Memoranda of Understanding
To advance the development of the economies and peoples of the entire Caribbean region, educational programmes must be expanded and enriched wherever possible.
That's why CIBC FirstCaribbean has cultivated education partnerships throughout the Caribbean through Memoranda of Understanding (MOUs). These MOUs help our Bank to positively contribute to the sustained growth and development of a vibrant, efficient and effective banking and financial services sector in the region.
This stimulates and supports business development, inter-regional and international trade and better positions our Caribbean community to compete in a global market.
At present, CIBC FirstCaribbean has MOUs with:
The University of the West Indies:
The MOU covers several areas of collaboration including:
- The advancement of knowledge and the understanding of issues affecting business, trade and financial services in the Caribbean context
- Support and development of UWI students from around the region through scholarships and assisting young graduates in the transition from University
- Enhancing research in Banking and Finance
CIBC FirstCaribbean and the UWI agree that a very important contribution can be made to Caribbean development if a research culture can be fostered in the region that brings together the interests of University academics with those practicing in the field.
Both parties have agreed to promote the conduct of research on issues of importance to the banking and financial services sector. CIBC FirstCaribbean continues to provide funding to support this research which is awarded on a competitive basis to researchers on all three campuses of the UWI.Junior Achievement Worldwide
Both CIBC FirstCaribbean International Bank and Junior Achievement Worldwide are committed to fostering the development of young people in the Caribbean. Therefore, it's no surprise that, in May 2008, the Bank signed a four-year Memorandum of Understanding with the global organization to the tune of US$204,000.
As a Caribbean bank, we recognise that with changes in the global economy and its impact on fledgling regional economies, young people in the Caribbean will face a number of challenges. These include finding increased and viable avenues for business development in order to survive and thrive within this structure.
Through our partnership with Junior Achievement Worldwide, CIBC FirstCaribbean will help the organization continue to combat unemployment in the Caribbean through early intervention.
CIBC FirstCaribbean International Bank and Youth Business International are committed to fostering an entrepreneurial spirit among young people in the Caribbean region. By teaching our youth the fundamentals of business, we meet the challenge of youth poverty and unemployment head on.
Our Bank has signed a Memorandum of Understanding to the tune of US$350,000 with Youth Business international, operating under the administrative body of the Caribbean Group of Youth Business Programmes.