GOCD header

Financial Services Unit

View the listing of Licensed Offshore Banks in the jurisdiction.

Welcome to the website of the Financial Services Unit of the Commonwealth of Dominica, the sole regulatory authority for the Non-Bank Financial Sector in Dominica and the Money Laundering Supervising Authority.

The authority of the Financial Services Unit (FSU), which is a department within the Ministry of Finance, covers the financial sector in Dominica with the exception of Commercial Banks and Securities Business.

The FSU is under the auspices of the Ministry of Finance and comprise of experienced professionals and is run on a day to day basis by a Director and a group of Examiners.

With the creation of the Financial Services Unit in 2008, supervision of the non-bank financial sector was significantly strengthened, an essential element in ensuring the safety and soundness of this sector. It is expected that as FSU develops an effective supervisory regime, consumer confidence will accordingly increase to the benefit of all concerned.

In 2011, the FSU under section 7 of the Money Laundering Prevention Act. No. 8 became the Money Laundering Supervisory Authority The Financial Services Unit aims to ensure that every financial institution conducts a risk assessment, whereby policies, procedures and controls can be developed as to prevent/ mitigate the ML/TF risks identified.

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 the Financial Services Unit therefore becomes even more significant.

I trust that all users will find the website useful and informative; and I invite you to visit it often since it will be kept updated with developments in the non-bank financial sector in the Commonwealth of Dominica and AML/CFT updates.