Who needs money to buy, for example, a car or a refrigerator, will find it banks or financial companies that provide credit. For buying a house, money can be borrowed as well in the form of a mortgage. To protect the interests of all residents, since July 1st new laws and regulations have been introduced that banks and financial institutions must adhere to.  

Who borrows money must usually repay in small amounts per week or month. In addition interest must also be paid on the borrowed money. Borrowing money costs money.


The companies that want to lend money to you, must make sure that you will not end up with money problems if you borrow (even more) money. The bank or credit institution requires information about your financial situation; they should ask you this before they decide whether you can lend money. If you already have debts, it may happen that you cannot borrow more money, otherwise you can get in big trouble. It is for your own protection that banks, loan companies and other lenders are cautious about lending money.

Since July 1st the Financial Markets Authority (AFM) checks whether the lenders themselves observe the rules. They do this to protect you.

Honest business

Banks and other financial businesses must also be careful with your money in order to remain financially sound and honest. It is especially important in this kind of business that they do not go bankrupt because they have all kinds of loans and savings of other people under their care. The Central Bank of Curacao and St. Maarten (CBCS) and De Nederlandsche Bank (DNB) check whether the financial companies are healthy and can continue to be.

That is very important for you as a customer. If necessary, the DNB will take action in order to protect your interests. This may mean that some financial companies that are not financially sound, will have to stop and properly handle all pending matters. Sometimes nothing seems to be the matter with a financial company, it still may be necessary to intervene on time, to ensure that, for example, there is enough money to handle all cases.

Financial companies must ensure that they do business fairly and that they are not used for shady activities such as money laundering, fraud or corruption. Furthermore, banks and other financial institutions need to be licensed by the AFM or DNB to be active in the Dutch Caribbean. Without that license, they are illegal and should not accept savings or lend money.

For more information check out: