open banking (65) offshore banking (36) sib (35) ife (17) standard international bank sibank sib account 标准国际银行 us accout international financial entity
Dear Valued Clients,
We want to inform you of a significant development in the ongoing process of Standard International Bank’s (“SIB”) receivership and liquidation. The final Permanent Receivership and Liquidation Order from the Puerto Rico Office the Commissioner of Financial Institutions (“OCFI”) was finally notified on August 25, 2023, marking a crucial step toward resolving our financial affairs.
As part of the liquidation process, we are finalizing the liquidity and waterfall analysis to determine the projected loss for depositors to initiate the corresponding disbursement of funds to our clients. Our target is to commence the disbursement and the closing of accounts on October 1st, 2023, and ensure a smooth and efficient distribution of the available funds in accordance with OCFI’s order.