(Trinidad Guardian) The Turks and Caicos Islands has appealed to Caribbean Community (Caricom) countries to continue to maintain a united position on the issue of de-risking and the loss of corresponding banking relationships (CBRs).
Premier Sharlene Cartwright-Robinson, who came to power in this Overseas British Territory last December, said that she is aware that the 15-member regional integration movement has been looking at the entire issue of de-risking.
“What we find in the Turks and Caicos Islands is an attempt to de-risk entire sectors and that is not the way to go. We are trying to, for example, assess our financial services sector, we are complying with the various standards…but yet the goal post is moving every time we comply with the last standard and everybody else is coming up with their own standard…,” she said.
“Apart from that, our concern is also that you are looking at the casino industry, a sector that is a threat for …de-risking the entire sector,” she said, warning it may result in the illegal movement of “suitcases of money”.