The members of the Bankers Association of Saint Lucia take this opportunity to advise customers and the general public of the introduction of a credit bureau in Saint Lucia for the collection, assessment and dissemination of credit information on current and potential borrowers. The credit bureau is expected to support more efficient, consistent, and responsible credit assessments.

A licensed credit bureau, EveryData ECCU Limited, has commenced operations in Saint Lucia. EveryData ECCU Limited is licensed by the Eastern Caribbean Central Bank and incorporated under the Companies Act of Saint Lucia. The bureau will support financial institutions in Saint Lucia and across the wider Eastern Caribbean by facilitating the responsible and efficient exchange of credit information.

Under the Credit Reporting Act, 2023, member financial institutions are authorised to obtain and share credit information through the licensed credit bureau. When assessing applications for credit, financial institutions may now reference relevant credit information available through the licensed credit bureau, as permitted under the Act.

This enhanced framework is intended to:

• Protect the integrity of the lending process by promoting responsible borrowing and lending;

• Reduce the risk of over-indebtedness;

• Improve efficiency in the processing of credit applications; and

• Reduce the cost of borrowing

All customer information will be handled securely and confidentially, in strict accordance with the Credit Reporting Act, 2023, and applicable data protection and confidentiality requirements.

The Bankers Association of Saint Lucia Inc. announces the appointment of a new President in the person of Mr. Ron Leon to manage its affairs until December 31st, 2027.

As Ron Leon of Republic Bank (EC) Limited takes the helm as the new President of the Bankers Association of Saint Lucia, he is supported by a cadre of banking professionals who form the Executive, including Vice President, Mr. Nigel Ollivierre – Country Head, CIBC Caribbean; Secretary, Ms. Nancy Joseph – Human Resource Manager, Saint Lucia Development Bank; Public Relations Officer, Mr. Baldwin Taylor – Consultant, 1st National Bank Limited; and Treasurer, Mr. Ainsworth Peter – Chief Executive Officer, St. Lucia Mortgage Finance Company Ltd.

Ron A. Leon is a senior banking official with over 16 years of experience across retail banking, credit, compliance, regulation, enterprise risk and corporate governance within the financial services sector. His career reflects a strong balance of strategic leadership, regulatory discipline, and operational execution.

Mr. Leon has held senior leadership responsibilities at Republic Bank (EC) Limited, providing oversight across seven (7) territories, namely Anguilla, Dominica, St Kitts & Nevis, St Lucia, St Vincent and the Grenadines, St Maarten and Grenada, in areas including branch operations, regulatory compliance, enterprise risk management, governance, and service excellence. In this capacity, he has led transformative initiatives that strengthened regulatory confidence, improved governance, and delivered tangible financial results.

A defining element of Mr. Leon’s professional profile is his ability to drive business growth while maintaining strong risk management and regulatory discipline. Early in his career, Mr. Leon built a strong foundation in credit risk management, lending operations, and customer engagement, consistently delivering high performance in loan origination, portfolio quality, and revenue contribution.

Mr. Leon holds a BSc in Banking and Finance (Compliance and Corporate Governance) from The University of the West Indies, is a Certified Anti-Money Laundering Specialist (CAMS), and a Certified Chartered Director (C. Dir).

He is an active contributor to regional banking collaboration, serving as a Member of the ECCU Bankers’ Association Risk Committee and Co-Chair of the ECCU Ease of Account Opening Working Group founded in collaboration with the Eastern Caribbean Central Bank, supporting initiatives that advance financial inclusion, risk management, and system efficiency.

Mr. Leon is widely respected for his strategic judgment, regulatory credibility, people-focused leadership and his customer-centric approach to banking and the wider financial services sector. With a wealth of experience in banking, compliance, corporate governance, and regulatory oversight, he steps into leadership at the Bankers Association of Saint Lucia poised to champion advocacy, elevate financial literacy and spearhead initiatives that strengthen collaboration, drive innovation and reinforce stability across the financial sector.

The Bankers Association of St. Lucia Inc. announces the appointment of a new President in the person of Ms. Kathleen Solomon to manage its affairs until December 31st, 2025. Ms Solomon replaces Mr. Samuel Agiste who previously represented 1st National Bank for their presidency term of January 2024 – December 2025.

As Ms. Kathleen Solomon of 1st National Bank St. Lucia Limited, takes the helm as the new President of the Bankers Association of Saint Lucia, she is supported by a cadre of banking professionals who form the Executive, including Vice President, Mrs. Gezella Claxton – Country Manager, Republic Bank (EC) Limited; Secretary, Ms. Joralee Preville – Corporate Secretary, Financial Investment and Consultancy Services (FICS) Limited; Public Relations Officer, Mrs. Monette Johny-Labanard – Senior Manager, Retail Banking, Bank of Saint Lucia Limited; and Treasurer, Ms. Leona Edward – Finance Manager, Sagicor Finance Inc.

Ms. Kathleen Solomon has over 30 years of experience in the Banking industry and currently serves as the Senior Manager, Retail Banking at 1st National Bank St. Lucia Limited. She is tasked with the responsibility of effectively managing the Retail Sales Portfolio and overseeing all the Retail branches in St Lucia, including the Bureau D’Change at GFL Airport. She therefore plays a critical role in contributing to the overall strategic objectives of the Bank with ongoing efforts to foster a renewed focus on excellent customer service.

Before joining 1st National Bank, Ms. Solomon was the Manager Retail Sales and Banking Operations at the Head Office of Republic Bank (EC) Limited providing support to the Sales and Operations teams in the 6 RBEC territories to ensure optimal performance, seamless operations with high levels of customer service and the right environment for customer engagement, along with increased in Sales. More than 2 decades of her Banking career was served at Scotiabank, where she supervised and managed several areas of the bank, both in Retail and the support area for Corporate Banking.

At Scotiabank, she was accorded the opportunity to successfully spearhead the centralization of the Corporate Support Units from the various territories to Trinidad, where she worked for approximately two and a half years. This involved aligning processes across various territories while maintaining excellent levels of customer service. This experience has broadened her scope and allowed her to gain a wealth of knowledge and experience both locally and regionally, which has equipped her to contribute significantly to the Banking field.

Ms. Kathleen Solomon is very passionate about excellent customer serve and equally, seeing people succeed, which augurs well for any organization. This then creates stronger financial institutions and can only equate to greater contributions in the Eastern Caribbean Currency Union (ECCU) where we operate. The continuous demand from customers for higher levels of customer service creates the need for ongoing innovations and a quick move to Digital Transformation to provide seamless processes, which is high priority. She understands that financial institutions are an essential part of every society as it supports economic growth and encourages young persons to make this exciting industry of banking a career choice.

Ms. Solomon currently holds a Bachelor’s degree in Business Management with a minor in Human Resource Management. She has acquired a wealth of knowledge and experience in Banking, coupled with her effective leadership skills and a passion to see people succeed.

The Interim Regulatory Commission (IRC) has published the draft legislation for the establishment of a regional regulator for Citizenship by Investment Programmes (CBI/CIP) – the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA).  The draft legislation is available on the ECCB website for public comment until 16 July 2025.

The completion and publication of the draft legislation is a significant milestone in the ongoing effort to strengthen the transparency, accountability and integrity of CBI/CIP.  Once operationalised, the ECCIRA will regulate and supervise the industry, through a uniform law and common standards.

The draft legislation was completed following a series of in-country consultations, which were led by the IRC, over the period March to April 2025. The consultations saw the IRC and the Legal Drafting Consultant, Ms Lydia Elliott, engage a broad and inclusive set of stakeholders – from Government, the CBI/CIP industry, international partners, the media and social partners.  The engagements provided critical feedback to guide the preparation of the draft legislation.

The IRC was appointed by the Heads of Government of the five countries with CBI/CIP Programmes, to oversee the establishment of a regional regulator.  The eight-member IRC comprises the following appointees:

1. Antigua and Barbuda – Lieutenant Colonel Edward Croft (Deputy Chair)

2. Commonwealth of Dominica – Ms Francine Baron

3. Grenada – Ms Julia Lawrence

4. Saint Christopher (St Kitts) and Nevis – Archdeacon Isaiah Phillip

5. Saint Lucia – Mr Evaristus Jn Marie

6. CARICOM Implementation Agency for Crime and Security (IMPACS)/Joint Regional Communications Centre (JRCC) – Mr Rufus Ferdinand

7. Organisation of Eastern Caribbean States (OECS) Commission – Mr Henith Gabriel

8. Eastern Caribbean Central Bank (ECCB) – Governor Timothy Antoine (Chair)

The IRC wishes to thank all persons who have contributed to shaping the legal framework and now invites all and sundry to provide feedback on the draft now offered for public comment.

Feedback should be submitted via the following channels:

Email: CBIRegulator@eccb-centralbank.org or WhatsApp: 1 (869) 662-3543.

Eastern Caribbean Citizenship by Investment Programmes Draft-Legislation

The Eastern Caribbean Central Bank (ECCB) has published a comprehensive policy document outlining key considerations for the development of data protection and privacy legislation in the Eastern Caribbean Currency Union (ECCU). This initiative reflects the ECCB’s commitment to fostering a secure and resilient digital environment that upholds the privacy rights of individuals while facilitating technological advancement and economic growth.

As data continues to be recognised as a critical national and business asset, the establishment of a robust data protection framework is essential to safeguarding personal information against emerging security threats. The policy document emphasises the necessity of harmonised legislation across ECCU member states to ensure compliance with international standards and best practices.

Key considerations outlined in the document include: –

• The establishment of a Data Protection Authority (DPA) within the region to oversee compliance, enforcement, and regulatory guidance.
• Data processing requirements that prioritise transparency, accountability and the implementation of privacy-by-design principles.
• The rights of data subjects including access to personal information, the right to rectification and data portability.
• The obligations of data controllers and processors in ensuring the lawful and secure handling of personal data.
• Enforcement mechanisms designed to be effective, proportionate and dissuasive against non-compliance.

The ECCB recognises that a harmonised approach to data protection is integral to fostering trust in the region’s digital economy and ensuring that legislative measures align with global regulatory frameworks. Stakeholders, including policymakers, businesses, and the general public, are encouraged to review the policy document and contribute to future ongoing discussions on strengthening data protection within the ECCU.

Click here to view the full document.

On this episode of ECCB Connects, Deputy Director, Financial Sector Supervision Department – Livia Bertin-Mark, outlines the features and benefits of a basic bank account. Individuals wishing to open a Basic Bank Account are required to present only one valid piece of photo ID. This account does not attract any maintenance fees; is not subject to a minimum balance; and it accrues interest.

The Eastern Caribbean Central Bank has encouraged all licensed financial institutions governed under the Banking Act of 2015 to make basic bank accounts available to their customers, effective 1 December 2024.

Financial Information Month took place in October, with a theme for 2024 of “Financial Investing, from Saving to Investing”, and was commemorated by a Financial Information Fair, held in Constitution Park, Castries, on October 15th.

To view a video of the event, please click here: https://fb.watch/vWMk14MWNk/