BOSL Confirms Stability Of Correspondent Banking Relationships

The Bank of Saint Lucia wishes to inform the public in particular its customers locally and overseas, that it has not lost, nor is it under any threat of the loss of its Correspondence Banking Relationships as a result of the Saint Lucia Citizen by Investment Program (CIP). Claims on social media that the Bank has lost a Canadian Correspondent Bank relationship as a result of the CIP program are baseless and untrue. The Bank’s ability to conduct international transactions in all currencies on behalf of its customers has in no way been interrupted. Moreover, none of our correspondent Banks have expressed concerns about our due diligence processes for wire transfers including those related to the Citizen by Investment Program (CIP). The Bank of Saint Lucia wishes to assure all its customers that it will continue to exercise the level of due diligence in keeping with local and international banking regulations and to play its part in ensuring that Saint Lucia remains a low – risk jurisdiction. SOURCE: Bank of Saint Lucia & The article BOSL Confirms Stability Of Correspondent Banking Relationships is from St. Lucia Times.