PHILIPSBURG--The renovation of the building that houses the Central Bank of Curacao and St. Maarten (CBCS) in Philipsburg is currently underway.
Similar to the construction of the current accommodation of the Central Bank in Scharloo, Willemstad, a supervisory board has also been appointed to oversee the renovation of the Central Bank in St. Maarten.
This board consists of Jairo Bloem (attorney in St. Maarten), former Governor of the Netherlands Antilles Frits Goedgedrag, and, until recently, Herman George, Norbert George's father, who had resigned in connection with the appointment of his wife Lucille George Wout as Governor of Curaçao at the end of 2013.
In accordance with Article 21 of the new Bank Statutes which became effective on October 10, 2010, the CBCS office in St. Maarten must be developed into a fully-functioning Central Bank branch.
The CBCS building is currently being renovated and refurbished in order to be able to adequately house the CBCS branch.
The supervisory board was appointed to supervise the implementation of the construction in accordance with the relevant rules and procedures. The members of the supervisory board will be compensated for their work.
Other details about the renovation could not be obtained by press time.