Trinidad and Tobago finance minister Larry Howai tells Silvia Pavoni about his plans for the country's international finance centre, and explains why its improving legislative framework and educated workforce make the country stand out from its Caribbean peers.

The governor of Trinidad and Tobago's central bank, Jwala Rambarran, has overseen a hectic period in which the country has considerably tightened its supervision procedures, sought to clarify the role of its international finance centre and developed its capital markets. He tells Silvia Pavoni how improving financial inclusion is his next priority. 

Trinidad and Tobago’s plans to develop an international finance centre hold great promise, but what hurdles does the country face to achieve its goal?

Trinidad and Tobago has much to do to improve its business climate in the non-energy sector, but the Caribbean country already has ambitious plans, which include developing its maritime economy.

With an average GDP per capita higher than any other country in Central and South America, Trinidad and Tobago has built its economic might on the back of its oil and gas resources. However, the Caribbean country is now looking to diversify its economy, and key to this is the establishment of an IFC.

If Scotland opts for independence from the rest of the UK later in 2014, the latter would be likely to get custody of banks.