HE Caribbean Association of Banks (CAB) has described the recent decision taken by the European Union (EU) to blacklist some Caribbean countries as unanticipated and unwarranted.

In a release yesterday, the regional entity which represents over 56 banks and financial institutions in the Caribbean said that the EU’s decision warrants clear and concise justification and brings to the forefront the challenge faced by many Caribbean islands wherein the goalpost seems to be continuously moving.

Wendy Delmar, chief executive officer (CEO) of the CAB, said that while the effective date of the amended blacklist is to take effect on October 1 — given the current COVID-19 climate — the timing of the report will possibly further exacerbate the significant challenges currently faced by the region’s banking and financial services industry.

http://www.jamaicaobserver.com/business-report-daily-biz/cab-regards-eu-s-decision-to-blacklist-as-unwarranted_195151