WILLEMSTAD, PHILIPSBURG – The Central Bank of Curacao and St. Maarten (CBCS) has frozen the operations of the Girobank N.V. on December 10 due to the unrest. This means that at the moment no transactions with or via the Girobank can take place. The reason for this is the Girobank is technically unable to process the increase in withdrawals. These withdrawals are putting pressure on Giro’s liquidity.

This measure was taken in the interest of the account holders. The CBCS informs that every Girobank customer will have up to a maximum amount of NAf. 10,000 at his or her disposal. This means that more than 90% of customers can use their full credit.

This is in accordance with international deposit guarantee standards.