PORT OF SPAIN, Trinidad, CMC – The Central Bank of Trinidad and Tobago (CBTT) says that as it progresses through the final half year of its five-year strategic plan, efforts will center on consolidating key achievements, assessing institutional impact, and laying the groundwork for the next strategic cycle beginning on October 1, this year.
According to the CBTT, efforts are continuing to deliver on the outstanding initiatives linked to its three strategic themes in the current strategic plan: monetary policy, financial stability, and internal operations.
It said that feedback from surveys completed by both staff and external key stakeholders over the last half year will be used to identify priority areas and to translate them into concrete policy and operational initiatives.
“Collectively, these initiatives will inform the objectives for the new strategic planning cycle, ensuring the Bank’s forward agenda remains responsive to stakeholder concerns and carefully aligned with its monetary and financial stability mandates.”
The CBTT said that over the next several months, it will advance the Currency Transition Program (CTP) by completing the necessary infrastructure and cash processing upgrades to support the rollout of the new 100 Trinidad and Tobago dollar note, scheduled for circulation by August 2026.
“In parallel, a widescale public education campaign under the Know Your Money initiative will be implemented beginning mid-2026, ensuring the public is fully prepared for the transition to notes and coins bearing the new Coat of Arms.”
The CBTT said that it will continue its internal review of the future of the five-cent coin, including cost-benefit analysis and preparatory work for a final decision. It said this assessment is expected to progress through 2026.
The CBTT also said that over the coming months, it will continue embedding enhanced supervisory frameworks by fully operationalizing the updated Risk-Based Supervision Framework across the banking and insurance sectors, strengthening harmonized and forward-looking oversight throughout 2026.
“Concurrently, the Bank will progress the liquidation proceedings for British American Insurance Company (Trinidad) Limited (BAT), ensuring policyholder protection and financial stability safeguards as the process advances through 2026.
“Supervisory actions arising from Trinidad and Tobago’s National AML/ CFT/CPF Policy & Strategy (2026–2029) will also be implemented, supporting stronger sector-wide compliance frameworks.”
It said it will also continue strengthening the national payments ecosystem by supporting the expansion of digital financial service offerings through registered e-money issuers such as WamNow Technologies, ensuring full compliance with regulatory requirements and robust consumer protection measures.
“Concurrently, legislative and regulatory work to finalise the Payments Systems and Services (PSS) Bill and Regulations will advance through 2026, reinforcing the supervisory framework governing electronic payments and financial technology innovation,” the CBTT said, adding that it will also continue its collaboration on regional integration efforts, including the piloting of the CARICOM Payment and Settlement System (CAPSS), with further implementation activities expected over the next six to 12 months.
“Collectively, these actions will position the Bank to modernize the payments landscape while safeguarding financial stability and supporting innovation.”
The CBTT said that it is preparing to commence pilot testing of the selected Supervisory Technology platform in the coming months, noting that this initiative aims to modernize supervisory processes by improving data collection, analytics, and real-time risk monitoring across regulated entities.
The pilot phase will allow the CBTT to validate system functionality, assess integration with existing supervisory tools, and identify any operational or data quality enhancements required before full rollout.
“Outcomes from the pilot will inform the implementation roadmap, user training requirements, and the broader digital supervision strategy designed to strengthen the Bank’s risk-based oversight framework,” it added.
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