BVI FSC to Host Caribbean Group of Banking Supervisors 41st Annual Conference 2 - 4 May 2024

Press Release 7 of 2024

BVI FSC to Host Caribbean Group of Banking Supervisors 41st Annual Conference 2 - 4 May 2024

The BVI Financial Services Commission (the Commission) is set to host the 41st Annual Conference of the Caribbean Group of Banking Supervisors (CGBS) from 2^nd to 4^th May 2024 in the Virgin Islands under the central theme: 'Supervision - New Age, New Approach'.

The CGBS, established in 1983 under the auspices of the CARICOM Central Bank Governors, enhances and coordinates bank supervisory practices in the English-speaking Caribbean to align them with internationally accepted standards.

The annual Conference brings together participants from central banks and other banking supervisory agencies across the Caribbean.

Managing Director and Chief Executive Officer of the Commission, Mr. Kenneth Baker will deliver the feature address at the Conference. Mr Baker noted, "The Commission is pleased to host the 41st Annual Conference of the Caribbean Group of Banking Supervisors here in the Virgin Islands. The theme of this year's Conference (Supervision-New Age, New Approach) mirrors the Commission's commitment to modernisation, enhancing the robustness and sustainability of our financial services landscape, supporting the evolution of innovation in financial services, compliance with international banking standards, and improving regulatory cooperation in the region".

The Conference underscores the region's continued commitment to cross-border collaboration among banking supervisors and efforts to ensure that the Caribbean's banking system is consistent with international standards and practices. Strengthening and expansion of the region's banking systems continue to be critical as it recovers from a number of natural disasters that impacted fiscal states and regional debt levels. This, coupled with the uptake of digital intermediation in traditional financial services has set an immediate need for regional banking supervisors to ensure that their supervisory regimes are best positioned for resilience.

The two-day conference agenda will explore, inter alia, the following:

• Consumer Financial Protection
• Threats & Opportunities from Artificial Intelligence to Financial Services
• Payment Systems Development
• Cross-border Collaboration and Supervision of Financial Groups
• Emerging Risks and Trends to Enable Financial Stability
  

The Commission expects over 40 delegates to attend the Conference from territories and countries within the region including: Anguilla, Aruba, Bahamas, Barbados, Belize, Bermuda, Cayman Islands, Curacao, Grenada, Guyana, Jamaica, Nevis, Peru and Turks and Caicos Islands. Representatives from international groups like the International Monetary Fund are also expected to be in attendance.

About Us

The BVI Financial Services Commission is the autonomous regulatory authority responsible for the regulation, supervision, and inspection of all financial services in and from within the BVI.

Questions concerning this Press Release may be directed to:

EXTERNAL RELATIONS UNIT
BVI Financial Services Commission
18 Pasea Estate Road, Tortola VG1110
British Virgin Islands
Tel: (284) 494-4190
Email: [email protected]

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