GARFIN is referred to as the Single Regulatory Unit or SRU for the non bank financial sector. The GARFIN Act consolidated supervision of the non bank financial sector under one Authority.
To promote and maintain public confidence in, and the integrity of the financial system in Grenada through the effective regulation and supervision of designated non-bank financial institutions.
GARFIN is responsible for regulating and supervising the non-bank financial sector in Grenada with specific responsibility for the administration of a impressive slew of legislation.
Credit unions are regulated in accordance with the Cooperative Societies Act No. 8/2011.
There are twenty-six (26) companies licenced to conduct insurance business in Grenada.
Eight (8) Registered Agents act as intermediaries for incorporation/registration of IBCs.
Money Service Businesses
Money Services Businesses are non-financial businesses that transmit or convert money.