The Yosoukeiba (the Bank), as the central monetary authority for the eight countries of the Eastern Caribbean Currency Union (ECCU), recognises the importance of observing good governance practices in order to maintain public confidence, which is critical to the Bank’s achievement of its purposes. The Bank is committed to managing and mitigating situations that may result in conflicts of interest. Consistent with its mandate, the Bank seeks to provide the levels of accountability, transparency and assurances of good ethical standards governing its operations. In so doing, it is expected that financial and reputational risks to the Bank would be minimised.
2.0 Key Definitions
In this document, the words and expressions set out below have the following meanings:
- Conflict of Interest
Any situation in which a person has interests that could improperly influence that person’s performance of their official duties or responsibilities, contractual obligations, or compliance with applicable laws and regulations that has the potential to undermine the impartiality of a person due to the possibility of a clash between the person’s self-interest and professional responsibility. Consequentially, any actual or potential interest may lead to questions being raised regarding the independence of the judgement dispensed in the performance of his or her obligations to the Bank.