However, efficient coordination needs to be enhanced in order to be able to exploit the untapped potential of the relevant markets including back office roles and clearing and settlement procedures. What is needed also, is a more liquid pan-Caribbean market with lower transactions costs. Cross-border trading remains expensive, sometimes prohibitively so.
I am pleased to once again welcome you to South Africa, Cape Town for the 14th Basel Committee on Banking Supervision (BCBS) – Financial Stability Institute (FSI) high-level meeting for Africa on ‘Strengthening financial sector supervision and current regulatory priorities’.