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Even exemplary Saba cannot escape a scolding of the Financial Supervision Board

The Executive Council of Saba has by far its business in order, the best of each of the governments in the Caribbean part of the Kingdom, but now also gets a real reproof from the Financial Supervision College.

The Cft responds relentlessly to the request of the island government to be allowed to hand in the implementation report for the first quarter a few weeks later. The Wet Financien openbare lichamen Bonaire. Sint Eustatius en Saba does not provide the option to grant deferment for legal deadlines.

“On the basis of the FinBES Act, the first implementation report should have been submitted by April 3, at the latest”, Cft Chairman Raymond Gradus peppered in a letter to Governor Jonathan Johnson. “As the third and fourth implementation reports 2018 were also not submitted on time, Saba did not fulfill this legal obligation for three consecutive quarters. During the visit to Saba in June, the Cft wants to consult with you about the causes of these backlogs and hopes to find out what measures you have taken to ensure that from now on this reporting obligation is met in time. ”

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