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The Central Bank of Trinidad and Tobago (“Central Bank”/”CBTT”) has developed a Fintech Policy aimed at promoting an environment to accommodate ongoing financial innovations while mitigating risks. The Bank is aware of the possibilities that Fintech offers for improving the efficiency and security of financial transactions, as well as, financial inclusion. However, having regard to its mandate for monetary policy and financial stability, the Bank is also concerned about the risks these new financial innovations pose to the financial system.

The key tenets of the Policy includes:

Key Tenets of Policy

 

The Trinidad and Tobago Securities and Exchange Commission (“TTSEC”) has also developed a Fintech Policy which is “intended to guide the Commission’s approach to fulfilling its legislative mandate with regards to Financial Technology (“Fintech”) as well as form the basis for the Commission’s implementation of international best practice for the regulation and supervision of Fintech within the securities industry in Trinidad and Tobago.”


The Financial Intelligence Unit of Trinidad and Tobago (“the FIUTT”) acknowledges that the rapid growth of financial technology (Fintech) presents many opportunities for the development of the financial sector within Trinidad and Tobago. However, it also recognises that these new technologies can be misused for illicit purposes, including money laundering, the financing of terrorism and proliferation financing (ML/TF/PF). In fulfilment of its mission to effectively detect and deter ML/TF/PF, the FIUTT is committed to collaborating with the other Regulators (the Central Bank and the TTSEC) for the effective supervision of Fintechs and toward the common goal of maintaining a safe and stable financial, social and economic environment.


The Central Bank in collaboration with the TTSEC and the FIUTT has established a Joint Fintech Steering Committee to ensure effective collaboration among the domestic regulators on Fintech related matters that span all three regulators. Further, these Regulatory Authorities are collaborating on a Joint Innovation Hub and Regulatory Sandbox. Please see below links to access the Innovation Hub and Other Fintech related information. 

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Innovation Hub

Regulatory Sandbox (under development)

Fintech Entities (e.g. E-Money Issuers)

Legislation, Policies and Guidelines

Other Relevant Documents and Resources and Public Notices

Glossary of Terms

 

Regulatory Bodies

Central Bank of Trinidad and Tobago – CBTT

Financial Intelligence Unit of Trinidad and Tobago – FIUTT

Trinidad and Tobago Securities Exchange Commission – TTSEC
 

 

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Useful Links

Payment System Council – PSC

Financial Action Task Force – FATF

International Monetary Fund – IMF

International Organisation of Securities Commission

 

 

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