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Sweeping banking reform begins

Saint Lucia is one of the first OECS territories to begin the process of passing legislation aimed at strengthen banking regulations to deal with future financial crises.
Prime Minister Dr. Kenny Anthony says the banking act is one of the most dramatic pieces of legislation to be enacted by parliaments across the Eastern Caribbean Currency Union.
The legislative reforms are intended to lessen the role of finance ministers and politicians in monetary policy in licensing financial companies.

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