Regulatory Alerts2021-09-07 | 29700Added · Updated
Central Bank of Trinidad and Tobago TFS Thematic Report: Banking Sector
The Central Bank of Trinidad and Tobago issued a thematic review of the eight commercial banks licensed under the Financial Institutions Act, 2008, following the country's removal from the Financial Action Task Force's Grey List. The report identifies deficiencies in the documentation of policies and procedures, specifically regarding Terrorism and Proliferation Financing risks in trade finance. The Central Bank requires the Boards of Directors and senior management of these banks to provide oversight of the TFS risk management framework and ensure effective risk mitigation.
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