in management positions within the bank. at the bank, we provide our staff with opportunities to further develop their knowledge and skills. therefore, we offer our staff with the possibility of flexible working hours if employees are following a graduate development program. also, our staff has the opportunity to attend courses at international institutions such as the international monetary fund, the world bank, the us security and exchange commission, the federal reserve bank, the bank of international settlements, de nederlandse bank, the center for monetary studies for latin america and the caribbean ( cemla ) and other regional and international multilateral bodies. every year we sign a career plan with our staff that includes the courses and seminars they should attend during that year to advance to a higher level. because the balance between work and private life is important, the bank has a system of flexible working hours that allows employees to pursue their professional career consistent with their private life. ladies and gentlemen, as today ’ s audience comprises mainly professional women, i would like to conclude these remarks by sharing the following with you. in 2003, fortune magazine conducted interviews with women in top positions in business, academia, and government in the united states. several of the interviewed women admitted that they had neither actively planned their career development nor sought promotion, and when they had been offered promotion, they had hesitated before accepting it. in some cases, they had even turned down promotion when they thought it would conflict with their quality of life. it should not be a surprise to you, however, if i tell that this behavior is not unique to the united states. here on the island as well, i have met many women demonstrating similar behavior. this constrain imposed by society on women, be it culturally or historically motivated, is not consistent with the progress we have made in terms of education and equality in other areas that concern our female citizens. it runs counter to their own self - interest and the interest of the society as a whole. we have argued that an increased female labor participation rate will increase per capita income, reduce poverty and promote long - term economic growth. in the era of an aging population, upward mobility of female workers through the career ladder will encourage increased participation of female workers and therefore broaden the economic base to sustain the social safety nets. i therefore would like to recommend that you all believe in your own potential, make your choices, plan your career path, and work on your career. remember that the only person who owes you anything is you. i would

fiu presentation to iba members opening speech delivered by mrs. l. matroos - lasten acting president centrale bank van curacao en sint maarten on the occasion of the information session on : aml / ctf within the international banking sector centrale bank van curacao en sint maarten december 12, 2018 ladies and gentlemen, good evening, i would like to express my gratitude to the association of international bankers ( iba ) for its initiative in organizing this important seminar titled aml / cft within the international banking sector. i am pleased to share my opening remarks with you. this year marks the 10 - year anniversary of the global financial crisis. if we learned anything from the crisis, it is that international cooperation and policy coordination is crucial to shape a sound, transparent, and attractive financial system. as the managing director of the international monetary fund ( imf ), christine lagarde, stated “ the time to fix the roof is when the sun is shining. ” that is to say, we should not wait for ( reputational ) storms to come our way to act agile. ladies and gentlemen, our financial sector is of integral importance to achieve sustainable economic growth. suffice to say is that, though its contribution has declined over the past 20 years, the international financial services sector remains a key economic pillar of curacao. the ifs sector generates about 6 % of foreign exchange earnings, provides labor intensive high - skilled employment to more than 1, 000 persons, and contributes approximately 6 % of gdp. in addition to these direct effects, the sector has indirect spillover effects across related industries, including the business, telecommunication, transportation, and hospitality sectors. amid the increased complexity of financial transactions, it has become imperative for financial intermediaries such as international banks, to keep re - inventing themselves through new and innovative products and services. simultaneously, the supervisory role of the central bank is to ensure proper controls to prevent systemic collapse and achieve market integrity. today, i would like to touch upon the history of the international financial services ( “ ifs ” ) sector, the main challenges this sector is facing, what we have achieved so far, and what our next steps are. ladies and gentlemen, first allow me to take you back to the history of the ifs sector. by mid - 1960s curacao had become a well - known international financial center for purposes of global tax planning. however, the prosperity of the