by Linda Straker
- Reconstituted CBI board published in 22 July issue of Government Gazette
- All Government boards are being reconstituted
- Over 1,700 expressions of interest received
Former banker Richard Duncan is the chairman of the reconstituted Grenada Citizenship by Investment (CBI) committee. The Cabinet of Ministers agreed to the change during its 18 July 2022 meeting, and it was published in the 22 July issue of the Government Gazette.
The former CBI chairman was the Permanent Secretary in the Ministry of Finance Mike Sylvester.
In Grenada’s General Election on 23 June 2022, a new government was elected to administrate the affairs of the country for the next 5 years. The reorganising of government boards is among some of the first tasks for the Cabinet of Ministers.
Under the previous administration, Duncan served as the first chairman of the Fiscal Responsibility Oversight Committee (FROC), which is responsible for monitoring compliance with the fiscal rules and targets as stipulated in the Fiscal Responsibility Act.
Prime Minister Dickon Mitchell is the minister with responsibility for citizenship. The Chairman of the CBI Committee shall keep the Minister fully informed of the business of the Committee and shall furnish the Minister with such information as the Minister may request with respect to any particular matter relating to the business and activities of the committee.
The other members of the re-organised CBI board are Deon Moses who will serve as Deputy Chairman; Daisy Joseph-Andall, Ronald Theodore; Dr Wayne Sandiford, and Dr Stephen Fletcher. They “shall hold office for a period of 3 years unless sooner determined,” said the official government publication.
According to the 2013 Citizenship by Investment legislation, the Minister shall establish a Citizenship by Investment Committee which shall be responsible for processing any application for any licence under the Act, and any application for Citizenship by Investment or Permanent Residence by Investment.
The committee shall be comprised of persons of integrity who are qualified and have the necessary experience and capacity in matters relating to law, finance, trade, and other relevant areas. Since the law came into effect in August 2014 more than 6,000 people have gained citizenship through the programme.
During the post-cabinet briefing on 19 July 2022, Prime Minister Dickon Mitchell announced that all government boards are being reconstituted. The ruling National Democratic Congress (NDC) administration put out a notice asking members of the public to submit their expressions of interest via a government portal.
The Prime Minister said that over 1,700 applications representing people locally, regionally, and internationally were submitted. He said that all individuals who submit applications will not be appointed to be on a board, but some may be identified to serve on Committees.