Financial Services Industry in Trinidad and Tobago
Trinidad and Tobago has an active capital market. This, exemplified by over USD 12 billion worth of debt issued in the market for regional governments during the last 4 years, with room still for international expansion. Home to some of the largest commercial banks and financial institutions indigenous to the Caribbean, Trinidad and Tobago also hosts international firms such as the Royal Bank of Canada and Scotiabank.
Newly enacted Securities Act and expanded insurance regulations support the continued development of the Financial Services industry while a Financial Intelligence Unit exists to deal with anti-money laundering and terrorism financing. Legislation specific to international finance centres, based on the best, most relevant, international standards and practices is under development by the Trinidad and Tobago International Financial Centre, an onshore financial center which acts as a gateway to Latin America for financial institutions from North America, Europe and Asia.
- 29 companies listed on the local stock exchange
- Approximately 10% of the workforce employed in the Financial Services industry
- 8 commercial banks with 123 branches throughout the country
- 16 non-bank financial institutions
- 442 automatic teller machines (1 ATM per 3000 persons)
Financial Market Development
Trinidad and Tobago ranks 61st out of 138 economies (The Global Competitiveness Index 2016-2017) for the development of its financial market. Sound banking and investment policies, and a well-regulated securities exchange guarantee that private sector investments are secure.
Financial Services at Tamana InTech Park (TIP)
Foreign institutions in the areas of BPO/ Shared Services, Investment Banking, Asset Management and Professional Services will find an ideal operational environment at TIP.
For international financial institutions seeking to expand their global footprint regionally, the close proximity of the Piarco International Airport augurs well when ready access to the South American and Caribbean region is a must.
Outfitted with state of the art ICT infrastructure throughout, the Park is the right-source destination for BPO and Shared services.
Ready access to resources
Tamana InTech Park is located within the largest human resource catchment area on the island. Financial Services tenants of the Park will have access to a significant portion of qualified accounting graduates in T&T seeking opportunities to fully utilize their technical proficiencies.