Saint Kitts: St. Kitts Revamps its Financial Services Sector
Last Updated: 16 January 2004

The Financial Services sector in St. Kitts is currently being re-assessed and evaluated, not by the FATF or OECD but by the service providers operating on the island. This exercise is being facilitated by the Marketing and Development Department in the Ministry of Finance. Comments and suggestions received by service providers and clients throughout the past year on legislation currently in force, issues that need to be addressed, improvements that need to be made to laws, regulations and policies have now been summarized and circulated to all the service providers for their review.

Meetings will now be held to discuss the feedback received on the summarized suggestions. The next stage would then be to implement the suggestions that meet with general approval by all the providers, the Marketing and Development Department and the Regulatory Division.

This exercise has already proven to be useful to the service providers on the island and ultimately to their clients that use St. Kitts to conduct their financial services business. Some of the suggestions that have been made, although simple, will go a long way in enhancing efficiency and the quality of the product that St. Kitts has to offer.

Shawna Brisbane, née Lake
Marketing and Development Department
Ministry of Finance
St. Kitts

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