WILLEMSTAD, AMSTERDAM – The Central Bank of Curaçao and Sint Maarten (CBCS) has signed a collaboration agreement with the Nederlandsche Bank.

Through this collaboration, they aim to enhance their working relationship and elevate the status of the deposit insurance. CBCS announced this development on its Facebook page.

Furthermore, the collaboration is expected to bring stability to the financial sector of the monetary union and Caribbean Netherlands. A deposit insurance is a mechanism that insures deposits of account holders up to a certain amount in the event of a bank’s bankruptcy.

By entering into this agreement, CBCS seeks to establish an effective system of deposit guarantees. According to CBCS, this would contribute to building customers’ trust in the banking sector.

CBCS hopes that this agreement marks a significant step toward achieving economic stability in Curaçao.

Bron: Curacao Chronicle