The Central Bank Closes Offshore Bank

Created 19 Jul, 2005
Categories General Press Release
Views: 2609

In accordance with the provisions of Section 59 (1) (b) of the International Financial Services Act, 2002-5 (IFSA), the Central Bank of Barbados seized the management and control of the Olympus Bank and Trust SCC, effective July 19, 2005. This action by the Bank emanated from the failure of the licensee to comply with provisions of the Act.

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