The Central Bank of Barbados issued a clarification on inquiries about the Governor’s role as an Independent Director on the Board of the African Export-Import Bank (Afreximbank), stating that the appointment complies with the Central Bank of Barbados Act, 2020-30 and does not create a conflict with his duties as Governor. Under the Act, the Governor may accept external appointments with the approval of the Central Bank’s Board of Directors, and the Bank confirmed that this approval was granted. It also stated that the Governor receives no remuneration for his Afreximbank board service, which is provided on a pro bono basis, and noted that Afreximbank operates outside the Central Bank of Barbados’ regulatory jurisdiction, which is focused on domestic financial institutions.
Central Bank of Barbados 2025-03-24
Central Bank of Barbados clarifies Governor’s Afreximbank board appointment and confirms no conflict of interest
The Central Bank of Barbados clarified that the Governor's role as an Independent Director on the African Export-Import Bank Board complies with the Central Bank of Barbados Act, 2020-30, and does not conflict with his duties. The appointment was approved by the Central Bank’s Board of Directors, and the Governor serves pro bono. Afreximbank operates outside the Central Bank's regulatory jurisdiction, which focuses on domestic financial institutions.