CBCS Launches Deposit Guarantee Scheme for St. Maarten

The Central Bank of Curaçao and Sint Maarten (CBCS) has begun implementing a Deposit Guarantee System (DGS) for Sint Maarten following the publication of a national decree on August 14, 2026. The decree, registered as AB 2026, No. 2, formally establishes the legal framework for the system on the island. A Deposit Guarantee System is designed to protect bank customers by insuring their deposits up to a set limit in the event that a financial institution fails. This marks a significant step in strengthening consumer financial protections and banking stability in Sint Maarten. The CBCS oversees monetary policy and financial supervision for both Curaçao and Sint Maarten as a shared central bank within the Kingdom of the Netherlands. The implementation signals Sint Maarten's alignment with international banking safety standards that are common across developed financial systems. Residents with deposits at local banks stand to benefit from increased security and confidence in the island's financial sector.

The Sint Maarten Business Development Center Foundation (SEDC) has opened enrollment for its Business English Communication Course – Level 1 in Philipsburg, St. Maarten. The course is offered through the Advanced Education Program (PEA), an initiative under the Ministry of Tourism, Economic Affairs, Transport, and Telecommunications. The program is designed to help local professionals and entrepreneurs strengthen their English communication skills in a business context. This type of workforce development offering is particularly relevant in St. Maarten given its tourism-driven economy, where effective English communication is essential for business success. The SEDC's involvement underscores its ongoing mission to support economic growth and professional capacity building on the island. Interested participants are encouraged to register as enrollment is now open.

The Central Bank of Curaçao and Sint Maarten (CBCS) has officially said goodbye to its president, Richard Doornbosch, following farewell receptions held in both Curaçao and Sint Maarten. Doornbosch served as president of the CBCS for six years and will officially step down on September 1st. His departure marks a significant leadership transition at the regional central bank, which oversees monetary policy and financial stability for both island territories. Doornbosch is set to join the Board of Directors of another authority following his tenure. Alongside his farewell, the CBCS simultaneously welcomed new members to its Board of Directors, signaling a broader leadership refresh at the institution. The dual-island ceremony underscored the CBCS's commitment to both Curaçao and Sint Maarten as equal stakeholders in the bank's governance.

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