Caribbean Association of Indigenous Banks, Inc (CAIB) is a community of locally incorporated/owned banks and other financial institutions in the Caribbean/CARICOM Region, which provides opportunities for discussion on issues impacting the indigenous banking/financial services community as well as for the sharing of experiences and networking.
From this common platform indigenous banks and financial institutions seek to influence regional financial services policies as well as other issues which have implications for the sector, such as the CARICOM Single Market and Economy (CSME), World Trade Organization (WTO), and the Free Trade Area of the Americas (FTAA). It also facilitates Caribbean/CARICOM indigenous banks' and financial institutions' intervention and participation in the global network of similar institutions.
The Association is guided by the four main pillars of its value propositions to its members, broken down:
The Association comprises fifty (48) Member Banks/Financial Institutions, three (3) Honorary Members, namely the Caribbean Development Bank, CARICOM and the Caribbean Centre for Money and Finance; and (7) seven Service Members. The total asset base of the members is in excess of US$18.5 billion.
Caribbean Association of Indigenous Banks Inc was formed in 1974 following a decision by the Eighth Meeting of the Heads of Government Conference in 1973 and the Inaugural Meeting of the Standing Committee of Ministers Responsible for Finance.
The main purposes of the Association are defined in the Core Objectives. The Association was formed in response to the recognized need for member territories to mitigate the risk of reliance on external providers and share in the ownership and development of a financial services industry with the capacity to satisfy the financial needs of the people of the Region, whilst at the same time meeting regional and international regulatory requirements and standards.
The CARICOM Secretariat provided sterling support, maintaining the records and lending stability and continuity in the absence of a CAIB Secretariat from the start until the organization established a permanent Secretariat in Georgetown, Guyana in 1998. The Secretariat was moved to Saint Lucia in 2002 and is staffed by four permanent employees including a Chief Executive Officer who is responsible for the day to day management of the Association.
Caribbean Association of Indigenous Banks Inc will be the focal point for networking and effective advocacy and the organization of choice for support and services for indigenous financial institutions in the region.
The Mission of Caribbean Association of Indigenous Banks Inc is to facilitate the growth and development of indigenous financial institutions in the region.
CAIB has developed its Balanced Scorecard to describe, execute and monitor our winning strategy which will assist us to achieve our vision. The Balanced Scorecard indicates the value proposition provided to our members and other customers and describes in detail how we will organize ourselves and execute our strategy to deliver on that value proposition broken down:
Our Strategy Map provides a detailed visual roadmap of how we execute and implement our value proposition. We deliver on our value proposition through an innovative, well led, well governed, well resourced and financially sustainable organization, guided by our core values.
To foster a spirit of goodwill and camaraderie among the Indigenous Banks and Financial Institutions of the region with a view to solving their common problems through understanding and co-operation.
To assist in and influence the development and improvement of the codes of conduct and standards of the Banking and Financial Services Industry in the Caribbean/CARICOM Region.
To provide a forum for the exchange of ideas and information on various aspects of operations in order to broaden the scope and knowledge of its officers.
To assist its members wherever possible in the areas of training, management, systems and processes, inspection or any other related areas of operations.
To collect and disseminate statistical, technical, economic and other information relating to banking and all its aspects.
To print and publish any magazines, newsletters, periodicals, books or leaflets that the Association may consider desirable for the promotion of its objects.
To foster an increasing awareness of the presence of its members at Governmental level and to seek assistance in promoting its objectives.
To do whatever is deemed necessary within the limits of its members' powers to develop and strengthen Indigenous Banks and Financial Institutions of the Caribbean Region/CARICOM Region.
To amalgamate with any companies, institutions, societies or associations having objects altogether or in part similar to those of this Association.
The Association is governed by the Board of Directors, which comprises the Chairman - (Republic Bank (Guyana) Ltd) Mr Michael Archibald, Vice Chairman - (First Global Bank Ltd) Mr Wayne Wray, Immediate Past Chairman - (The Bank of Nevis Limited) Mr Hanzel Manners - and six Board Members. Two members each are elected from the North Western Caribbean, the Eastern Caribbean and the Southern Caribbean and there are three co-opted members. The Board of Directors serves for a period of two years.
The Board of Directors meet four times a year in regular sessions, and is currently supported by the following sub-committees.
An Annual General Meeting is held in a different member state, just before the Annual Conference, during the second or third week in November each year.
At the 37thAnnual General Meeting and Conference a new Board of Directors was selected for the period November 2010 to 2012. The Board of Directors, their contact information and responsibilties are in the attached file.
Services/ Solutions/ Resources
CAIB Web Portal with 'Members Only Online Access'to knowledge, statistical information, and key links to Caribbean/CARICOM Affiliates and the wider global financial community, all tailored to the financial services industry.
Advertising on CAIB's Web Portal, thereby reaching target audiences across the imminent CSME, FTAA markets. Benefits of advertising through this interactive online forum are as follows:
Communicate and market your products/ services to the 18 CAIB member states, across the Caribbean/ CARICOM region in a "live" environment;
Achieve a substantially broader reach than via traditional print advertising methods;
Achieve global exposure for your company/ product/ service;
Become affiliated with the Caribbean's foremost online representative and electronic presence for financial services and Caribbean regional information.
Annual Conference, hosted in a different country within the Caribbean/CARICOM Region in the fourth quarter of each year, primarily with the assistance of a cadre of distinguished sponsors. Members enjoy significantly reduced registration fees. The Conference provides the ideal forum for Caribbean Banks and Financial Institutions faced with daunting challenges: the rapidly changing marketplace, competition from unlikely sources, lack of resources, tough economic circumstances, rapid technological developments and an uncertain return on investment to gain first-hand experience and share best practices and lots of practical ideas from:
seasoned bankers who are succeeding in today's marketplace
dynamic speakers who are industry expert
Annual Magazine, Caribbean Account, published in the fourth quarter of the year, the magazine provides comprehensive insights into the many issues, both regional and global, facing banks/financial institutions in today's ever changing marketplace. It also features successes and challenges of members across the region and will prove to be a valuable tool to all your staff, valued customers and business partners. The magazine is offered to member s at an attractive reduced price.
Advertising in Caribbean Account, one of the most competitive advertising mediums that reach a target audience across the Caribbean/CARICOM region.
Newsletters, published monthly, members have an open invitation to make literary contributions, use it for educational/research material for your staff and advertise services or job vacancies etc.
Training usually conducted in partnership with our carefully selected Strategic Business Partners
Database of key ratios and statistics compiled from our members' Balance Sheets and Financial Statements, readily available through easy web access.
Networking, by far one of the greatest benefits in terms of building solid business contacts, that along with the camaraderie and friendships that are always being fostered, will make membership in this Association worth your while. The Annual Conference has over the years afforded members an ideal environment to initiate Business Development contacts, many of which have blossomed into successful business endeavours.
Staff Exchanges between members, within and between countries with a view to broadening staff knowledge and experience.
Through sponsorship and exhibit opportunities, the Conference represents your best opportunity to network with financial services professionals from throughout the Caribbean. Whether you choose to sponsor an event, highlight your products and services at an exhibit, or both, you will be taking advantage of a tailor-made opportunity to provide you with access to decision makers and quality leads. Whether you want to strengthen relationships with existing customers or build new ones, this conference is for you!
For further information on our conference, please view our conference page.
