The Eastern Caribbean Central Bank (ECCB) is hosting a Consultative and Legislative Drafting Workshop today at the Beachcombers Hotel, to address proposed amendments to the Banking Act 2015.

Following the ECCB’s engagements on the application and operationalization of the Banking Act 2015 with members of the Eastern Caribbean Currency Union (ECCU) banking industry, the Bank is proposing amendments to the Act to address certain areas of concern raised during those discussions.

In light of this, the ECCB has organized the Consultative and Legislative Drafting Workshop which is being chaired by ECCB Monetary Council member and Prime Minister of St. Vincent and the Grenadines, Dr. the Honourable Ralph Gonsalves.

The objectives of the workshop are to consult with stakeholders and forge consensus on the proposed amendments to the Banking Act 2015; conduct a technical review of the amendments and finalise the drafting of the amendments; and develop a targeted approach to the efficient enactment of the amendments.

Tuesday’s meeting is being attended by local and regional stakeholders.

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