Eastern Caribbean Securities Regulatory Commission Confirms New Qualifications Regime With CISI To Enhance Professionalism Date
10/05/2021
The Eastern Caribbean Securities Regulatory Commission (ECSRC) and the Chartered Institute for Securities & Investment (CISI) have confirmed a new programme of qualifications aimed to enhance and promote professionalism and professional standards in the Eastern Caribbean Securities Market which operates across eight Eastern Caribbean countries.
ECSRC is the regional regulatory body for the Eastern Caribbean Securities Market, which includes Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St Christopher (St Kitts) and Nevis, Saint Lucia, Saint Vincent and the Grenadines.
The CISI is the not for profit, global membership body for those working in capital markets, wealth management and financial planning, with 45,000 members in over 100 countries. The ECSRC is responsible for issuing licences to prac
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IMF Executive Board Concludes 2021 Discussion on Common Policies of member Countries of Eastern Caribbean Currency Union
Washington, DC: On April 26, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the 2021 discussion on the common policies of the Eastern Caribbean Currency Union (ECCU) in the context of the Article IV consultations with member countries.
The fallout from the COVID-19 crisis is hitting ECCU economies hard. Tourism receipts (accounting for nearly 40 percent of GDP) have dried up, as tourist arrivals have come to a grinding halt. The authorities successfully contained the spread of the virus at the onset of the pandemic by largely closing the borders, but a reopening of the economies since the summer has led to a surge in COVID cases. The ECCU economy is projected to contract by 16 percent in 2020 and by a further near ½ percent in 2021. Fiscal positions have deteriorated sharply, and public debt is projected to reach
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This new digital currency is intended to address the high cost of current payment methods and banking services, failure of banking services to meet many customers’ needs, and inefficient methods of settling cheque transactions. ECCB hopes to see the use of physical cash fall by 50% by 2025. ADVERTISEMENT
DCash is available for a year-long pilot project in Antigua and Barbuda, Grenada, Saint Lucia and St Kitts and Nevis, which are four of the eight members of the Eastern
Caribbean Currency Union (ECCU). ECCB officials hope to have rolled out DCash in the four remaining countries ‑ Anguilla, Dominica, Montserrat and St Vincent and the Grenadines ‑ by September this year.
Members of the Eastern Caribbean Currency Union to include Antigua and Barbuda are being urged to proceed with caution when engaging in Bitcoin activities.
The Eastern Caribbean Central Bank (ECCB) has issued a release advising the public of the risks associated with Bitcoin particularly the establishing of Bitcoin Automated Teller Machines (ATMs) which have begun to be erected in several territories.
The release advises there is not yet any legal framework in place to completely regulate Bitcoin activities and until this happens, the public should proceed cautiously.
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