Central Bank Closes Offshore Bank

Created 24 Oct, 2006
Categories General Press Release
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In accordance with the provisions of Section 59 (1) (a) of the International Financial Services Act, 2002-5 (IFSA), the Central Bank of Barbados seized the management and control of Bancafe International Bank Ltd, effective October 23, 2006.   This action was necessary because of regulatory concerns about the financial condition of the entity.

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