stluciancpc

The National Competitiveness and Productivity Council (NCPC) moved another step closer to full implementation of the Security Interest in Movable Properties Bill which was passed in parliament in 2022. The establishment of a Collateral Registry of movable assets is vital for the full implementation of the legislation. Director of the NCPC, Lisa Florent-Montoute said the contract for the development of the collateral registry has been awarded to IOS Partners and a kick-start meeting was held in early February to discuss contract management among other matters.

The National Anti-Money Laundering Oversight Committee (NAMLOC) presented certificates of participation to stakeholders involved in reviewing the recent amendments to Saint Lucia’s Anti-Money Laundering, Terrorist, and Proliferation Financing legislation. These amendments are critical to Saint Lucia’s application for re-rating to be removed from enhanced follow-up. One piece of legislation which will impact several service providers is the Virtual Assets Business Act which was recently passed in December 2022. 

The Customs and Excise Department joins counterparts around the world in observance and World Customs Day on January 26th, 2023. The theme for this year’s observance is “Nurturing the next generation, promoting a culture of knowledge, sharing, and professional pride in customs.”  Senior Customs Officer, Sarah Arlette Marshall outlined the activities planned in observance of World Customs Day.

This panel discussion was organized by the National Anti-Money Laundering Oversight Committee (NAMLOC) to sensitize the general public on the work of this committee in combating money laundering, terrorist financing, and proliferation financing in Saint Lucia.

Money Laundering is a serious and growing issue globally. The United Nations Office on Drugs and Crime estimates that between 2% and 5 % of global GDP is laundered, this amounts to $800 million to $2 trillion annually. Juliana Alfred, Permanent Secretary in the Attorney General’s Chambers and Chair of the National Anti-Money Laundering Oversight Committee (NAMLOC) explained that NAMLOC, which is an inter-sectoral committee set up by the Cabinet of Ministers, is actively working to monitor and mitigate the risks posed to the various sectors within Saint Lucia by money laundering, terrorist and proliferation financing.

The Department of Finance via the Accountant General’s Office or Treasury Department has launched a long-awaited initiative dubbed, Micro Payments Convenient Cheque Collection. Accountant General, Matthew Branford said this initiative is set to directly impact the ease of doing business with the Treasury Department by decentralizing the collection of Cheques via its Sub-Offices in Soufriere and Vieux Fort.  

The Department of Economic Development recently presented Saint Lucia’s Medium Term Development Strategy (MTDS 2021-2026) at a United Nations organized meeting of Development Partners and the Government of Saint Lucia.  The MTDS is the output of extensive stakeholder consultations with the public and private sectors, NGOs, and Civil Society Organisations who interrogated Saint Lucia’s development issues and proposed solutions. Perle Alcindor in the Ag. Chief Economist with the Department of Economic Development.

“I bet to present for second reading a bill shortly entitled, Security Interest in Movable Property.” This was Prime Minister Hon. Phillip J. Pierre at the sitting of the House of Assembly on October 11^th 2022.

Energy Awareness – The Reduction Strategy Discussion around the new Electricity Bill, Indigenous Renewal Energy, Geothermal Energy, Impact on the Manufacturing sector and cost of living, etc.

Bankers provide digital financial information to vendors to improve their sales productivity.