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SABA | Credit institutions

Prudential supervision of credit institutions is aimed at promoting the stability, integrity, efficiency and safety of the financial system of the BES islands and safeguarding the interests of the deposit holders and other creditors. The Financial Markets (BES islands) Act provides De Nederlandsche Bank with the legal basis for supervising credit institutions, both onshore and offshore.

Pursuant to abovementioned BES islands Act, a banking license from De Nederlandsche Bank is required to operate as a credit institution in the BES islands. In order to be considered for such a license, the applicant must comply with certain requirements set by De Nederlandsche Bank, which are laid down in aforementioned BES islands Act. Furthermore, De Nederlandsche Bank monitors compliance by the credit institutions with regulations on the disclosure of information to the public.