Financial Services Commission | Sustainability Through Corporate Governance

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Sustainability Through Corporate Governance – Gaps, Challenges and Goals

Strong corporate governance is essential for the sustainability and resilience of financial institutions. In Barbados, credit unions play a vital role in supporting communities and safeguarding members’ savings. As this sector continues to grow, so too does the need for modern governance practices that ensure accountability, transparency, and sound decision-making.

The presentation, “Sustainability Through Corporate Governance: Gaps, Challenges, and Goals,” was developed by the Financial Services Commission (FSC) to highlight the importance of governance within the credit union sector. It explores common challenges, outlines best practices, and sets out goals for strengthening governance frameworks to maintain stability and protect stakeholders.

What You’ll Learn:

Why corporate governance matters and how it impacts financial stability.
The roles and responsibilities of credit union boards.
Key features of the FSC’s Corporate Governance Guideline.
Common governance challenges and how they can be addressed.
The importance of independence, ethics, and fitness in leadership roles.

Why This Matters

With nearly every household in Barbados connected to the credit union sector, maintaining strong governance is critical. It protects members’ savings, builds trust, and ensures that financial institutions operate responsibly and transparently.

This resource provides valuable insights for board members, management teams, regulators, and anyone interested in understanding the frameworks that support the health of the financial system.