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ECCB A
nnual
R
eport
2015/2016
xii
EASTERN CARIBBEAN CENTRAL BANK
Highlights
of the
Year
In accordance with Article 5E (2)(b) of the ECCB
Agreement, the ECCB relinquished control of the ABI
Bank Limited with effect from 27 November 2015.
The ECCB had assumed control of the ABI Bank Limited
on 22 July 2011 in accordance with its emergency powers
set out in Part IIA of the Eastern Caribbean Central Bank
Agreement 1983 (as amended) set out as a schedule of the
Eastern Caribbean Central Bank Agreement Act. Cap.142
(as amended) in the laws of Antigua and Barbuda.
Effective 1 December 2015, the Honourable Sir K Dwight
Venner, the second Governor of the ECCB, retired after 26
years of distinguished service to the Bank. In recognition of
his long and yeoman service to the Bank and by extension,
the ECCB member countries, at its 84
th
Meeting the ECCB
Monetary Council established a Committee to identify an
appropriate manner to honour Sir Dwight’s legacy.
On 1 February 2016, the ECCB welcomed
Mr Timothy N. J. Antoine as its third Governor.
Mr Antoine, a former Permanent Secretary in the Ministry
of Finance, Grenada, has significant regulatory experience
having served as a member of the ECCB Board of Directors
for 12 years and as Chairman of the Grenada Authority for
Regulation of Financial Institutions for seven years. On
his first day in office Governor Antoine shared his vision
for the ECCU and the ECCB: A
New Vision For A New
Era: 2016 - 2020 and Beyond
.