The Trinidad and Tobago International Finance Centre is an onshore financial centre which acts as a gateway to Latin America for financial institutions from North America, Europe and Asia. The agency focuses on attracting foreign institutions as anchor tenants to T&T in the areas of BPO/ Shared Services, Investment Banking, Asset Management amd Professional Services.
29Companies listed on the local stock exchange
10%Workforce employed in the financial services sector
8Commercial banks with 123 branches around the country
16Non-bank financial institutions
442Automatic teller machines (or 1 ATM per 3000 persons)
Trinidad and Tobago ranks 61st out of 139 economies (see chart below) for the development of its financial market. Sound banking and investment policies and a well- regulated securities exchange ensure that private sector investments are secure.
61st: Trinidad and Tobago
87th: Dominican Republic
Source: Global Competitive Index 2016/2017
The Financial Services Industry includes banking and non-banking services as well as regulatory and administration bodies.
T&T's financial sector is regulated by the Central Bank of Trinidad and Tobago (CBTT) . Commercial bank products and services include local-currency and US-dollar savings and investment instruments, foreign exchange dealings, money market instruments, trade financing, project financing and the floating and underwriting of shares and bonds.
Source of Information: Oxford Business Group
As at December 31st 2015, the Trinidad and Tobago Stock Exchange had 29 listed companies and a market capitalization of USD 17 billion (Source: TTSE)
(Information sourced from TTIFC's website www.ttifc.co.tt)