CBA: Despite heightened geopolitical risks the financial sector has remained highly solid

ORANJESTAD - Today, the Centrale Bank van Aruba (CBA) releases the 14th edition of its annual Financial Sector Supervision Report (FSSR), coinciding with its 40th anniversary.

As in previous years, the CBA’s Financial Sector Supervision Report offers detailed insights into the execution of its supervisory mandate. It also discusses the changes in the regulatory and supervisory landscape and provides an overview of the main developments within the Aruban financial sector.

As highlighted in the report, the financial sector remained financially sound and resilient. The buffers held by the supervised financial institutions are sufficiently high to absorb severe economic shocks. Nevertheless, the heightened geopolitical and operational risks require continued vigilance to safeguard the stability of the financial system.

The report also calls for swift action to prepare for the next mutual evaluation by the CFATF in 2030 of Aruba’s framework to prevent and combat money laundering, terrorist financing and the financing of weapons of mass destruction, in line with the applicable FATF standards. This includes strengthening and broadening current legislation and conducting a new comprehensive National Risk Assessment (NRA) to assess Aruba’s financial crime risks.

The CBA remains deeply committed to maintaining a sound, reputable and resilient financial sector conducive to economic growth.