Dominica has passed the Banking (Amendment) Bill, giving the ECCB new powers to oversee customer protection and complaint handling across banks.
Dominica: The Government of Dominica has announced that the Banking (Amendment) Bill, aimed at strengthening customer protection and improving complaint handling across the Eastern Caribbean Currency Union (ECCU), has been passed by Parliament. The Bill was passed on Tuesday, September 22, 2026.
A key change under the Bill is the addition of market conduct supervision to the Banking Act. The ECCB will now have authority to monitor banks’ conduct toward customers alongside its existing supervision of banking operations.
According to the Government, with the amendments, banks will be required to treat customers equitably, honestly and fairly, while establishing internal procedures for handling complaints in accordance with the ECCB Code of Conduct.
Moreover, the Bill provides for the establishment of an Office for Financial Market Conduct and Financial Inclusion at the ECCB to oversee compliance with consumer protection and financial education requirements.
While presenting the Bill at the House of Assembly on Tuesday, the Minister of Finance, Economic Development, Climate Resilience and Social Security, Dr. Irving McIntyre explained that the measures seek to safeguard consumers against unfair practices. He shared that the changes are also aimed at improving access to redress and ensuring more timely service from commercial banks.
It is our hope that the coming into force of this Bill will cause a significant improvement in the quality and timeliness of the service delivery at our commercial banks and have the rippling effect of contributing to improving the ease of doing business in Dominica, stated the Minister of Finance.
The Government of Dominica has informed that the Banking (Amendment) Bill bars banks from operating and dealing with shell banks. It also allows them to operate currency exchange services with ECCB approval.
According to the Government, prior to the amendments' approval, the ECCB Monetary Council had reviewed and approved the proposed changes before they were brought before Parliament.