The Finance Ministry in The Hague is looking into the possibility of improving the oversight on commercial banks in the Caribbean Netherlands.
The banks in the three overseas special bodies Bonaire, St. Eustatius and Saba (also known as BES islands) are all branches of banks established in Curacao, so in practice they are supervised by the Central Bank of Curacao and St. Maarten (CBCS). The Dutch Central Bank only monitors for integrity issues.
According to State Secretary of Home Affairs and Kingdom Relations Raymond Knops, “The Ministry of Finance is investigating how this can be arranged better.” He was answering questions by CDA-parliamentarian Joba van den Berg, who asked specifically about the situation in Statia.
“There is one bank, but it takes months to open an account. If your passport expires, they stop the account. “The Dutch Central Bank normally checks not only solidity, but also a bit of business operations. It would be nice if these practical problems can be solved,” she said.
The Daily Herald.