HISTORY

HISTORY

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.

MISSION

MISSION

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.

FUNCTIONS

FUNCTIONS

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.

Regulated Entities

Confidence and stability in the financial sector is critical for the development of the overall economy. This is of even greater importance in today's turbulent economic times and the role of GARFIN therefore becomes even more significant.

Credit Unions

Credit unions are regulated in accordance with the Cooperative Societies Act No. 8/2011.

Insurance Companies

There are twenty-six (26) companies licenced to conduct insurance business in Grenada.

International Companies

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.

Sector Statistics

0
CREDIT UNION SECTOR
(As at September 30, 2021)
0
CREDIT UNION MEMBERS
(As at September 30, 2021)
0
INSURANCE SECTOR
(As at September 30, 2021)
0
PENSION SECTOR
(As at September 30, 2021)

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