ISIS breeding ground view concerns correspondent banks

Bankers Association of Trinidad and Tobago (BATT) Vice President Nigel Baptiste.

said there is a considerable amount to be afraid of regarding the view of local banks by correspondent banks in the light of: anti-money laundering and countering terrorism financing; and “coming on the seemingly widespread international view of Trinidad and Tobago with respect to a breeding ground for ISIS fighters”; and the general failure to institute much needed improvements to other basic regulatory frameworks such as the Insurance Act, Gambling bill and amendments to the Financial Institutions Act.

In a New York Times article this week it was reported that US authorities are concerned that this country has become a breeding ground for extremists close to the United States.

It was also reported that terrorism was one of the issues discussed between Prime Minister Dr Keith Rowley and US President Donald Trump during a recent telephone call.

Baptiste also expressed concern about the delay in the passage of the Tax Information Exchange Act.

“Our backs are now up against the wall at a time when this matter is possibly the least concern of the general public.

But...contrary to what MX Prime asserts, if the economy falls down because of this issue, rest assured, the jamming will stop.”