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If I wanted to establish a commercial bank in Trinidad, how would I proceed?
The requirements for the establishment of a commercial bank are set out at Part III of the Financial Institutions Act, 2008 (FIA), entitled “Licensing of Financial Institutions”. However, persons desirous of obtaining a licence to conduct either banking business or business of a financial nature should before submitting an application, first write to the Inspector of Financial Institutions at the Central Bank advising of that fact. This would enable the Central Bank to arrange a meeting with the applicant prior to the submission of formal application to discuss the nature of the business the applicant is seeking to engage in and also to advise what type of license, if any, should be applied for.