The next generation
Finext Eastern Bank (FEB) is a fully-licensed financial institution in the Commonwealth of Dominica, with a full & offshore banking license (reg no 2013/C2892). Dominica is an island nation in the Caribbean Sea, a parliamentary democracy within the Commonwealth of Nations, with its capital, Roseau, located on the western side of the island. The country has become an international financial hub in recent years, with the largest sectors, including offshore banking, payment processing, and general corporate activities.
Regulation and supervision of the financial services industry is the responsibility of the Financial Service Unit of the Commonwealth of Dominica (FSU) under the supervision of the Ministry of Finance. FEB operates in strict compliance with the FSU, regulated by the Offshore Banking Act 1996 as amended and supplemented over the years. We incorporate guidelines from the US Patriot Act in conjunction with the legislation outlined in the Offshore Banking Act.
FEB is 100% owned by the patriarch of an Asian family office based in Southeast Asia and offers all traditional corporate & investment banking services globally. It is the personification of the traditional Asian values of trust and loyalty, married with today’s latest financial technology.
The Group’s Total Assets and Equity were US$80.6 million and US$20.8 million, respectively. As of 2021, FEB consists of 88 talented employees and partners based in Asia and South America.
Finext Eastern Bank’s compliance program is robustly designed to identify and control the risk of compliance failure that could result in financial and reputational damage to FEB or to meet and adhere to regulatory requirements and standards.
The role of Compliance is to identify, assess, advise on, communicate, monitor, and report on FEB’s compliance with regulatory requirements. Policies and procedures for effective compliance are based on the Offshore Banking Act 1996 of the Commonwealth of Dominica in addition to regulations found in (including subsequent amendments):
- Money Laundering (Prevention) Regulations S.R.O. 4 of 2013
- Anti-Money Laundering Guidance Notes (Revised Edition) 2013
- Proceeds of Crime Act S.R.O. 10 of 2014
- Offshore Banking Act 1996 & Amendments
- Money Laundering (Prevention) Act 8 of 2011
- Financial Services Unit Act 18 of 2008
- Suppression of the Financing of Terrorism Act 3 of 2003
FEB takes regulatory compliance with paramount importance. Our robust measures and policies are reviewed quarterly and monitored 24/7 to ensure FEB is a diligent and responsible member of the global financial services community.
ASIAN FIRST, WORLD CLASS.
We provide bespoke solutions to help our corporate clients facilitate commerce and finance across some of the most dynamic markets in today’s Asian economy.