Caption: Governor Larry Howai and other staff from the Central Bank of Trinidad and Tobago alongside representatives from the Payments and Fintech sector
THE Central Bank of Trinidad and Tobago (CBTT) met with fintech and payments sector stakeholders on November 7 as part of its ongoing engagement with the financial industry, the bank stated in a release issued Thursday.
Governor Larry Howai underscored Trinidad and Tobago’s participation in the global wave of fintech innovation and said collaboration and knowledge sharing will be key to shaping both innovation and regulation.
“Our players in the payments landscape are vital contributors to the financial sector,” Governor Howai said.
He said, “The Central Bank is committed to creating an enabling environment and is poised to work with the industry to adopt new technologies in a safe and responsible manner, while leveraging fintech to strengthen our country’s economic resilience.”
The bank stated that discussions focused on the forthcoming Payment Systems and Services Bill, which is intended to unify payment regulation under a modernised framework.
The draft would introduce modular licensing for payment service providers, strengthen dispute resolution and interoperability, and align local standards with international best practices. The Central Bank also provided updates on its supervisory approaches and sector expectations, and highlighted the joint Regulatory Innovation Hub and Regulatory Sandbox that support safe testing and collaboration on new fintech solutions.
Deputy Governor Dr. Dorian Noel shared updates on the CARICOM Payments and Settlement System (CAPSS), while Carolyn Fifi, General Manager, New Business Development at the Trinidad and Tobago Unit Trust Corporation, presented on a proposed electronic Know Your Customer (e-KYC) project.
The session included members of the Central Bank’s management team and representatives from across the payments and fintech ecosystem. The Bank said its fintech and payments policies and strategies are available on its website: https://www.central-bank.org.tt/fintech-and-payments/.
