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Central Banl Refutes Allegation on Western Union Masters License.

Willemstad:---  The Centrale Bank van Curacao en Sint Maarten (CBCS) has taken note of an anonymous news report suggesting that the President of the CBCS has given a certain bank preferential
treatment in granting that bank permission for a master license for Western Union.
The CBCS emphatically refutes and denies these allegations. The CBCS has never, at any moment, granted permission for a master license, given that – only until last Friday – there was no legislation
concerning the supervision on these master licenses, thus there was no legal framework for the CBCS to act accordingly.
As mentioned, the national ordinance concerned entered into force last Friday and the CBCS is now developing a policy with respect to the application requirements to qualify for a master license
permit. Only when this policy is implemented, will the CBCS start handling applications for permissions. The CBCS confirms that, currently, there are no applications under consideration.
In conclusion, the CBCS emphasizes that no permission for a master license has been granted to any bank or other financial institution. These are false allegations which are not based on any fact
and can only be seen as yet another attempt to damage the reputation of the CBCS and its President.

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