WILLEMSTAD – Curacao Bankers Association (CBA) should have taken a different approach to eliminating the payment check and is therefore at fault for the failure of canceling the project. This is according to the president of the association Leo Regaud.

The Fair Trade Authority Curacao (FTAC) previously ruled that the collective elimination of the check is in violation of the competition law. As a result, the individual elimination of such a check is now no longer permitted.

If the banks on Curacao had individually made the decision to eliminate the check, there would have been no problem. By making this decision collectively, the CBA cut itself in the fingers. “In the spirit of the FTAC decision, banks are now no longer allowed to cancel the check individually,” said Rigaud.

The bankers’ association is in talks with the Central Bank to be able to eliminate the check, as happened on Aruba and Bonaire, but Rigaud is done with it for the time being.