Minister of Finance, Ms. Marinka J. Gumbs, is pleased to announce that on April 29, 2025, she will present the Draft Basic Payment Account Law to Parliament. This important legislative initiative aims to promote greater financial inclusion by ensuring that all citizens with a vested interest in Sint Maarten, have access to a basic, affordable bank account offering essential financial services.
The Basic Payment Account Law guarantees residents the right to open and maintain a low-cost account providing core functionalities such as deposits, withdrawals, and transfers. This initiative underscores Minister Gumbs' commitment to building a more inclusive, accessible, and resilient financial system.
Minister Marinka Gumbs stated, "Access to a bank account is not a luxury—it is a necessity in today's world. With the Basic Payment Account Law, we are ensuring that every citizen has the opportunity to fully participate in our economy. I am honored to take this important step tomorrow and look forward to working with Parliament to make it a reality."
The draft legislation was developed through close collaboration with the banking sector, and the Central Bank of Curacao and Sint Maarten. Minister Gumbs looks forward to providing a detailed presentation on the Basic Payment Account Law and engaging in a constructive discussion with Parliament on its importance and implementation.
https://www.sintmaartengov.org/news/Pages/Minister-Marinka-J--Gumbs-Advances-Access-to-Banking-with-New-Legislation.aspx
