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Central Bank expands reach in Tobago

Wednesday, May 28, 2014

The Office of the Financial Services Ombudsman (OFSO) has a new home in Tobago. It is located on the second floor of the Caribanna Building, Bacolet Street, Scarborough. Speaking at the official opening of the new office on Monday, Central Bank Governor Jwala Rambarran said it represents a rite of passage as well as the bank’s desire to expand its reach and presence to as many communities as possible throughout the country.



“It has been my desire to see the Central Bank come out of, as some would say, its ivory tower in Port-of-Spain and interface with the citizens we serve. For the Office of the Financial Services Ombudsman, this place is a physical symbol of its growth in operations under the current Financial Services Ombudsman,” he said. Rambarran said the initiative was also consistent with the Central Bank’s move to upgrade T&T’s existing regime of financial consumer protection in line with international best practice


“We are rapidly advancing the process of the OFSO attaining greater powers and this is being done through a policy proposal which relates to changing the voluntary nature of the Financial Services Ombudsman regime to one underpinned by legislative authority. 



“So as we advance the OFSO on many fronts.. the opening of this office is also advancement. It provides a more visible presence for the OFSO in Tobago. In Trinidad the OFSO's offices and operations are in the confines of the Central Bank, so this is indeed a special first for Tobago and the OFSO,” Rambarran said Tobagonians will be able to access the services of the Financial Services Ombudsman on the second and fourth Wednesday of every month.


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