Tuesday, April 13, 2004

St. Lca: Offshore banking at Bank St. Lucia

The financial Services supervision Unit on March 30 th issued a license to Bank of St.Lucia to operate a new bank on the island.

The new company called Bank of St.Lucia International will operate as an offshore or private bank, providing services for only non residents. Mr. Robert Nostrum is the General Manager of Bank of St.Lucia.
According to Mr.Nostram many measures have been put in place to ensure that the island's reputation as an offshore center is left untarnished. He says the major strength of this new company is the power of its money laundering procedures. He says bank of St.Lucia International, has put many security measures in place in order to combat the problem of money laundering if and when it occurs.


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