Along with other members of the Organization of the Eastern Caribbean State, (OECS) Prime Minister Hon Roosevelt Skerrit has revealed that Dominica will be establishing a uniformed legislation for the Citizenship by Investment Programme (CBIP).
The decisions was taken during the fourth meeting of the OECS assembly held in Antigua last week.
On the heels of the meeting, the Prime Minister further disclosed that an oversight committee will also be established with the purpose of reinforcing the programme as well as ensuring that persons who undertake the Anti-Money Laundering (AML) and Countering Financial of Terrorism (CFT) training are certified.
“In respect to the CBI, in addition to agreeing on moving with uniformed legislation, uniformed application forms and the setting up of the oversight committee, which would assist in auditing of our programme, reviewing our programme from time to time and making recommendations on how we should continue to strengthen our programme, we have also taken a decision to not only to continue to provide ALM, CFT training for our staff at the various units, but to get all of the staff within those units to be ALM certified,” he stated.
The Minister of Finance highlighted that this is specifically essential “because it is an important component of good governance, especially within the financial transaction and so we will be taking the exposure of the unit to ALM and CFT training to being certified and that will start almost immediately.”
Pinpointing the benefits, he made known that such initiative will strengthen the unit and also in large measure dispel a lot of the misplaced criticism of the programme in the region, which he says “have been very robust in our approach and the way we conduct the affairs in these units and the respect that we have for the due diligence processes which we all have heavily entrenched in our programme.”