ECCB 2025-2026 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2025 - 2026

Payments Modernisation and Financial Inclusion

the compliance programme and the importance of ongoing monitoring, data and technology towards adaptive risk management practices. One hundred (100) participants comprising of compliance professionals and national regulators attended. On 8 July 2025, as part of its financial inclusion public awareness campaign and in collaboration with the ECCU Ease of Account Working Group, the ECCB led a hybrid town hall meeting on the ECCU Ease of Opening Bank Account under the theme, “Accessibility for All”. This initiative aligns directly with the ECCB’s strategic goal to improve regional financial inclusion and the ease of doing business. The town hall provided context on the challenges facing ECCU citizens and raised awareness on the steps being taken by the ECCB and LFIs towards financial inclusion, through the introduction of the ECCU First Step Account. Most importantly, the town hall provided citizens with a platform to highlight some of the issues impacting them regarding the ease of opening accounts. The ECCU First Step Account seeks to enhance service delivery by simplifying onboarding procedures and making available products aimed at the unbanked and underserved in our region. These efforts contributed to increased awareness, improved institutional practices, and greater inclusivity within the financial system. Strengthening the Legal and Regulatory Framework Payment System and Services Act, 2025 The Bank supported Member Governments in the enactment of the Payment System and Services Bill and the Payment System and Services [Licensing] Regulations. The legislation will introduce a modular View Town Hall Meeting

Extensive stakeholder engagement underpinned the Strategy’s development, with contributions from national authorities, financial institutions, and international partners, including the United Nations Capital Development Fund (UNCDF), the World Bank, and Banque de France. This collaborative approach ensured alignment with international best practices while reflecting regional realities. The ECCB collaborated with Professor of Economics at Belmont University, Dr Colin Cannonier, to produce a financial inclusion index from data gathered during the ECCB’s financial literacy and inclusion survey. The joint study aimed to identify the primary determinants of financial inclusion in the region and, very importantly, to provide policy directions geared towards the establishment of policy frameworks designed to broaden financial access and financial participation in the ECCU. Among the main conclusions of the study is the influence of employment and education on financial inclusion. This key finding could be leveraged to improve financial empowerment across the region. The Bank continued to implement targeted initiatives to address barriers to financial access and usage. As part of its ongoing agenda towards improving financial inclusion across all sectors, the ECCB collaborated with the Association of Certified Anti-Money Laundering Specialists (ACAMS) to facilitate a two-part training session on the conduct of institutional ML/TF/PF risk assessments, towards the identification of ML/TF/ PF risks. The training was conducted over the period 2-3 June 2025 and highlighted the fundamentals necessary for the effective application of simplified measures. It also covered the ML/TF/PF lifecycle and its application within a risk-based framework, the integration of ML/TF/PF risk findings within

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