On the policy front, another historical irony is that the script written for our development “The Industrialisation of the British West Indies” was rejected by us and applied by the East Asian countries, particularly, Singapore and Taiwan which are small island states with less natural resources than the combined Caribbean. Singapore is in fact the same size as St Lucia!
Smaller institutions in particular need to be informed about best practices in a more concrete and detailed manner. So, to facilitate the proportionate implementation of the guidance, the ECB published the Cyber Resilience Oversight Expectations, or CROE for short, in December 2018.