In the sections that follow, we outline the strategic direction the Grenada Financial Regulatory Commission (GFRC) aims to pursue in the short to medium term. Effective planning and organization are crucial for the success of any entity, and here we articulate the Vision, Mission, Key Outcomes, values, behaviors, and corporate objectives we strive for. Our challenge lies in developing and implementing strategies that will enable us to meet these goals. The GFRC team is fully aware of the significant advantages a well-managed and expanding Financial Regulatory sector can offer Grenada, and we are collectively dedicated to realizing this potential.
Message from the Chairlady, Mrs. Moli Vanaos Goiset Thi Tam:
Within these pages, we delineate the overarching strategy the Commission will adopt in the forthcoming period. Sound planning and organizational structures are pivotal for any institution's success. Accordingly, we have defined the Vision, Mission, desired Key Outcomes of the Commission, along with our values, behaviors, and corporate aims. Our task is to forge and enact suitable strategies to fulfill these ambitions.
We, at the Commission, understand the considerable benefits a robust and burgeoning Financial Regulatory sector can bestow upon Grenada. Our commitment to this cause is unwavering.
Our Vision is:
To see Grenada’s Finance Centre become internationally acclaimed as well-regulated and a preferred jurisdiction for conducting business.
Our Mission is:
To regulate and supervise Grenada’s Finance industry effectively and efficiently in accordance with government legislation and international standards, thereby establishing Grenada as home to a reputable and commercially attractive Finance Centre.
Desired Key Outcomes:
➣ Grenada’s Finance Centre should be internationally acknowledged for its robust regulation by us and for being commercially appealing and a preferred business jurisdiction.
➣ Legislative framework that fosters best practices and innovation, ensuring Grenada’s finance sector legislation mirrors international best practices and welcomes modern financial solutions.
➣ A productive working relationship between the Commission and the Finance Centre, characterized by constructive consultation on necessary reforms and fair, efficient regulation.
➣ A fair and substantial contribution to government revenues through fees and charges collected from the Finance Centre.
Our corporate objectives include:
➣ Fostering teamwork to enhance our outcomes by acknowledging and appreciating everyone's unique roles within the Commission and collaborating for the best results.
➣ Delivering superior customer service by meeting clients’ needs and treating all customers equitably.
➣ Developing and optimizing our staff to ensure they are qualified, skilled, and have the necessary expertise/technical knowledge. We aim for adequate staffing levels in each of our core functional areas.
➣ Rapidly updating legislation governing the finance center to ensure it is comprehensive, current, and that our administrative jurisdiction is recognized for its excellence.
➣ Leveraging technology to enhance services by moving operations online and adopting technologies that promote online client services.
➣ Enhancing industry compliance through strategies that guarantee a high compliance level.
➣ Internationally promoting the finance center through effective mechanisms for global outreach.