Presentations - Inaugural Conference with Financial Institutions

BANKING CANNABIS: KEY RISK MANAGEMENT COMPONENTS THE BANKING OF MEDICAL CANNABIS BECAME LEGAL IN SVG WITH THE PASSING OF THE MEDICINAL CANNABIS INDUSTRY ACT (2018). IN THIS VEIN THE BANK DEVELOPED A POLICY ALIGNED WITH THE CONVENTIONS OF THE UN AND THE STIPULATIONS OF THE MEDICINAL CANNABIS INDUSTRY ACT (2018)

BOSVG MEDICINAL CANNABIS INDUSTRY POLICY

• LIST SPECIFIC FUNCTIONS THE BANK MUST PERFORM TO ON-BOARD, MONITOR AND MITIGATE RISKS WHEN DEALING WITH INDUSTRY PARTICIPANTS • FOLLOWS THE THREE LINES OF DEFENCE MODEL • LIST PROHIBITED AND RESTRICTED SERVICES • LISTS WHO IN THE INDUSTRY THE BANK WILL DO BUSINESS WITH • CLEARLY OUTLINES WHEN THE BANK WILL DERISK

BOSVG MEDICINAL CANNABIS INDUSTRY FRAMEWORK

• PROVIDES AN OPERATIONAL OVERVIEW OF HOW THE BANK WILL EXIST WITHIN THE MEDICAL CANNABIS SPACE • SPEAKS TO OUR INTERACTION WITH INDUSTRY MEMBERS, INTERNATIONAL AGENCIES & CORRESPONDENT BANKS • CLEARLY DEFINES THE ON-BOARDING PROCESS AND STATES AT WHAT LEVEL APPROVAL FOR TRANSACTIONS WILL BE DONE • IDENTIFIES THE RISK IN THE INDUSTRYAND HOW THE BANK PLANS TO MITIGATE THEM