pre - requisites and the mindset to take the driver ’ s seat in this area, we now need to start the engine of the new, and all hop in to new heights in the international service provision. in conclusion, curacao has traditionally been an attractive international financial services center, as we have always offered the advantages of compliance and optimal service. therefore, i am confident to state that curacao can look forward to a promising 2019 and beyond. the central bank, as the supervisor of the financial services industry, is open for business as we tailor our regulatory framework to become a 21st century regulator, while meeting international standards to protect the interests of the international clients of our financial services industry. together we should strive to continuously explore new opportunities and develop appealing products, and henceforth, we need to keep re - inventing our entrepreneurial creativity. a final note. i was pleasantly surprised when i saw the check mark ( √ ) and not the question mark (? ) in the title : “ curacao financial center : ready for 2019 and beyond.. ”. because i do share the sentiment that we are ready for the future and that together, we will be better beyond 2019. i thank you for your attention.

the current innovation revolution offers an opportunity for curacao to again take the pioneering lead in shaping the future of regional and global financial services provision. i cannot stress enough the importance of our need to become adaptable and agile to keep our markets efficient, fair, and attractive in an ever - evolving and innovative environment. today i want to touch upon the role of the central bank in promoting our jurisdictional readiness and embracing the new reality. the central bank is responsible for the supervision of the financial sector of curacao and sint maarten, and is not exempted of the responsibility of ensuring integrity, continuity, and resilience of our markets. in our aim to preserve and foster the reputation of curacao as a sound, transparent, and reputable financial center, whilst taking advantage of the changing landscape, we worked to achieve institutional agility and adaptability needed to usher our financial sector into this new era. while we believe that there is no substitute for good regulation, we are also aware that overregulation will impair the ability of our jurisdiction to maintain a competitive position as an international financial center. therefore, a proper balance must be reached between the adequacy and effectiveness of rules and regulations, and the underlying risks that our financial sector is exposed to. our efforts are directed towards complying with the international standards, but keenly taking advantage of the now presenting opportunities. we have successfully and positively been assessed by the major standard - setting bodies over the past years such as the oecd, the imf, the world bank, and the ( c ) fatf, and subsequently, implemented their recommendations. although complying with international standards and principles is a major achievement, we now need to turn our attention to capitalize on our enhanced transparency as a jurisdiction. the collusion of our transition to a new fiscal framework with the current innovation developments is just what we need as a jurisdiction. although the central bank is not a regulator for technology driven institutions, innovation is rapidly affecting and changing our regulatory landscape as well. financial technology or fintech is now driving the financial business narrative in a way that regulators are now scrambling to determine how to regulate highly technological institutions and technology driven products. the central bank has recently installed an innovation committee to explore the possibility to present curacao as the natural alternative for innovation - driven business. regulatory innovation is not only a theoretical concept, but rather a necessity that the central bank is determined to explore. curacao has all the