"This is a very important development for country St. Maarten as well as country Cura�ao. The next step is to move forward with the appointment of members of the bank's supervisory board. Once the board has been appointed, with representatives of Cura�ao and St. Maarten, it can move forward in dealing with pending Central Bank matters," Shigemoto said in a press release Friday evening.
No details were provided about the transition regulation.
Shigemoto travelled to Cura�ao several times in the past months to meet with Jamaloodin and for other financial matters. The discussions between the two ministers have been focused on the future role of the Central Bank and pending matters that needed to be dealt with once the regulation was put in place.
The Council of Ministers approved its three members for the bank's Supervisory Board of Directors in December. The candidates are marine sector businessman Robbie Ferron, constitutional lawyer Ralph Richardson and tax consultant Marciella Illidge.
The next stage of the appointment process is for Governor Eugene Holiday to sign the ministerial decree, Shigemoto explained in the press release.
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