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Integrity Supervision - Supervisory role of the CBA

Supervisory role of the CBA

The CBA is the sole supervisory authority in Aruba with respect to the financial sector. The supervision of the CBA aims primarily at maintaining the soundness and integrity of the financial system. Hereby  safeguarding the interests of depositors, policyholders and investors. The CBA is responsible for the regulation and supervision of banks, credit institutions, lending businesses, life insurance companies, company pension funds, investment companies, money transaction companies, money exchange offices, pawn shops, securities businesses and trust service providers.

The CBA is also mandated with the oversight on the compliance with the anti-money laundering and countering financing of terrorism (AML/CFT) laws and regulations at the financial institutions and designated non-financial service providers (including but not limited to lawyers, civil notaries, tax advisors, accountants, jewelers, high value dealers, casinos).

The CBA keeps public registers of the entities under its supervision. Click here to view all the registered entities and here for a register of designated, non financial business and professions

Annual supervision costs

The supervision tasks the CBA carries out are partly funded by the supervised sectors. 

The table below provides an overview of the supervised costs passed on yearly to the different sectors as of the date the respective State Decrees providing the legal grounding to pass on part of the supervision costs to the respective sectors came into effect.  

Sectors  Supervisory costs passed on 
Credit institutions Afl. 800,000
Insurers  Afl. 300,000
Captives  Afl. 30,000
Insurance brokers Afl. 55,000
Company pension funds Afl. 155,000
Money transfer companies Afl. 150,000
Trust service providers Afl. 100,000
Total  Afl. 1,590,000

Note that until now only a relatively small part of the actual costs are charged to the sectors supervised and that so far the CBA has absorbed all costs related to overseeing compliance with the AML/CFT laws and regulations.