NIBTT Signs MoU with FIUTT

(Left-Right) Mrs. Niala Persad- Poliah, Executive Director of the NIBTT and Ms. Mary Campbell - Director (A.g.) at the FIUTT, display copies of the signed MoU.

On Tuesday 26th January 2021, the National Insurance Board of Trinidad and Tobago (NIBTT) and the Financial Intelligence Unit of Trinidad and Tobago (FIUTT) entered into a Memorandum of Understanding (MoU) for the establishment of a framework to facilitate the exchange of information.

The purpose of the MoU is to establish a formal basis for consultation, collaboration, coordination and information exchange between the NIBTT and FIUTT with regard to the prevention of money laundering, financing of terrorism, financing of proliferation of weapons of mass destruction and related activities. Information received by each agency under this MoU, shall be treated as confidential to the full extent required by the Laws and Regulations and used strictly for the purposes as outlined in the Agreement.

Mrs. Niala Persad-Poliah, Executive Director of the NIBTT and Ms. Mary Campbell - Director (A.g.) at the FIUTT, were the signatories to the MoU. According to NIBTT's Executive Director, "this MoU presents the NIBTT with a unique opportunity to make an impactful contribution in support of Trinidad and Tobago's financial services sector. The NIBTT is proud to play a pivotal role as a co-signatory to this Agreement, and I look forward to its operationalization."

Also present at the signing ceremony were Ms. Kylene Dowden - Director, Legal Services and Ms. Heather Baldwin-McDowell - Public Relations Officer at FIUTT while Mr. Feyaad Khan, Chief Operating Officer - Business Services and Ms. Sarah Baboolal, Executive Manager Legal Services of the NIBTT were also present.