Philipsburg:--- Honourable Minister of Finance Hiro Shigemoto signed the transition regulation with his counterpart from Curacao Hon. Minister of Finance George R.M. Jamaloodin on Friday regulating the new Central Bank of Curacao and Sint Maarten.
This is seen as a significant development in the young life of country Sint Maarten.
Minister Shigemoto travelled to Curacao several times and met with his counterpart to discuss the future role of CBCS and pending banking matters that needed to be dealt with once the regulation was put in place.
"This is a very important development for country Sint Maarten as well as country Curacao. The next step is to move forward with the appointment of members of the bank's supervisory board.
"Once the board has been appointed with representatives from Curacao and Sint Maarten, they can move forward in dealing with pending Central Bank matters," Hon. Minister of Finance Hiro Shigemoto stated on Friday.
The Council of Ministers approved the three members in December who would represent the country on the board of the Central Bank.
The three Sint Maarten candidates are marine sector businessman Robbie Ferron, constitutional lawyer Ralph Richardson and Marciella Illidge.
The next stage of the appointment process is for the Governor to sign the ministerial decree.
