WILLEMSTAD - The Executive Board of the Central Bank of Curaçao and Sint Maarten (CBCS) expects the appointment of a new president to contribute to "a special strengthening of the Executive Board for the further professionalization of the institute."

That is what the top of the CBCS writes in response to a letter from the Dutch Minister of Finance Wopke Hoekstra to the House of Representatives in which he mentions 'increasing concerns about the functioning and the integrity' of the CBCS, reason why the minister has had the matter sorted how the supervisory role of De Nederlandsche Bank on bank branches in the Caribbean Netherlands can be strengthened.

In a response published today, the CBCS emphasizes that this criticism is not new. “The management shares the concerns of both the Minister and the DNB on certain points. After all, when the new management took office in November 2017, they found a situation where improvements had to be made to various elements in order to guarantee the integrity and credibility of the institute.”

The Central Bank then lists measures taken in the last 18 months "that should lead to the restoration of confidence in the CBCS as a supervisory institution." It is emphasized that this process needs time.