Financial Sector Supervision

The Financial Sector Supervision Department maintains public confidence through effective supervisory and regulatory mechanism of banks, credit unions and financial institutions.

The Financial Sector Supervision Department ensures that banks, financial institutions and credit unions which are licensed under the Domestic Banks and Financial Institutions Act (DBFIA), the International Banking Act (IBA) and the Credit Unions Act (CUA) operate in a prudent manner.

The Financial Sector Supervision Department performs these core functions:

  • Processes applications for financial institutions, domestic and international bank licenses and registration of credit unions 
  • Examines, supervises and regulates domestic and international banks as well as financial institutions and credit unions 
  • Ensures a safe and sound financial system, thereby attracting investments and facilitating an expansion of the financial system 
  • Promotes and conducts anti-money laundering surveillance of financial institutions licensed under the DBFIA, IBA and CUA