JIS News

Stakeholders in the Caribbean banking sector will gather in Jamaica for three days later this month, to identify best practices for addressing bank insolvency issues, when the Jamaica Deposit Insurance Corporation (JDIC) stages its inaugural Caribbean Bank Insolvency Conference.
Titled ‘Bank Insolvency in the Caribbean: Law and Best Practice,’ the conference is slated for the Rose Hall Resort and Spa in Montego Bay from March 24 to 26.
The three-day event is intended to discuss the mechanisms by which Caribbean central banks regulate depositories and initiate proceedings against insolvent institutions; the manner in which courts liquidate insolvent banks; and examine cross-border issues, which are likely to arise in the liquidation process.
It will also look at the role of regulators in early detection of and intervention in bank insolvency; and the role of deposit insurance in bank insolvency.
Providing details of the upcoming event at the Knutsford Court Hotel in Kingston yesterday (March 4), Chief Executive Officer (CEO) of the JDIC, Ms. Antoinette McKain, informed that more than 150 persons have been registered for the conference.
Targetted are professionals from Caribbean central banks and heads of other financial institutions and regulatory/supervisory agencies; general counsels and in-house attorneys of banks and other deposit taking and non-deposit financial institutions; accountants, auditors; and representatives from the ministries of finance and other organisations with an interest in bank insolvency.
Ms. McKain said that experts from Canada, the United Kingdom, the United States and countries in the region, will provide their perspectives on matters directly relevant to the current global financial crisis.
The conference is being held in association with the Caribbean Regional Technical Assistance Centre, which is an agency funded by multilaterals to help promote financial system stability in the region.

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