Parliament has passed the Banking (Amendment) Bill, 2026, introducing new measures to protect customers and improve how commercial banks handle complaints across the Eastern Caribbean Currency Union (ECCU).
A key provision adds market conduct supervision to the Banking Act. It gives the Eastern Caribbean Central Bank (ECCB) authority to oversee how banks treat customers, alongside its existing role in supervising banking operations.
Under the amendments, banks will be required to treat customers equitably, honestly and fairly, and to establish internal procedures for handling complaints in line with an ECCB Code of Conduct. The Bill also provides for an Office for Financial Market Conduct and Financial Inclusion at the ECCB to oversee compliance with consumer protection and education requirements.
Presenting the Bill to the House, Finance Minister Dr. Irving McIntyre said the changes are intended to protect consumers from unfair or misleading practices, improve access to redress and encourage more timely service at 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,” he said.
The legislation also prohibits banks from operating shell banks or maintaining correspondent relationships with them. It allows banks, with ECCB permission, to operate bureaux de change.
The amendments were approved by the ECCB Monetary Council before being brought to Parliament.
