Curaçao races to approve gambling law amid international evaluation pressure

WILLEMSTAD – The Curaçao Parliament is set to expedite the review of the National Ordinance on Gambling (LOK), a move considered crucial as the island undergoes a rigorous evaluation by the Caribbean Financial Action Task Force (CFATF). Finance Minister Javier Silvania emphasized the importance of passing this legislation considering the ongoing Mutual Evaluation (MeVal), which assesses Curaçao’s compliance with international financial regulations and anti-money laundering standards. 

Since assuming office in mid-2021, Minister Silvania has prioritized the LOK, aiming to establish a stricter regulatory framework for the gambling sector. The urgency of this legislative process was highlighted in a letter from Silvania to Charetti America-Francisca, Chair of Parliament, ahead of the Central Committee meeting scheduled for today. The focus of the session is to finalize discussions on the LOK, paving the way for its swift approval and implementation. 

Dutch Parliament Involvement Sparks Debate 

The push for rapid legislative action comes amid growing pressure from the Dutch Parliament, where a motion to increase oversight of Curaçao’s gambling industry has sparked intense debate. The motion, spearheaded by Michiel van Nispen of the opposition party SP, calls for the Dutch government to engage with Curaçao and strengthen regulatory measures before the LOK is enacted. The motion has garnered support from Hanneke van der Werf of D66 and Ingrid Michon-Derkzen of the VVD, reflecting a bipartisan concern over potential regulatory gaps. 

However, this Dutch intervention has faced backlash, notably from the ruling PVV party led by Geert Wilders. Peter Van Haasen, a PVV parliamentarian, criticized the Dutch involvement, arguing that it could delay the implementation of the LOK. “Minister Silvania has spent two and a half years developing this new law, which is now before the Curaçao Parliament. Additional interference from the Kingdom would only hinder its timely enactment,” Van Haasen remarked, signaling a rare alignment of Dutch political factions in support of Curaçao’s autonomy in this matter. 

Strengthening Oversight for the Gambling Sector 

The new legislation seeks to overhaul Curaçao’s gambling sector, introducing stringent licensing requirements and enhanced supervision. The aim is to address longstanding concerns over money laundering and unregulated activities within the industry, which have drawn scrutiny from international bodies like the CFATF. By implementing the LOK, Curaçao hopes to meet international standards and safeguard its financial reputation. 

The upcoming parliamentary discussions will be pivotal, as the government pushes to finalize the law and demonstrate its commitment to transparency and regulatory compliance. The approval of the LOK is expected to mark a significant step forward in reforming the island’s gambling industry and ensuring greater accountability within this vital economic sector.

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Publish date : 2024-11-11 00:55:00

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