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Caribbean Financial Network

Central Bank of Suriname

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Biz Phone
597 - 473741
Paramaribo
The Centrale Bank van Suriname (CBvS) opened its doors on the 1st of April 1957 and has ever since fulfilled an important role in the Surinamese economy. The CBvS is a unique financial institution and cannot be simply compared to the commercial banks. It functions as the monetary institution entrusted with the issuance into circulation of the Surinamese currency. The CBvS is also the custodian of the international reserves of the country and safeguards that sufficient gold and foreign currency reserves are available to meet Suriname’s external payment obligations. The CBvS sees to it that the stability of the domestic and external value of the Surinamese currency is safeguarded.

Central Bank of the Bahamas

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Biz Phone
242-302-2620
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Nassau, N.P
The Central Bank of The Bahamas was established on 1st June 1974, to carry out the independent monetary policy and financial sector supervisory functions entrusted upon The Bahamas after political independence from Great Britain in 1973. Prior to the establishment of the Bank, there was the Currency Board set up in 1919 which was restricted mainly to issuing currency. The Currency Board era spanned the early evolution of The Bahamas' emergence as an international banking centre during the 1960s, and the corresponding challenges posed by the inadequacies of legislation to properly regulate and supervise these activities. Although some relief was provided by the Banks and Trust Companies Regulation Act (1965), which enjoined stringent licensing and operating requirements on banks, it was felt that a more substantive institutional authority was required to oversee the rapidly expanding banking sector. This need for an alternative institutional arrangement with statutory powers became even more apparent amid the turbulent developments in global financial markets, marked by the 1967 devaluation of the Pound Sterling, to which the local currency was linked. Based on the emerging strong trade linkages with the United States, the Government de-linked the Bahamian dollar (formerly the pound) from its peg with the Pound Sterling, and established the currency on par with the United States' dollar. This action, however, resulted in massive exchange rate losses for banks which, in the absence of alternative domestic investment opportunities, held most of their assets in sterling balances. These events led to the demise of the Currency Board, which gave way to the establishment of the Bahamas Monetary Authority (BMA) in 1968. The Authority assumed the aggregate foreign exchange risks of the country by redeeming domestic banks' surplus foreign currency balances for Bahamian dollars, instituted a voluntary system of reserve requirements for clearing banks, and began auctioning Government Treasury bills as an alternative domestic investment for financial institutions. Despite having an expanded role, including supervisory authority, a serious shortcoming of the BMA was the absence of the legal authority to employ active monetary policy measures. This fundamental weakness came into sharp focus during the late 1960s, when the Authority was unable to exercise control over domestic credit expansion in order to correct the worsening balance of payments position. A decade later in the 1970s, the deficiency was further heightened, when the global economy battled the worldwide recession, brought on by the OPEC oil crisis. These and other developments led to the eventual establishment of a Bahamian central bank.

Central Bank Of The Dominican Republic

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Biz Phone
809-221-9111
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The Central Bank of the Dominican Republic was created on October 9th, 1947, in accordance with Statutory Law No. 1529. It commenced operations on October 23rd of the same year, serving as a decentralized and independent organization. At present, it is governed by the Monetary and Financial Law. The Central Bank is ruled by the Monetary Board. Mission To guarantee the stability of prices, the appropriate regulation of the financial system and the suitable operation of the payment systems, acting as the issuer and executor of the monetary and exchange, in agreement with the duties conferred this institution by the constitution and the law.

Central Co-operative Credit Union Ltd

"Top Class Member services in Dominica"

Biz Phone
767-448-2261
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Goodwill
Our History Central Co-operative Credit Union Limited was registered as a newly formed credit union on July 2, 2007 on the amalgamation of the St. Alphonsus and Portsmouth credit unions. The amalgamation which grew from the strategic and long term planning of these two strong credit unions brought together the second and third largest credit unions on the island with combined assets of $59.4 million in assets.As a result of the amalgamation members of Central are able to enjoy convenience and access to funds from conveniently located branches in the capital and the second town. CCCUL is able to enjoy economies of scale and tremendous growth since the cost of operations is now measured against a larger asset base and a larger income. During its first three years of operations CCCUL experienced growth in the following areas: Membership – 10.9% Savings – 27.1% Assets – 20.2% Loan portfolio – grown 37.2%

Choiseul Co-operative Credit Union Ltd.

"We Make Lives Better"

Biz Phone
758-459 3119
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Choiseul
The idea of a Credit Union commenced in the year 1962 with Father Ludovic Chauvet who was the catholic parish priest of Choiseul at the time. The priest encouraged thrift amongst Catholics securing their funds for them so that they can use these funds in difficult times. Every Sunday after mass, persons would take their monies to the priest for safe keeping. The priest would keep records on the amount of funds belonging to each person. The priest then invited other persons from the Catholic Church to form a group to manage these funds. Most of those persons are deceased now but because of their initiative, there is a credit union in Choiseul today. The society began operating as an organization on 08th December, 1963 and was registered on 6th October, 1970.

CIBC Bahamas

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Nassau
CIBC FirstCaribbean's knowledge of banking has been gained through a combined experience of almost 250 years in the Caribbean through our heritage organisations, Barclays PLC and CIBC. Both have the distinction of being the oldest banks in the Caribbean. They were a part of the development of the region since the days of salt cod and rum. Many changes have been made since then. Tourism is the new export, and West Indian businesses are now taking on the world. FirstCaribbean will be there to make that goal possible. FirstCaribbean was formed in 2002 with the merger of CIBC West Indies Holdings and Barclays Bank PLC Caribbean operations. In December 2006, CIBC acquired Barclays stake and became the majority shareholder in FirstCaribbean. On June 20, 2011 we proudly announced that we will be co-branded under the CIBC banner, adopting the branding CIBC FirstCaribbean. The addition of CIBC to the FirstCaribbean brand emphasizes CIBC’s long-term commitment to the Caribbean region, our employees and our clients. Our clients and our employees across the Caribbean will continue to benefit from the long-term investment that CIBC is making in the Caribbean – a history that dates back to our first branches opened in 1920. CIBC FirstCaribbean will continue to operate as a Caribbean-managed business within the CIBC group of companies, and trades as FirstCaribbean International Bank Limited on the stock exchanges of Barbados and Trinidad.

Citizen Trust Bank

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Biz Phone
678-406-4000
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AtlantaGA
Citizens Trust Bank is extremely committed and continues to promote community economic growth and stability. We believe that taking care of our customers and the community through personalized engagement: we create a win for everyone. Our conscious contributions will continue to enhance our performance and enable our ability to remain a valued partner. Each year, several community organizations request sponsorship support in the form of events, including dinners, runs/walks, financial literacy/ empowerment and/or advertisements in programs. Although careful consideration is given to all requests, please be advised that our funds are limited, and we regret that we are unable to fulfill every request.

Citizens Bank

"It's Where You Belong"

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Biz Phone
592-226-1705
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Georgetown
Citizens Bank with its headquarters located at 231 -233 Camp Street and South Road, Georgetown, had assets of $US 241.8 million at September 30, 2018. Our one hundred and fifty-one (151) employees serve a customer base of more than fifty-two thousand, seven hundred (52,700). We provide retail and commercial banking services through our branch network of six (6) branches. They are 24-hour services through ATM’s which are located at each of our six branches as well as at five (5) off-site locations including a recent ATM addition at Amelia’s Ward in Linden. As we continue to growth and expand, we seek more avenues to improve services to the wider population.