St. Maarten Private Eye

Flipper -- do you have any idea why is there not more attention given to the fact that due to the Central Bank in the Neth. Antilles lack of action, the Deposit Insurance Regulation as described in the Federal Ordinance Supervision Bank and Credit System Neth. Antilles (Article 39) was never enacted?

This system can be compared to the FDIC in the USA, the "Deposito Garantie Stelsel" in the Netherlands and other Deposit Guarantee Systems in most (if not all) European countries.

See The Daily Herald's article on this issue here:

http://www.thedailyherald.com/news/daily/l126/protect126.html

It's a DAMN SHAME that the Central Bank of the Neth. Antilles has not consulted and come to workable system with the commercial banks since 1994 when the law was adopted, which would have ensured protection of deposits for account holders (to a certain amount).

It's also sad, that many citizens don't seem to care or fail to realize this severe shortcoming and lazy attitude from the Central Bank and those elected federal officials that are supposed to make sure that the Central Bank lives upto laws that are adopted, can have DISASTEROUS consequences for local account holders.

Wake up people, your hard earned money is at stake!