Canadian Banks waz going on Snoopy
CIBC is not only the Canadian bank with operations in a Caribbean financial haven. In fact, Canadian institutions dominate the region’s unsavory banking sector. In 2013 CIBC, RBC and Scotiabank accounted for more than 60 percent of regional banking assets. In 2008 The Economist reported Canadian banks controlled “the English-speaking Caribbean’s three largest banks, with $42 billion in assets, four times those commanded by its forty-odd remaining locally owned banks.” With their presence in the region dating to the 1830s, Canadian banks have been major players in the Caribbean since the late 1800s.
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Canadian Banks waz going on Snoopy
2017-05-21 21:17:15
2017-05-21 21:18:00
(Going back further, much of the capital used to establish the current incarnation of CIBC came from supplying the Caribbean slave colonies. The Halifax Banking Company was the first bank in Nova Scotia and the founding unit of today’s CIBC. The Halifax Banking Company’s leading shareholder and initial president, Enos Collins, was a ship owner, who made his wealth by bringing high-protein, salty Atlantic cod to the Caribbean to keep hundreds of thousands of “enslaved people working 16 hours a day.” He was also a privateer, licensed by the state to seize enemy boats during wartime, and according to a biography, likely captured and resold slaves in the region.)
2017-05-21 21:19:25
Ottawa shaped post-independence Caribbean banking regulations. Beginning in 1955, a former governor of the Bank of Canada and director of the Royal Bank of Canada, Graham Towers, along with a representative from the Ministry of Finance, helped write the Bank of Jamaica law of 1960 and that country’s Banking Law of 1960. These laws, which became the model for the rest of the newly independent English Caribbean, pleased Canadian banks.
Dang!!!!
2017-05-22 22:24:35
When is it canada's turn?
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