International Banking
Licensing and supervision of international banks established under the IBC Act.
Overview
An international bank is a corporation established under the IBC Act and granted a license to conduct international banking business. A license is granted provided that the applicant meets the required standards, including a minimum capital requirement and physical presence. An international bank is also required to submit annual audited returns and quarterly financial statements.
Requirements
- Minimum capital requirement as prescribed by law
- Physical presence in Antigua and Barbuda
- Annual audited returns submission
- Quarterly financial statements
- Fit and proper assessment of directors and management
- Comprehensive business plan and risk management framework
For detailed information, please refer to the International Banking Requirements, International Banking Licensing Procedure, and International Banking Act.
Key Functions
- Banking license issuance
- Prudential supervision
- Financial monitoring
- Compliance oversight
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