The commercial banking sector in Trinidad and Tobago is just one of the many sources of stability in the country’s economy and society. There are eight long-established banks in T&T, backed by major international groups or the government, some of which have a substantial presence outside the country.
In 2008 the government established the Trinidad and Tobago International Financial Centre (TTIFC) as a specialist agency to promote the development of the country as an international financial centre. Previously, this work had been undertaken by InvesTT, which promotes inward foreign direct investment across the economy.
As indicated by the World Economic Forum’s “Global Competitiveness Report 2014-15”, Trinidad and Tobago has a number of attributes that are conducive to the development of financial services. Although the country was the 89th-most-competitive out of 144 assessed globally, T&T was ranked 38th for its macroeconomic environment, 52nd for infrastructure and financial...
In line with the expectations of the financial sector, the Central Bank of Trinidad and Tobago (CBTT) has continued tightening its monetary policy in 2015. In late May the CBTT’s Monetary Policy Committee (MPC) decided on a fifth consecutive increase in its repo rate of 25 basis points to 4%. The MPC’s decision was based on three factors. One was the recent forward...
The country’s stock exchange was established in October 1981 under the provisions of the Securities Industry Act. Since 1995 the Trinidad and Tobago Stock Exchange (TTSE) and its members have been regulated by the T&T Securities and Exchange Commission, in accordance with the Securities Industry Act. The 1995 act was eventually repealed at the end of 2012 and...
In global terms, Trinidad and Tobago ranks as a small, if well established, national market for insurance. General insurers wrote gross premiums of around TT$3.20bn ($494.1m) in 2013, while life and health insurers wrote gross premiums of about TT$3.4bn ($524.3m), according to figures published by the Association of T&T Insurance Companies (ATTIC), the industry trade...
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