CABINET NOTES: The Cabinet invited an investor to present his plans for the purchase of Government’s shares in the Caribbean Union Bank (CUB). The investor is of the view that he can attract more capital to CUB to modernize its operation while transforming the bank into a high-performing Caribbean bank.
The Investor believes that it will become primarily a technology bank with several correspondent banks in the capitals of several developed countries. The transfer of ownership will require the approval of the Eastern Caribbean Central Bank.
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