Friday 22 March, 2019

Seven receive instruments of appointment to Central Bank Board

Finance Minister Colm Imbert (centre), flanked by newly appointed and former appointees of the Central Bank Board.

From left to right: Mr. Lancelot Jack, Prof. Surendra Arjoon, Dr. Alvin Hilaire, Mr. Terrence Walker, Mr. Richard Duncan, Minister Colm Imbert, Mr. Kirk Henry, Dr. Sandra Sookram, Mr. Kern Gardiner, Ms. Lorraine Ferguson, Mr. Vishnu Dhanpaul

Finance Minister Colm Imbert (centre), flanked by newly appointed and former appointees of the Central Bank Board. From left to right: Mr. Lancelot Jack, Prof. Surendra Arjoon, Dr. Alvin Hilaire, Mr. Terrence Walker, Mr. Richard Duncan, Minister Colm Imbert, Mr. Kirk Henry, Dr. Sandra Sookram, Mr. Kern Gardiner, Ms. Lorraine Ferguson, Mr. Vishnu Dhanpaul

Finance Minister Colm Imbert presented instruments of appointment to new members of the Board of Directors of the Central Bank on Thursday.

Three individuals from the previous board remain as their terms of office are expected to expire in 2020.

Dr Alvin Hilaire (Governor, CBTT)

Dr Sandra Sookram (Deputy Governor, CBTT)

Mr Vishnu Dhanpaul (Ministry of Finance – Economist)

The other members’ terms expired on February 3, 2019.

According to the statement issued by the Ministry of Finance on Friday morning, Section 5 of the Central Bank Act, Chap. 79:02, as amended by Act No. 23 of 1994, provides for the CBTT to be managed by a Board of Directors, comprising a Governor, not more than two deputy governors and not less than six other directors, two of whom may be public service directors. 

Section 8, subsection (2) of the Act states that:

“(2) The ordinary directors shall be selected from amongst persons drawn from

diverse occupations appearing to the President to be qualified by reason of

their experience and capacity in matters relating to finance, economics,

accountancy, industry, commerce, law or administration”

Based on the foregoing, the Ministry of Finance said Cabinet recently agreed to the appointment of the under-mentioned persons, as members of the Board of Directors of the CBTT for a period of three years with effect from the date of their Instruments of Appointment in accordance with the provisions of sections 5, 7 and 8 of the Central Bank Act, Chap. 79:02:-

Professor Surendra Arjoon (Economics)

Mr Richard Duncan (Law)

Mr Lancelot Jack (Industry and Commerce)

Mr Terrence Walker (Administration)

Mr Kirk Henry (Administration)

Ms Lorraine Ferguson (Industry and Commerce)

Mr Kern Gardiner (Accountancy)

The Board of Directors of the CBTT will therefore now comprise of the following persons:

Dr Alvin Hilaire (Governor, CBTT)

Dr Sandra Sookram (Deputy Governor, CBTT)

Mr Vishnu Dhanpaul

Professor Surendra Arjoon

Mr Richard Duncan

Mr Lancelot Jack

Mr Terrence Walker

Mr Kirk Henry

Ms Lorraine Ferguson

Mr Kern Gardiner

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