A number of international banks operating in Dominica have come together to form an association.
The Dominica International Banking Association (DIBA) was officially launched last Friday evening, encompassing six banks on the island: Barnett Capital Bank, Arton Bank, Bandenia Bank, Standard Commerce Bank, Zuma Bank, and Ibank.
At the launching ceremony, Venezuela-based President of DIBA, Carlos Colimodio, revealed that one of the association’s main objectives is to promote Dominica as a business centre and to attract investors.
“Another objective that we have envisioned is to promote Dominica as a business center. We, as banks, manage customers, many of them high net worth individuals that are seeking for business opportunities,” he said. “We are committed to promote Dominica when it makes sense for them (our customers), for us and for the people of Dominica.”
Colimodio noted that the materialization of these investments will “have a direct and positive impact in the economy of Dominica by increasing jobs, taxes and commercial activity.”
DIBA, he stated, will also help in supporting the financial authorities in strengthening Dominica in becoming a robust financial centre and jurisdiction in the Caribbean.
Colimodio commented that international banking, a largely profitable industry, is one in which Dominica can and should competitively engage.
“International banking constitutes a sizable portion of the international financial system. Experts believe that as much as half the world’s capital flow through international financial centers…,” he articulated. “International Banking is one of the few industries, along with tourism, in which Dominica can competitively engage. By offering a sound regulatory framework, Dominica can grow our industry.”
However, he remarked that in order for the endeavor to be successful, it must be marketed globally.
He also divulged that the association intends to integrate, not only more international banks, but entities from other financial sectors registered in the island, as well as local banks, and insurance companies, among others.
The ability to have access to correspondent banking services was named as the most important challenge faced by the association.
Good Afternoon,
Your comments are appreciated.
These are the names of each of the members of the Association. If you wish to contact these banks, they all have operating offices in Roseau and are authorized by FSU to operate legally on the island.
Names Website Telephone Numbers
Barnett Capital Bank http://www.barnettcapitalbank.com 440-8358
IBank Corporation http://www.i-bank.us 612-4227
Standard Commerce Bank http://www.standardcommercebank.com 285-5991
Arton Bank Corporation http://www.artoncapital.com 448-6518
BBP Bandenia Private Bank Inc http://www.bandeniabank.com
Zuma Bank Corporation http://www.zumbank.-com 449-8302
I discovered a web page with a list of the Offshore Banks in Dominica were I was able to obtain each banks telephone numbers, emails and even addresses. Happy to share the web page:
http://fsu.gov.dm/index.php/registered-entities/offshore-banks
Hope this info., helps
AP
I discovered in the Financial Services Unit web a list of Dominicas Offshore Banks were I was able to check each banks web page and obtain its contact information including telephone numbers, emails and addresses.
http://fsu.gov.dm/index.php/registered-entities/offshore-banks
Hope this information is useful.
AP
According to the Oxford dictionary a dignitary is “a person holding high rank or office”. Where are the dignitaries in the pictures?
Hmmmmmmmm……..I find it strange that other long standing and well known ‘foreign banks’ in Dominica have never over the years found it necessary or beneficial to form an association of this kind. Now we are hearing of banks with names unknown to us, all from foreign bases, forming such an association. Are these ‘OFFSHORE BANKS’? Interesting!!
The names of those Banks should be made public and Dominicans be alert and investigate before doing business with them. The National Bank and the Credit Unions always go local .
That Dominica is an international financial centre isn’t some sort of secret, and the names of banks that licensed to cater to foreigners are already public: http://fsu.gov.dm/index.php/registered-entities/offshore-banks
They tend to have high minimum deposit requirements, though, so don’t worry, it’s not like you’re going to do business with them by accident.
Would one describe Dominica as a Thriving Developed Economy?Yet here we have SIX INTERNATIONAL BANKS ,that are to say the least unknown names doing business in the islandThey must have been licensed by the GOVERNMENT.This not only smells of MONEY LAUNDERING it can be the ONLY reason.Not to much investment going on in Dominca.
Bottom line that’s exactly what it is. What other purpose could these outfits possibly have??
There are various tax minimisation approaches, both for individuals and corporations, that might take advantage of depositing money internationally. It’s extremely complicated, and depends a great deal on country of residence, country of citizenship, etc.
I mean, what do you think all the banks on Wall Street or in the City of London do all day? Why them and not us? Dominicans are crying out for economic development and real jobs, and that’s what having an international financial services industry means.
Okay I am a bit dotish. Can someone please tell me how will offshore banks (who should have no clients in Dominica) be in a position to attract investors. They plan to take over Discover Dominica and Invest Dominica Authority’s role?
How did this make news. These banks are not located in dominica. This banks are for crooks to hide money. Read about the panama papers you w illI’ll get an idea what these banks are about.
The revelations from the PANAMA PAPERS starting to bite them? So Dominicans foolish like that? How comes Dominica have so many of those banks , yet the economy is is in dire straits and poverty is increasing daily?
What are the businesses those banks are involved in?
Dominicans, note well what the President of that Association of foreign banks operating in Dominica told us, that it is a major challenge for them to be able to have access to corresponding banks. Remember the issue of access, to those international corresponding banks, came up as a result of the PANAMA PAPERS?
Those banks are under the radar of international anti-corruption agencies. MILLIONS upon MILLIONS of $$$$$$$$$ are hidden in such banks.
Imagine the Gov’t of Dominica is listed in the PANAMA PAPERS. Skerritt is so stubborn and scared that he will not divulge any information on those matters. Top secret. No transparency. Run, but you can’t hide. Banks galore, but Dominica poorer.
. i graduted with some of them people there. marie alice and sonia are two intelligent girls so do not get invoved in governement dirty work. isnt sonia felix even more highly qualified than most of them people there so she should have the post of fsu director. but the position of managing director and general manager is still good. continue to make the big bucks.
These just sound like offshore banks hidden under the umbrella of DIBA.
When most countries are moving away from these financial institutions because they many times link to laundering of money, Ponzi scheme and tax haven.
Dominica is brazen enough to take them in a whole hearted fashion not considering all the negative press our country is allege to be associated with as it relates to offshore accounts, passport selling to crooks and money launderers.
SMH
“DIBA, he stated, will also help in supporting the financial authorities in strengthening Dominica in becoming a robust financial centre and jurisdiction in the Caribbean.”
Oh really!!! WOW! So allu will make us into this super banking industry…yah
ay ay Benji is a banker?
Lmao. I was just asking myself the same thing wee
What? Man, Da news getting more interesting everytime I pull up DN Online. I’ve never heard of these banks. Do they only serve foreign institutional clients? Are they listed in the local phone book, ’cause I checked and none were. DNO, can we please get some more information on these banks, like whether they are specialized banks, wealth management funds, investment banks, or other? I cannot even get info for them over the internet. Why is it that we involve in everything shady? If they were transparent and straight dealing organizations, they would be in the light – internet presence, phone directories, instead of in the darkness – the financial shadows of the Dominican economy.
I would suggest that you listen to Politic tomorrow evening as Angelo educate the public because our Government will not we are going thru interesting times in Dominica .
I can’t say anything against banks based in D’a, good for the economy, after all the Swiss have been making fortunes on housing banks. Maduro, just give us Bird Island back, there may be fortunes to be made there some day.
Can locals do Business with these banks? And exactly where are they.
Okay, since I am a sleuth, I checked Barnett seems to exists on Wiltshire in Los Angeles, I called their number 213-892-9999 and was answered by a coda phone, so that one I might say perhaps exists.
Arton Bank I have not found on this planet as of yet. Bandenia is on paper, but cant find a location, of its origination.
Standard Bank now “open” Bank might be located somewhere in California perhaps Northern California, More research has to be conducted. As for Zuma Bank, that one seems to originate in some Dominica.
IBank seems to be in existent somewhere in Calif. nevertheless, the existing ones might be small struggling unknowns.
They are not house hold names in Los Angeles, I do not know if the one in Florida is popular.
Ya, …you are a sleuth. lol lol
These are all off-shore operations Francisco and we all know what that may entail. Could it be that because of this RBC is planning a tactical withdrawal so its name does not get besmirched?
I’m unsure why you’re looking in Los Angeles for Dominican banks but I don’t think you’re going to find them there.
Barnett Capital Bank is at the corner of Great George St and Marlborough. Arton Bank is at 36 Cork Street. Standard Commerce Bank is at 25 Victoria Street. Zuma Bank is at 42 Kennedy Avenue. Bandenia Bank is based in London and Madrid, and IBank is Chinese, so it may be that neither has a physical presence in Dominica, instead working through registered agents.
,” I called their number 213-892-9999 and was answered by a coda phone,”
Steve, when I decides to research these so called foreign banks, I had no intentions scrutinizing Los Angeles, however, while researching it all took me to California.
If you call that number in the quote above an answering machine will pick up and tell you to leave a message. I called that number between 10:00 A, M; and 11:00 A. M, when all banks in Southern California doors are open for business; only to get a response from a coda phone. Now we had a similar situation where someone went to Dominica told Skerrit government how he is a multi-billionaire, operating business all over the world.
Only to find the man was so broke in the final analysis Skerrit government had to pay for his hotel bills and all the lobsters (him namm in Dominica) eat. He gave Skerrit government a telephone number, and told them that was his number to his headquarters, when we called the number all we got as in this case was…
when we called the number all we got as in this case was a coda-phone; an answering machine.
I am sure there is a location of that phone number, because I have the address where it located on Wiltshire Blvd. walking distance from my house. As for all the rest all they have is a Website with no actual address or telephone number.
If they are involved in off-shore banking come out and say so, but the impression I get from what I read it is as if they are operating as a regular bank such Barclays, and other everyday banks.
Yay! for the google sleuth hahahah I think you are a great comedian but mostly an egolomanaic
That’s for Francisco
I do not respond to Ram Goats; donkeys, Monkeys, swine’s nor any beast of burden; especially (dem people who fool).
I do not entend to cast my pearls before swine’s!
Hahahahahahahahahahahahahah:
Somebody is a dog, an ah is doh is Francisco Etienne-Dodos Telemaque the King of Wesley who has not walked in any red clay mud in more than fifty years oui! No name no warrant; but, but, hog face better take a hike and if him/her can find boiled bread-nut you hungry animal with no name!
Hahahahahahahahahahahahhahahahah
Belle beff!!!
Way papa, they trying to replace Panama, I smell a rat my inner spirit tell me. This vision of my is very powerful. I am watching and listening.
Am … wait a minute … these … sound like …. am … offshore banks to … am me
DNO, where in Dominica are these banks located?
Barnett Capital Bank, Arton Bank, Bandenia Bank, Standard Commerce Bank, Zuma Bank, Ibank. Huh?
What next? Sperm Bank? River Bank?
DNO, could your investigative journalists find out and report to the public where these banks are physical located in Dominica. Tenks.
It is very strange all of them is in Dominica, a place where more than 80% of the population is unemployed. Mind you there are not enough people in the country opening accounts to deposit money in these six banks.
Besides banks do not make money on deposits unless they loan that money out to people, and operating entities, people in business, so to one should ask why Dominica with a population they claim has seventy thousand people?
Even if there were seventy thousand people in Dominica with Bank account each bank would need 11,667 people making deposits to keep their doors open.
In addition to that they would have to issue a certain amount of business, and personal loans monthly to simply survive. All we are reading here is nothing more than a bloody joke, something is wrong. They could not be depending on Dominicans to keep them in business!
Lord help Dominica.
Toute sa ke pa bon say pou Dominique.
Have never heard of these banks.
Smells fishy.
What about Skerrit bank. Not part of the association?