The National Anti-Money Laundering Oversight Committee (NAMLOC) recently conducted a crucial Anti-Terrorism Training and Sensitization session aimed at deepening members’ understanding of the United Nations Security Council Resolutions and the Financial Action Task Force’s Recommendation #6. This recommendation mandates the identification and freezing of assets associated with terrorism and its financing. Juliana Alfred, Permanent Secretary in the Attorney General’s Chambers and Chair of NAMLOC, emphasized that this training is a critical step as Saint Lucia prepares for its Fifth Round Mutual Evaluation. She added that Recommendation #6 is one of seven areas for which Saint Lucia has requested re-rating, underscoring the government’s commitment to strengthening its compliance and effectiveness in counter-terrorism financing.
The Government of Saint Lucia, on Monday, 16th October 2024, presented the Insolvency Bill for debate in the House of Assembly. The Bill, which was introduced by Attorney General, Leslie Mondesir, was taken through all its stages at this sitting. Insolvency occurs when an individual or company can no longer meet their debt obligations. For a business, this means that its liabilities exceed the value of its assets and income. The Attorney General expounded on the merits of the bill.
Mathurin highlighted several significant enhancements in this census report, including the addition of an infographics section, improved disaggregation of tables, enhanced analytical analysis of key findings, and the inclusion of several CARICOM-recommended tables. He emphasized that the goal is to make the report available to the public as soon as possible.
“And if you are engaging and abusing it, the Trustee is best placed, because they have to monitor everything.”
Read MoreThe Department of Finance, through the Accountant General’s Department, has introduced a new and innovative Financial Management System to replace the 25-year-old Smartstream system.
Read MoreEarlier this month, a team from the World Bank visited the island to gain firsthand insights into the progress of the Caribbean Digital Transformation Project.
Read More“That’s why when we measure productivity we have to adjust for inflation. We have to discount the effect of inflation.”
Read MoreThe National Competitiveness and Productivity Council (NCPC) continues to engage stakeholders on the soon-to-be-enacted Insolvency Bill, which has had its first reading in the House of Assembly. Insolvency is a financial state where an individual or organization is unable to meet its debt obligations, often leading to legal proceedings such as bankruptcy, where the debtor seeks relief from some or all debt obligations.
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