14 hours ago
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Geisha Kowlessar-Alonzo
Senior Reporter
The Central Bank of T&T (CBTT) has officially entered a transformative transition period, marking the final months of its current strategic cycle while simultaneously unveiling a bold vision for the next five years.
As the institution prepares to close the chapter on its 2021/22–2025/26 Strategic Plan, it has announced the forthcoming rollout of the 2026–2031 Strategic Plan, scheduled to take effect on October 1, 2026, the bank posted on its website yesterday.
This new roadmap is the result of extensive consultations with staff and external stakeholders, ensuring that the bank’s future policy and operational initiatives are directly aligned with modern economic realities and its core mandate of monetary and financial stability.
A centrepiece of this immediate transition is the Currency Transition Programme, which would see a significant shift in the nation’s physical tender.
By August 2026, the bank is set to circulate the new Series 2026 TT 100 dollar note, featuring the updated national Coat of Arms.
This rollout is supported by a comprehensive technical upgrade to the country’s cash-processing infrastructure.
To ensure a seamless transition for the public, a wide-scale educational campaign under the “Know Your Money” initiative would launch in mid-2026. Simultaneously, the bank is conducting a rigorous internal review of the five-cent coin.
With production costs currently estimated at nearly five times its face value, the bank is performing a detailed cost-benefit analysis to determine whether the denomination would follow the one-cent coin into demonetisation by the end of the year.
Beyond physical currency, the Central Bank is making aggressive strides in modernising the financial regulatory environment.
The bank has confirmed it is moving to fully operationalise an updated risk-based supervision framework across the banking and insurance sectors. This is bolstered by the implementation of the National AML/CFT/CPF Policy and Strategy (2026–2029), which strengthens compliance against money laundering and terrorism financing.
Furthermore, the bank said it remains committed to resolving long-standing financial matters, specifically progressing the liquidation of British American Insurance Company (Trinidad) Ltd (BAT) to ensure the continued protection of policyholders and the stability of the wider market.
The digital frontier remains a priority as the bank works to revolutionise the national payments ecosystem.
Significant legislative work is currently underway to finalise the Payments System and Services (PSS) Bill and Regulations.
This legal framework is designed to provide a robust foundation for financial technology innovation while protecting consumers.
The bank is already seeing the fruits of these efforts through the support of registered e-money issuers like WamNow Technologies, which are expanding digital service offerings across the country.
On a broader scale, the bank is looking toward regional integration by piloting the CARICOM Payment and Settlement System (CAPSS), a move expected to streamline cross-border transactions over the next twelve months.
The Central Bank is also embracing the future of regulatory technology with the commencement of its Supervisory Technology (SupTech) pilot phase.
By testing a specialised digital platform, the bank aims to modernise its internal processes through real-time risk monitoring and enhanced data analytics.
This pilot would validate how the bank collects and interprets data from regulated entities, paving the way for a full digital-supervision rollout.
The bank further explained that outcomes from the pilot would inform the implementation roadmap, user-training requirements, and the broader digital-supervision strategy designed to strengthen the bank’s risk-based oversight framework.
Among the bank’s key achievements over the past six months included
its expanded regional partnerships at the historic CAF – Development Bank of Latin America and the Caribbean, board meeting.
On October 10, 2025, Governor Larry Howai presided over the 186th Board of Directors Meeting of CAF marking the first time the institution convened its board in the English-speaking Caribbean.
English (US) ·