“World Bank Group, now coming on the heels of the launch of their new office in Port of Spain today, is a positive step,” Governor Larry Howai.
PORT OF SPAIN, Trinidad – The Central Bank of Trinidad and Tobago, May 1, 2026, received a courtesy visit from Marcos Chiliatto, executive director for the Trinidad and Tobago Constituency at the World Bank Group (WBG), and Delvin Cox, advisor to the executive director. The visit was hosted by Governor Larry Howai at the Central Bank in Port of Spain. Deputy Governor, Dr Dorian Noel and senior manager, macroeconomics and payments, Alister Noel also participated in the discussions.
The agenda for the meeting focused on several strategic areas, including Islamic Banking, bank resolution frameworks, and payment systems oversight, all of which are central to the Central Bank’s ongoing work to strengthen and modernise Trinidad and Tobago’s financial sector.
In particular, the central bank looks to the WBG’s support in three key areas. Firstly, capacity building and training focused on the implications of Islamic banking for monetary policy, including the development of monetary policy tools aligned to Islamic banking principles.
Additionally, given the dynamic and growing fast payments industry, and in the context of the Draft Payment Systems and Services Bill that the bank currently has out for public consultation, the bank will benefit from the World Bank’s support in developing the framework for the introduction of a national fast payments system and the associated governance elements to assure successful implementation.
The discussion also explored bank resolution frameworks, with specific attention to the review of commercial bank recovery plans, including practical simulations to enhance preparedness of the financial sector in the event of a crisis.
The visit is a natural extension of the longstanding relationship between the two entities and provides a valuable platform to exchange perspectives on shared priorities and to reaffirm the WBG’s continued engagement with the central bank. Over the years, the central bank and the WBG have collaborated on several important initiatives. The governor noted that enduring partnerships of this nature are integral to the bank’s mandate.
“Our continued relationship with the World Bank Group, now coming on the heels of the launch of their new office in Port of Spain today, is a positive step. “Their presence will allow us to further leverage global expertise in the service of Trinidad and Tobago’s financial stability and development priorities,” said Governor Howai.
The central bank is actively advancing its strategic agenda through these partnerships, reinforcing institutional relationships, deepening technical cooperation, and reinforcing Trinidad and Tobago’s position as a thoughtful and engaged participant in the international financial community.
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