The Offshore Group of Banking Supervisors (OGBS) was formed in October 1980, at the instigation of the Basel Committee on Banking Supervision, as an association of the relevant authorities in jurisdictions identified at that time as “offshore finance centers”.
The objects of the Group are to cooperate with relevant international organizations in setting and promoting the implementation of international standards for cross-border banking supervision, and for combating money laundering and terrorist financing, to encourage members to apply high standards of supervision based on internationally accepted principles, to conduct mutual evaluations, to participate in the work of FATF and other international organizations, to improve international standards on combating money laundering and financing of terrorism, to continue an active work on implementation of FATF Recommendations and other relevant international standards.
The Group meets, as a rule, once a year. The Working Group on the Setting of International Standards for the Regulation of Trust and Company Service Providers was established within the OGBS.
Member states
- Aruba
- Bahamas
- Barbados
- Bermuda
- British Virgin Islands
- Cayman Islands
- Cook Islands
- Guernsey
- Isle of Man
- Jersey
- Labuan
- Macau, China
- Mauritius
- Netherlands Antilles
- Panama
- Samoa
- Vanuatu
Observers
- Antigua and Barbuda
- Eastern Caribbean Central Bank
Official site: http://www.ogbs.net
EAG Bulletin
EAG in the news
The Senate of the Parliament of Kazakhstan on Wednesday approved ratification the agreement on the Eurasian Group on Combating Money Laundering and Terrorist Financing."
The agreement has been adopted by Parliament and sent to the President in the form of the law.
The Senate of Oliy Majlis (the upper house of the Uzbek parliament) approved the law on "Agreement on the Eurasian group on combating money laundering and financing of terrorism" at the plenary session on Tuesday.