can mitigate the risks that lead to de-risking.

Regional governments must also engage in continuous dialogue with global regulatory bodies to address concerns and establish standards that align with international best practices. By doing so, Caribbean banks can demonstrate their commitment to maintaining robust and compliant financial systems, which is vital for securing and retaining correspondent banking relationships.

In addition to regulatory measures, the Caribbean must explore innovative financial solutions, such as digital currencies and fintech advancements, to enhance financial inclusion and resilience. These technologies can provide alternative means for international transactions, reducing dependency on traditional correspondent banking relationships and mitigating the impact of de-risking.

The Caribbean bank crisis, driven by the interplay of CBI programs and de-risking, serves as a stark reminder of the need for proactive and coordinated efforts to safeguard the region’s financial stability. With comprehensive reform, technological innovation, and regional cooperation, the Caribbean can navigate these challenges and build a more resilient and secure banking sector.

Tags: Bank Corruption CasesBanking sector turmoilCaribbean bank crisisCBI program issuesCorrespondent banking relationshipsDe-risking impact CaribbeanNational Bank of DominicaSaint Lucia CIP challenges

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT
Previous Post

Trump Rally Shooting Widow Refuses Biden’s Call, Sparking Intense Political Firestorm

Next Post

Controversial 2.5% Health and Security Levy in Saint Lucia Sparks Debate

Related Posts

Teri Helenese in black inspires unity at Caribbean POSH Weekend keynote on women’s empowerment

Teri Helenese inspires unity at Caribbean POSH Weekend

August 6, 2025
162
Jennifer Matarangas King pictured, nominated as USVI Tourism Commissioner

Jennifer Matarangas King tapped to lead USVI Tourism

August 6, 2025
174
Driver holding smartphone with Uber app open while steering a Volkswagen, used in article on Uber stock Q2 earnings and $20B buyback.

Uber stock Q2 earnings beat forecasts as $20B buyback unveiled

August 6, 2025
151
Jason Holder hits the winning shot in thrilling West Indies T20 victory over Pakistan in Florida

Jason Holder Heroics End West Indies T20 Losing Streak

August 4, 2025
162
Ralph Gonsalves addresses parliament as he denies 352 citizenship grants in rebuttal published by St Vincent Times

Gonsalves Denies 352 Citizenship Grants as Passport Scandal Deepens

July 29, 2025
293
Tommy Descartes presents his analysis on the St Lucia fuel pricing policy during a UWP press briefing

Tommy Descartes Slams St Lucia Fuel Pricing Policy as Anti-Consumer

July 27, 2025
328
Next Post
Allen Chastanet and Philip J Pierre with a tax exempt sign backdrop, highlighting the controversy over the Exemption of Health and Security Levy in Saint Lucia for a development in Rodney bay

Controversial 2.5% Health and Security Levy in Saint Lucia Sparks Debate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Stay Connected

  • 22.4k Fans
  • 873 Followers
  • 13.5k Subscribers
  • 2.6k Followers
  • 41 Followers
  • 2.3k Followers
ADVERTISEMENT

Top Stories

Felix Chucky Leonce seated against a blue wall prior to Leslie Land shooting

Leslie Land shooting victim identified as Felix Chucky Leonce

August 7, 2025
1.4k
United Airlines aircraft on the tarmac during operational disruptions caused by the United Airlines technical issue and FAA ground stop

United Airlines technical issue causes major flight delays

August 7, 2025
158
Police cordon off crime scene in city center during Castries homicide investigation

Castries homicide sparks major police response

August 7, 2025
938
Hand holding a Saint Lucia passport by airplane window, symbolizing St Lucia US visa overstay rate issue.

St Lucia US visa overstay rate highlights deepening economic crisis

August 6, 2025
363
Unitedpac St. Lucia News logo

Unitedpac St Lucia News delivers trusted St Lucia news, breaking updates, and Caribbean stories for readers across the island, diaspora, and globe.

Follow Us

Browse by Category

  • Business
  • Commentary
  • Entertainment
    • Saint Lucia Events
    • Sports
    • Video News
  • Lifestyle
    • Culture
    • Health
    • Travel
  • News
    • Agriculture
    • Caribbean News
    • Crime
    • Education
    • Justice
    • Local News
    • Obituary
    • Religion
    • Weather Alerts
  • Politics
  • Press Releases
  • Tech
  • World

Recent News

US reward for Nicolas Maduro arrest hits $50 million as he walks with Saint Lucia PM Philip J Pierre

US reward for Nicolas Maduro arrest soars to record $50 million bounty

August 7, 2025
Felix Chucky Leonce seated against a blue wall prior to Leslie Land shooting

Leslie Land shooting victim identified as Felix Chucky Leonce

August 7, 2025
United Airlines aircraft on the tarmac during operational disruptions caused by the United Airlines technical issue and FAA ground stop

United Airlines technical issue causes major flight delays

August 7, 2025
  • About Us
  • Contact
  • Privacy Policy
  • LIVE TV

Copyright © 2025 Unitedpac St Lucia News - All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • St Lucia News
  • News
    • Agriculture
    • Local News
    • Justice
    • Crime
    • Caribbean News
    • Obituary
    • Religion
    • Weather Alerts
    • Education
  • World
  • Politics
  • Business
  • Entertainment
    • Sports
    • Saint Lucia Events
  • Lifestyle
    • Culture
    • Travel
    • Health
  • Tech
  • Commentary
  • Press Releases
  • LIVE TV

Copyright © 2025 Unitedpac St Lucia News - All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.