The STAR Businessweek
It’s difficult to publish a Caribbean-focused business publication without making a reluctant tip of the proverbial hat to the outsized importance of the banking industry in shaping the economic affairs of the Caribbean—for better or for worse. Sure, most financial institutions in the Caribbean leave us with much to be desired when it comes to pretty much every basic tenant of customer service but, nevertheless, we’re better standing with them than against them. Regionally speaking, there are few industries in the Caribbean that have been as laggardly as banks have been in keeping pace with innovation, technology, and—in the case of banks specifically—their national obligations to pursue economic growth in parallel with their individual profits. However, we seem to have hit fever pitch as financial institutions around the region literally cannot afford to be laggards any longer. Echoing these sentiments and charting the path forward for banking in the Eastern Caribbean is Dr. Keith Mitchell, Prime Minister of Grenada and newly-assumed chairman of the Eastern Caribbean Central Bank’s Monetary Council, who recently sat down for an exclusive interview with The STAR Businessweek to discuss the Council’s agenda and the general economic climate of our region.
Not an interview to miss; beginning here on page 2. Once again, Citizenship By Investment Programmes are back in the headlines with the European Union deciding to reiterate its distaste for golden visa programmes in a report set to be published next month following concerns that citizenship schemes need to be more stringent if they are not to be used as conduits for looted money laundered through banks, property and other investments by dictatorships from African nations and elsewhere (reeks of imperialism but they have a point!). See the Financial Times reporting on page 3 in “EU states warned over billions banked through ‘golden visa’ schemes”.
What’s bad for EU-member citizenship schemes doesn’t necessarily have to mean doom and gloom for Caribbean-based immigrant investor schemes, now does it? STAR Businessweek correspondent Ed Kennedy poses this question in our lead story “A Shift for ‘Citizens of the World’ From Europe to the Caribbean?” starting on page 1.
It’s Nothing Personal. It’s Business.
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