-Caribbean central bank calls for stronger regulation.
Global Banking News - 30 September 2013
Inaugurating a three-day workshop hosted by the Caribbean Regional Technical Assistance Centre (Cartac) in Port-of-Spain, Trinidad, central bank governor, Jwala Rambarran, has said that the banking system needs to be governed by stronger regulation and supervision.
Rambarran said, 'As we all know, safe and robust banks operating in a well regulated financial system play a key role in the economy and society. One of the main lessons of the recent global financial crisis is that banks must improve their ability to manage risk, so they do not inflict serious damage on the economy. This calls for a stronger risk management culture within banks. This calls for stronger regulation and supervision within central banks and other regulatory agencies.'
Cartac is one of eight International Monetary Fund (IMF) regional technical assistance centres (RTACs).
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