Monetary Council Recommends Financial Sector Enhancements
Basseterre, February 21, 2002 Members of the Monetary Council of the ECCB have put forward recommendations to improve the regulatory framework and develop the financial sector, in an effort to enhance the environment for growth and development in the Currency Union. At its last meeting in St Kitts, Council noted the need for an integrated regulatory framework in the ECCU. Its members agreed to recommend to governments the establishment of a regulatory unit within each Finance Ministry with primary responsibility for supervision of insurance companies, credit unions and money transfer institutions; the implementation of Council
