WILLEMSTAD – The Central Bank of Curaçao and Sint Maarten (CBCS) says two major geopolitical crises this year served as the first real test of its newly enhanced crisis management procedures.
According to the bank's 2025 Annual Report, the updated crisis protocol was activated following developments involving Venezuela in January and again after tensions escalated between the United States and Iran in March. In both cases, the bank analyzed the potential risks before determining that activation of its full Crisis Management Team was not necessary.
The report explains that the CBCS recently created a dedicated Risk Management Department headed by a Chief Risk Officer. The new department reports directly to the Executive Board and oversees enterprise-wide risk management, crisis preparedness and business continuity planning.
The bank has also introduced key risk indicators to monitor emerging threats and updated continuity plans for critical operations. Cybersecurity, cloud technology, artificial intelligence and operational resilience have become central priorities as the financial sector becomes increasingly digital.
According to the CBCS, strengthening crisis preparedness is essential as geopolitical uncertainty, climate-related risks and cyber threats continue to pose challenges for financial stability across the region.