DNB and US dollars on Bonaire, St Eustatius and Saba
DNB brings US dollars into circulation on the islands of Bonaire, St Eustatius and Saba that together form the Caribbean Netherlands. The US dollar has been the legal tender here since 1 January 2011. The three islands have been public bodies within the Dutch constitutional system since 10 October 2010. They opted to adopt the US dollar as legal tender, rather than the euro. With good reason. The islands' imports and exports are for instance primarily from and to countries using the US dollar or a pegged currency, and the majority of tourists visiting the islands come from US dollar using countries.
DNB and payments in the Caribbean Netherlands
DNB is responsible for ensuring an effective payment system in the Caribbean Netherlands. DNB brings US dollar banknotes and coins into circulation and monitors their quality. DNB is committed to ensuring a secure and reliable payment system:
- promoting electronic payments
- discouraging the use of cheques.
DNB and supervision in the Caribbean Netherlands
DNB also supervises financial enterprises in the Caribbean Netherlands together with the Netherlands Authority for the Financial Markets ( AFM) the Centrale Bank van Curacao en St Maarten ( CBCS ). There are three types of supervision: prudential supervision (solvency and liquidity), integrity supervision and behavioural supervision.
DNB on Bonaire, St Eustatius and Saba
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