ORANJESTAD, ARUBA:--- The College Financieel Toezicht (Cft), the board responsible for financial supervision in Curaçao and Sint Maarten, has issued a formal response to the Curaçao Gaming Authority (CGA) regarding public comments about a potential investigation. In a letter dated December 3, 2025, the Cft acknowledged its error and clarified its position on financial oversight and integrity.
The letter, addressed to Minister of Finance Javier Silvania, comes after the minister contacted the Cft on December 1. The CGA had previously confirmed to both the Minister of Justice and the Minister of Finance that it was not aware of any ongoing investigation into its operations by the Public Prosecutor's Office.
In its response, the Cft accepted the CGA's clarification. The supervisory board stated, "Upon further consideration, we agree with you that it would have been better if the Cft, in its public letters, had referred only to investigations confirmed by official channels." The Cft has committed to ensuring this standard is met in all future communications and has issued an amended version of its third Implementation Report to reflect this correction.
While retracting its previous reference, the Cft maintained that matters of integrity fall within its supervisory framework when they have the potential to impact public finances or the quality of financial management. The board emphasized that integrity and sound financial governance are fundamentally linked.
The Cft referenced Curaçao's own constitution to support its position, noting that the Explanatory Memorandum states, "The country of Curaçao aims to conduct efficient financial management. In this context, legal rules are established to guarantee the integrity of the administration and the soundness of financial management (Article 86)."
The letter concludes with the Cft expressing hope that its response has addressed the government's concerns and provided sufficient information on the matter.
