The Executive Council held a high-level engagement with Peter Jacobs, Chief Executive Officer of ING Bank, at the institution’s headquarters in Amsterdam. The meeting focused on ING’s roadmap for extending banking services to the islands of Statia and Saba.
In April of this year, ING expressed its intention to offer banking services to the Caribbean Netherlands. The bank is currently conducting a comprehensive feasibility assessment to determine the viability of this expansion. Key elements of this assessment include the difference in currency between the European Netherlands (euro) and the islands (US dollar), as well as the applicable regulatory and supervisory frameworks. A final decision is expected in the course of 2026. If the outcome is positive, ING anticipates launching its services by the end of that year.
During the session, the Executive Council was briefed on ING’s plans, expectations, and the strategic steps being taken to facilitate the introduction of their services in the Caribbean Netherlands. The Statia Government expressed its full willingness to support the bank’s efforts and highlighted the importance of ensuring financial services are accessible, efficient, and responsive to the needs of island residents.
Following the discussion, the delegation received a live demonstration showcasing the ease and speed of ING’s digital onboarding process. Using only a mobile phone, the team witnessed an account being opened in under fifteen minutes completely online and without paperwork or a physical teller.
As Statia continues its path of development, access to modern financial services remains a cornerstone for economic growth and social mobility. The Statia Government warmly welcomes this development and looks forward to a fruitful partnership that enhances financial inclusion and strengthens the local economy.