According to a release from the NIA, Lawrence was at the time addressing representatives from the financial sector at the seventh annual Anti-Money Laundering [AMT]/Caribbean Task Force [CFT] Awareness Seminar.
In the absence of Nevis’ Premier and Minister of Finance, Joseph Parry, Mr. Lawrence spoke of the NIA’s commitment towards the offshore sector and its plans to strengthen the public and private sectors.
“I can assure all of you here that we will not give up in terms of the offshore sector. Throwing in the towel is completely out of the question for us,” the PS said adding that the NIA was “trying to forge a corporation between the public and private sectors.”
He further added, “From what I’m seeing, the future is bright for improved cooperation so that we could continue to work together as a team to advance the interest of Nevis in the offshore arena.”
According to the permanent secretary, significant efforts had been made by jurisdictions to strengthen the legislative and regulatory system with several legislations being passed in St. Kitts-Nevis.
“We have improved regulatory infrastructure and we have done a tremendous amount of work in improving our standards,” he stated.
With the continued aim of eliminating negative perceptions and maintaining the integrity of the financial system, the PS Lawrence highlighted his ministry’s plans to continually host financial seminars.
“Seminars such as these become even more important in providing industry players and government with a forum in which we can become more informed on developments and standards of best practice and where practitioners can share experience which will ultimately lead to improved business practice,” Mr. Lawrence revealed.