Investors’ Confidence In Antigua And Barbuda Remains High

by Amanda Banks, Tax-News.com, London

15 August 2008

On Wednesday the 6th of August, Mr Lebrecht Hesse, chairman of the Financial Services Regulatory Commission, formally handed over a Class III licence to Aristdes Maza Tirado - Chairman and Edmund Jreige Kabchi Murgus - Deputy Chairman of CBA Bank and Trust Incorporation to conduct international banking and trust operations from the jurisdiction of Antigua and Barbuda.

This is the first IBC to be issued with a composite licence to operate both international banking and trust operations and brings to 18 the number of licenced international banks in Antigua and Barbuda.

Mr Tiradio was full of praise for the staff at the Financial Services Regulatory Commission who he said processed the application in a highly professional efficient and friendly manner.

Tiradio commented:

"My team is very proud to be the first IBC to be issued with a composite licence and we will ensure that we maintain the very high standards for which Antigua and Barbuda is known, We are looking forward to working closely with the staff at the FSRC."

Mr Hesse congratulated Mr. Tirado and his team and welcome them to the jurisdiction of Antigua and Barbuda. He encouraged the new company to work closely with Mr Paul A. Ashe the Supervisor of International Banks and Trusts Corporations along with his team of examiners as this will ensure the company's adherence to local laws and regulations.

Also on hand to welcome the new company was Mr Trevor Mathurin acting Administrator and CEO of the FSRC.

CBA bank and Trust Incorporated forms part of a fully diversified Venezuelan group of companies which includes Banco Caroni C. A., Banco Guayana C. A and Seguros Caroni C. A.

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