It is important to note that in his Budget Statement of 2011, former Minister of Finance, the Honourable Winston Dookeran stated that the regulatory framework governing the Unit Trust Corporation is to be strengthened by, inter alia, placing the Corporation under the regulatory oversight of the Central Bank.
The state-owned National Insurance Board (NIB), which is responsible for the administration of the country’s National Insurance System, commands around one-tenth of the assets of the financial system. The last actuarial review of the National Insurance System revealed a substantial shortfall in accumulated assets at the end of June 2010, essentially due to lower than expected investment returns.