Regional regualtions needed

| 26/02/2009

(BBC): The Governor of the Barbados Central Bank has urged that a regional regulatory system for the financial sector be put in place. There are proposals for a Caricom-wide system but the draft legislation has effectively been stalled. According to Dr Marion Williams, while the intention is there, national approaches have taken precedence. “The pace of implementation has been challenged recently by ongoing efforts of individual jurisdictions to reform their own national framework,” she said. “Global and regional developments will not wait until we are ready.”

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