PHILIPSBURG:--- “The communication by CBCS regarding the termination process of the former CBCS Director and the process of his appointment as Chief Executive Officer of a commercial bank is unacceptable under the current circumstances,” stated Minister of Finance Marinka Gumbs in a press release issued on Monday, July 14, 2025.

“The appointment was not properly communicated to the Shareholders. We were only informed after the fact.” In a letter dated June 27, 2025, the Minister of Finance was officially informed by CBCS of the formal resignation of the former director, which had been submitted on June 26, 2025. The letter also indicated that the individual would begin a new position on July 1, 2025, although no mention was made of the specific commercial bank name.

Additionally, it referenced decisions made within CBCS as early as December 1, 2024, regarding the matter, yet no prior communication was provided to the Shareholders, raising serious concerns about transparency and governance. The timing is particularly troubling, as Shareholders were only officially informed three days before the start date, despite standard practice typically requiring at least one month’s notice. The sequence of events raises questions and appears highly irregular.

The individual recently appointed as CEO of a commercial bank was, until recently, a Director at the Central Bank of Curaçao and Sint Maarten (CBCS). This commercial bank operated under the direct supervisory authority of the Central Bank.

Minister Gumbs expressed serious concern over the lack of communication with the Shareholders, calling it entirely unacceptable. She noted that the process did not begin in June, as suggested, but appears to have been underway since December of the previous year. On two separate occasions, she had to actively request information from CBCS after first learning of key developments through media reports. At no point was a meeting convened to inform the Shareholders of this significant transition or to explain what measures were being taken to prevent potential bias. In a small community like ours, timely and transparent communication, both to Shareholders and to the public, is essential to prevent misunderstandings and perceptions of partiality. In this respect, CBCS has fallen notably short.

“I have requested a meeting with the Central Bank to discuss this matter. I shouldn’t have had to do that in the first place. Still, I’m looking forward to this meeting,” she stated, pointing out that her position is in complete alignment with that of her colleague in Curacao, Minister Javier Silvania. Minister Gumbs emphasized that much of the current concern could have been avoided through timely and proper communication from CBCS.

Minister Gumbs said that the new appointment could further “complicate ongoing legal, political, or financial efforts to stabilize or assess the ENNIA process, including the vexed issue of Mullet Bay.”

“Stakeholders may question whether potential future opportunities for its executives influenced past CBCS decisions,” she added.

“This is not merely about optics; it reflects a failure in institutional safeguards and governance,” Minister Gumbs stated.

“The fact that the commercial bank was and still is a direct beneficiary of CBCS-led decisions, under the watch of its new CEO, makes this transition a textbook example of regulatory risk,” she explained, adding that it could be seen as borderline “insider trading.”

“The Supervisory Board must explain how this move was allowed to proceed and why no interim or ethical restrictions were applied,” Minister Gumbs continued.

She further pointed out that this decision raises issues of conflict of interest, especially in the absence of a cooling-off period, because the new CEO was involved in decisions regarding the sale or approval processes of entities, including the commercial bank itself, which he now heads.

“If accounting firms, for example, and many other companies have clauses that prohibit their executives from working for similar clients for a specified period of time after they leave or resign, it is unbelievable that a regulator like our Central Bank wouldn’t have such a requirement. That’s a big red flag for me.”

Moreover, Minister Gumbs stated that the appointment process raises concerns about the regulatory integrity of and public trust in the Central Bank. “In my view, it undermines the perception of CBCS as a neutral and independent regulator, and it raises questions about whether insiders are benefiting from privileged information or influence over regulated entities.”

Finally, Minister Marinka Gumbs stated that the whole matter strikes at the very heart of supervisory credibility.

“This could signal to the public and financial sector that former regulators can transition directly into the institutions they once supervised without consequence or scrutiny,” the minister stated, adding: “I am looking forward to the meeting with the Central Bank where I will further hear from them and also they will hear from me regarding what I believe should be the plan going forward. But something of this nature should never ever happen again.”

Saint-Martin:--- Authorities have issued an urgent alert regarding the disappearance of Joseph EGEN, a 30-year-old resident of Saint-Martin. The alert, released by the French Ministry of the Interior and the local Gendarmerie, classifies the case as a "disparition inquiétante" (concerning disappearance).

Joseph EGEN was last seen leaving his residence on the morning of July 11, 2025, at approximately 8:30 AM. Disturbingly, he left behind his phone and identification, raising concerns about his safety and well-being. Since his departure, there has been no contact with his family, prompting the authorities to take swift action.

The Gendarmerie of Saint-Barthélemy and Saint-Martin has urged the public to assist in locating Joseph. Anyone with information about his whereabouts is encouraged to call the emergency number 17 immediately. The local Gendarmerie can also be reached at 05.90.52.33.88 for further details or to provide leads.

This alert highlights the importance of community involvement in ensuring the safety of vulnerable individuals. The authorities are working diligently to gather information and locate Joseph as quickly as possible.

The Gendarmerie’s headquarters in Saint-Martin, located at 80A Route de la Savane, remains the central point for coordinating the search efforts. The public is reminded to stay vigilant and report any relevant information promptly.

About the Missing Person:

• Name: Joseph EGEN
• Date of Birth: May 30, 1995
• Place of Birth: Saint-Martin
• Last Seen: July 11, 2025, at 8:30 AM

The community’s cooperation is vital in such cases, and authorities are hopeful that with public assistance, Joseph will be found safe and sound.

For updates on this case, stay tuned to official announcements from the Gendarmerie and the Ministry of the Interior.

PHILIPSBURG:---  Director of Social & Health Insurances (SZV), Mr. Glen A. Carty, recently participated in a follow-up meeting in Curaçao with Mr. Johan de Graaf, Director of the Curaçao Medical Center (CMC), building on earlier discussions held in Sint Maarten. The agenda centered on strengthening relationships between hospitals and insurance providers across the region.

These meetings have brought together key stakeholders to exchange insights, address common challenges, and learn from each other’s experiences, both positive and negative. With shared goals such as automating processes, digitalizing client services, healthcare financing, and improving the quality of care, participants reaffirmed their commitment to continuous dialogue, collaboration, and regional partnership.

“The challenges we face in the healthcare sector are not unique to Sint Maarten—they are regional and even global,” stated Carty. “By staying connected, we can find sustainable solutions together.”

A central theme throughout the discussions was the increasing role of automation and how technological advancements have enabled organizations like SZV to enhance operations and service delivery. Participants explored opportunities to leverage these tools in creating more efficient and transparent systems that benefit both patients and care providers.

 BPW Concordia continues to set the pace for women’s empowerment through its transformative ‘Members in Motion’ series; this time, shining a spotlight on the powerful concept of cultural currency. On July 2nd, members gathered for an inspiring session hosted by passionate BPW Concordia member Cindy Peters, featuring a presentation and captivating sit-down interview with cultural advocate and storyteller Tamara Groeneveldt.

Under the theme “Members in Motion: What is Your Cultural Currency?”, the session highlighted the true value that our cultural knowledge, traditions, language, symbols, and practices hold in our daily lives, institutions, and collective prosperity. Through an engaging conversation-style interview, Cindy Peters invited author, poet, and business owner Tamara Groeneveldt, who shared about her literary journey with her poetry and first book “After the Storm”. The owner of St. Martin Sweetness explained how she recognized and harnessed her own cultural currency through her cultural poetry and her business of local pastries and juices.

 Drawing from the work of renowned sociologist Pierre Bourdieu, Peters emphasized that indeed cultural knowledge acts as a form of capital, a currency that shapes our experiences, expands our opportunities, and is a necessary tool, especially in colonial spaces, to strengthen our communities and development.

 Participants were encouraged to recognize, embrace, promote, protect, and monetize their cultural wealth in ways that build social influence, preserve identity, and generate economic and political empowerment for Caribbean women and our communities.

Ms. Peters expounded on key recommendations from a Forbes 2019 article ,which included:

•      Always be consumer and citizen-centric
•      Partner with creatives
•      Start small
•      Focus on a long-term strategy
•      Build diverse teams

 The session concluded with a special treat from St. Martin Sweetness: Ms. Groeneveldt graciously presented attendees with locally made tarts, offering everyone a delicious and tangible taste of her own cultural heritage; a living example of how cultural currency can be shared and celebrated.

 This energizing event is one of many through BPW Concordia’s Members in Motion initiative, designed to spark growth, advocacy, and collective action among professional women across the region.

“We listened, we absorbed, and now we’re ready to externalize and put these insights into practice,” said  Peters. “Our heritage is our wealth and path to liberation, and it’s pivotal that we use it to uplift ourselves, our communities, and safeguard our destiny.y”

BPW Concordia extends heartfelt congratulations to Cindy Peters for spearheading this timely dialogue and deep gratitude to Tamara Groeneveldt for generously sharing her wisdom and her cultural flavors with our members.