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GOSL to approve Banking Business Vesting Order for RHFL to acquire Bank of Nova Scotia’s Operations in Saint Lucia

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THE Monetary Council registered its no objection to the decision of the Eastern Caribbean Central Bank (ECCB) to approve the application for the transfer of the assets and liabilities of the Bank of Nova Scotia (BNS) to Republic Financial Holdings Limited (RFHL). This decision was taken at its meeting convened on 6th September 2019.

As with most ECCB member countries, the Government of Saint Lucia (GOSL) will proceed to approve the requisite Banking Business Vesting Order for the RHFL to acquire the BNS’s operations in Saint Lucia.

To this end, the GOSL wishes to invite the public and/or private entities to consider the many investment opportunities, which may arise as a result of this transaction.

The GOSL will continue to monitor the process through the Department of Finance to ensure a smooth transfer of operations and urge all Saint Lucians to stay tuned to developments in the financial sector.

For further information please contact the Office of the Permanent Secretary in the Department of Finance.

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