BRIDGETOWN, Barbados, CMC – The Central Financial institution of Barbados (CBB) is defending the choice of its Governor, Kevin Greenidge, relating to his position as an unbiased director on the Board of the African Export-Import Financial institution (Afreximbank).
The CBB mentioned that the Governor’s appointment to the Afreximbank board “totally complies with the Central Financial institution of Barbados Act, 2020-30, and poses no battle of curiosity together with his tasks as Governor”.
The Act states that the Governor could settle for exterior appointments with the approval of the Central Financial institution’s Board of Administrators.
“This appointment has acquired such approval, and importantly, the Governor receives no remuneration for his service on the Afreximbank Board. His work on the Board of the multilateral is professional bono.”
The CBB mentioned that Afreximbank is a multilateral monetary establishment that operates outdoors the regulatory jurisdiction of the Central Financial institution of Barbados, which regulates and supervises home monetary establishments in Barbados, not worldwide multilateral growth banks.
“The Financial institution views the Governor’s service on Afreximbank’s Board as a possibility to deepen Barbados’ worldwide monetary relationships and improve the Financial institution’s strategic perspective via world engagement.
“Furthermore, this appointment aligns with established worldwide apply, as evidenced by the participation of central financial institution governors from three different jurisdictions, in addition to a deputy and a sub-governor, additionally serving on the Afreximbank board,” the CBB added.
The groundbreaking ceremony for the Barbados Afreximbank Africa Commerce Centre (AATC) is scheduled for later Monday.
Afreximbank mentioned that the AATC is “an iconic and futuristic edifice” that was developed to bridge the commerce data hole in Africa and enhance intra-African commerce.
The AATC is a enterprise complicated that includes the Financial institution’s regional workplace, world-class convention amenities, a state-of-the-art tech and SME incubation hub, a Digital Commerce Gateway, a lodge, and a commerce and exhibition heart.
The constructing will even present workplace areas for Barbadian, Caribbean, African, and worldwide monetary and coverage organizations.
