opening remarks delivered by mrs. leila matroos - lasten executive director of the centrale bank van curacao en sint maarten on the occasion of the launching of the governance network of the dutch caribbean centrale bank van curacao en sint maarten august 31, 2022 excellencies, distinguished guests, ladies and gentlemen, good afternoon. i would like to start by expressing my gratitude to the themis institute for governance & leadership and nr governance for inviting the cbcs to provide the opening words for this special occasion. before i start with my dissertation, i would like to excuse mr. r. doornbosch, who for deeply personal reasons was unable to provide the opening words. it is with great pleasure that we took notice of the formal launching of the governance network dutch caribbean. not only is the establishment of this governance network relevant, but also necessary considering the many challenges that we as an international financial center are facing. the de - risking and peer assessments by global standard setting bodies, including the upcoming 2024 cfatf mutual evaluation, are noteworthy developments that we are currently facing. i would be remiss not underscoring the important role of good corporate governance in making our institutions and jurisdiction resilient to the burdens of proof of proper risk management and compliance. the objective of good corporate governance is to ensure ethical, effective, and prudent management. but also strong oversight by the governing body, to promote responsible corporate citizenship, to safeguard stakeholders ’ interest and to have a sound risk culture at all levels. the cbcs, as part of its supervisory mandate, evaluates the functioning of these corporate governance arrangements, which we have in fact identified as a key element of our new style of supervision. generally speaking, corporate governance arrangements determine the allocation of powers and responsibilities by which the business of a company are carried out. corporate governance involves structure on the one hand and people, behavior, and corporate culture on the other hand. the latter group not always being easy to assess and measure. yet, the cbcs as the supervisory authority must position itself to properly perform this duty. as you all may be aware, the cbcs has recently drafted a new code, the socalled corporate governance code financial institutions & service providers. this draft code has extensively been consulted with the private sector and all relevant stakeholders, and addresses all aspects of governance, from the way boards and senior management work and interact, to how the decisionmaking process shapes

be used by the supervised institutions to identify and report unusual transactions to the financial intelligence unit ( mot ). our commitment to deter and detect money laundering and terrorist financing amongst supervised institutions, has also been recognized and highlighted by the imf. in its final report issued in february 2004 on the former netherlands antilles, the imf concluded on page 7 of its report that : ( quote ) “ overall the legal and institutional framework for financial supervision meets high standards. it is comprehensive, effective, and to a great extent in line with international standards. the central bank ’ s staff is highly capable, well trained and dedicated, … ….. to perform its functions ” ( end quote ). nonetheless, the central bank realized the importance of not becoming complacent. the bank has continued to intensify its efforts by taking the necessary measures to further strengthen its supervisory regime by continuously upgrade the aml & cft requirements in line with international standards. you will certainly hear more about these efforts during your visit. bis central bankers ’ speeches to conclude, i would to say that significant progress has been made in our jurisdiction over the past years in the fight against money laundering and terrorist financing. it is therefore imperative for the market participants to continue to work closely with us and other competent authorities to combat money laundering and terrorist financing. the central bank is in that respect striving to constantly promote a compliance framework that ensures the soundness and stability of our financial sector and to promote an effective compliance environment that not only deter problems, but also detect problems at an early stage. we are committed to continue to promote an aml & cft regime that is dynamic and constantly adapting to international standards. we wish you all the best with your assessment and want you to know that our staff is available to provide you with any information you need concerning our activities and to answer any inquiry you may have. once again thank you for your support and your commitment to combating money laundering and terrorist financing in the caribbean region. bis central bankers ’ speeches