WILLEMSTAD - The Central Bank of Curaçao and Sint Maarten (CBCS) and the Minister of Finance report that the controlled phase-out of the activities of Giro Bank NV will continue, in accordance with the announcement thereof during the CBCS press conference in December 2019. In the context of the phase-out, the CBCS and the Minister of Finance are working together towards a solution for the depositors. This solution will be implemented during the transition phase. The interests of Giro Bank staff are also considered.
On Tuesday, December 10, 2019, the CBCS froze all assets that were in the books of the Giro Bank at the end of that day (moratorium). However, amounts up to a maximum of NAF 10,000 have remained freely available. All amounts deposited after the moratorium was introduced have also remained freely available. This has reduced the number of accounts on which funds have been frozen from about 27,000 to about 2,000.
The depositors of Giro Bank NV can continue to make use of their withdrawable funds freely.
It is expected that further details of the solution will be forthcoming.
