Bank of Saint Lucia AGM is New Bankers Association President

Bank of Saint Lucia's Assistant General Manager, Ms Joanna Charles, is the new President of the Saint Lucia Bankers Association effective February 2011. The Saint Lucia Bankers Association's mandate is to represent the interests of the banking sector in various domestic and regional forums, and to educate the public on the sector and its related issues.

In her capacity as President of the Saint Lucia Bankers Association, Ms Charles hopes to generate greater public awareness of the association and the role of banks in the economy and their benefits to the wider society. She also indicated that during her tenure, the association would like to work more closely with the Attorney General's office regarding legislative changes that affect the banking sector.

As President of the Bankers Association, Ms Charles will represent the Association on the Eastern Caribbean Bankers Association. The immediate past president of the Saint Lucia Bankers Association was Mrs. Mauricia Thomas-Francis, Country Manager of First Caribbean International Bank. Recently, the Saint Lucia Bankers Association expanded its membership to include non-banking financial institutions such as Financial Investment and consultancy services (FICS), St. Lucia Development Bank (SLDB) and First Citizens Investment services (formerly CMMB).

ECFH Sponsors Major Financial Security Conference   

East Caribbean Financial Holding Company (ECFH) gave vital support to an important international conference on Financial Cryptography and Data Security. As Bronze sponsors, ECFH was the sole local financial entity to contribute to the event that was held at the Bay Gardens Beach Resort from February 28th -March 4th. Hosted by the International Financial Cryptography Association, the conference attracted over 100 academics and experts in the field from around the world.  It is a major international forum for research, advanced development, education, exploration, and debate regarding information assurance, particularly for commerce.

Financial cryptography relates to the sophisticated processes of securing information for the benefit of commerce. Some of the topics presented and discussed included 'The Future of Banking Security and Financial Transactions for the 21st Century'; 'Might Financial Cryptography Kill Financial Innovation? , and 'A Lightweight and Low-Cost e-banking Solution against Untrusted Computers'. Representatives from ECFH's Marketing and Information Management and Technology Departments attended the conference. They reported that much was learned from such an expert gathering and they feel even more able to enhance the Group's data security systems and processes. 

This was the 15th International Conference to be hosted by the International Financial Cryptography Association.       

WAM-Your Investment Experts! 

Bank of Saint Lucia's Wealth and Asset Management Division, (WAM), offers superior investment products and sound investment advice to a wide range of clients. WAM aims to create wealth for customers by growing their assets in a safe and prudent manner. It also promotes wise financial planning through its suite of products including the Registered Retirement Investment Account (RRIA). 

The purpose of the RRIA is for individuals to save towards their retirement. This is a long-term investment which must be held for a minimum period of ten years and up to the minimum retirement age of 55. This account requires monthly contributions of an affordable amount as low as $100.00. RRIA accountholders also enjoy a tax benefit of up to $8,000.00 per year for their contributions. The RRIA can also serve as cash collateral to secure a loan. 

For more information on WAM's products and advisory services please call one of our investment professionals at 457-7206. Bank of Saint Lucia Wealth and Asset Management Division, guiding you in the right direction to greater financial rewards!

Look out for the next issue of In Touch, where we will take a closer look at another investment product.