PHILIPSBURG--The Central Bank of Curaçao and St. Maarten (CBCS) has committed to establishing an institute for financial education, similar to the one it runs in Curaçao, on St. Maarten, according to Democratic Party (DP) leader Parliament Chairwoman Sarah Wescot-Williams.
The establishment of the institute stems from a proposal made by Wescot-Williams in her former capacity as Prime Minister of St. Maarten. She expressed happiness at a party press conference on Monday about the information she received from CBCS.
Having a full Central Bank branch in the country requires more than just a building, it needs trained manpower, she said. The institute will help “to educate our people to run the branch.”
The institute is to take the form of a foundation with board members possibly coming from the Central Bank, Government, the Bankers Association, and insurance sector.
She said the institute will cater to training and workshops for people already working in the banking industry as well as individuals who want to upgrade their knowledge. The training will be carried out in collaboration with the Dutch financial training institute and via University of St. Martin (USM).
