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Persaud to chair FSC

ERIC SMITH, [email protected]

Persaud to chair FSC

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The Financial Services Commission (FSC) has a new chairman.

Well-placed sources on Sunday said that Avinash Persaud, a member of Prime Minister Mia Amor Mottley’s economic team, is chairing the board of directors of the key regulatory agency for non-banking financial services.

However, the appointment has reportedly not met universal approval amongst some of the credit unions and insurance companies which the FSC regulates.

It had been anticipated that Persaud, an economist, would have been appointed to the board of the Central Bank of Barbados.

Persaud replaces Sir Frank Alleyne, who served as FSC chair under the previous Democratic Labour Party administration. (ES)