Dominica’s Financial Services Unit (FSU) has won the prestigious Wealth and Finance International Award as the Financial Services Regulatory Authority of the Year 2024 – Caribbean. The award highlights the FSU’s dedication to regulatory excellence and its commitment to strengthening Dominica’s financial services sector and promoting integrity and compliance with international standards.
The Wealth and Finance International Award recognizes institutions demonstrating outstanding performance in financial regulation, as well as skill, innovation, and success in delivering trusted and reliable financial services to clients. Dominica’s FSU was chosen for its robust regulatory frameworks, ongoing monitoring, and effective enforcement policies, which enhance the credibility of Dominica’s financial services sector both regionally and globally.
As Dominica’s sole regulatory authority for financial services, the FSU oversees a range of institutions including credit unions, insurance companies, offshore banks, Forex businesses, and other financial entities and service providers. Director of the FSU, Claudius Lestrade says the award recognizes the FSU’s success in enhancing transparency, combating financial crimes, and implementing policies that promote a stable financial environment.
“We strive to foster an internationally competitive financial services industry and aim
to enhance Dominica’s financial services sector while protecting consumer interests.
Integrity and transparency guide our operations and we are dedicated to serving
clients with honesty as a fundamental principle,” he commented. “This recognition highlights our team’s commitment and the government’s support in maintaining a resilient, transparent financial sector.
The FSU remains dedicated to safeguarding stakeholders’ interests and enhancing Dominica’s standing as a secure and compliant financial services hub.”
The Financial Services Unit, established by an Act of Parliament in 2008, operates
under the Ministry of Finance, Economic Development, Climate Resilience and
Social Security.
