The Eastern Caribbean Central Bank (ECCB) has been promoting good governance practices in the member countries of the Organisation of Eastern Caribbean States (OECS) and the wider Caribbean Community (CARICOM) for some time. The Bank, in collaboration with other regional and international stakeholders, has been involved in a number of initiatives. These include the establishment of the Caribbean Corporate Governance Forum (CCGF) and its Technical Working Group to facilitate discussions on, and explore ways of enhancing corporate governance practices in the Caribbean region. The Bank has also hosted seminars and training sessions on governance issues for Management and Directors of Boards of private and public sector institutions.
The Bank is aware that, as the central bank for the member governments of the Eastern Caribbean Currency Union (ECCU) and by extension the people of the region, there is an even greater call for accountability as the countries move towards the creation of an OECS Economic Union. Like most central banks today, the ECCB recognises the importance, for effective implementation of monetary policy, of explaining to the public the Bank’s objectives and decisions as well as the rules and procedures which govern the operations of the institution.