Antigua and Barbuda REAL ESTATE MORTGAGE LOANS BANKS
Antigua and Barbuda REAL ESTATE MORTGAGE LOANS BANKS
The sector of financial services in Antigua and Barbuda is rather insignificant and offers services in sphere of the international bank service, трастовые and insurance services, and also check in of the traditional international economic companies (МХК).
Regulation and the control of rendering of financial services are carried out by Administration on the international financial services, which has been created as the legal person according to the Law on the international financial companies (with the subsequent changes) 1998 Now the Administration is headed by four directors, and the chairman of Administration is General солиситор.
Administration main objectives are:
Constant regulation of sector of financial services, maintenance of protection of investors from swindle and malmanagement of their financial resources;
Counteraction to use of sector of financial services in money-laundering criminal intents;
Cooperation with regulating bodies of other states for the purpose of rendering of the help by it performed by the регуляторных functions;
Into Administration duties enter: realisation in practice of the Law on the international economic companies, including delivery of certificates on their check in, licensing of the companies on the right of realisation of the international bank activity, трастовой both insurance activity and regulation of activity of legal bodies all registered and licensed according to the above-stated Law. Also the Administration is obliged to recommend rules and the positions directed on perfection of introduction of the Law.
Offshore banks
The government of Antigua and Barbuda has carried out a number of initiatives and actions for appropriate regulation of offshore bank activity in practice. Concern of the international public in connection with money-laundering and other illegal financial activity has induced the government to reconsider and change the existing legislation in sphere of offshore bank activity. As a result, recently changes have been made to the Law on the international economic companies and the Law on money-laundering prevention. The government sets as the purpose maintenance of spotless reputation of the country in world financial circles.
Some positions of the legislation directed on maintenance of stable and safe business dealing by offshore banks to Antigua and Barbuda are more low specified: