Global Bank of Commerce (GBC) no longer appears on the official list of regulated banks in Antigua, sparking concern among clients and the public. The move raises questions about the bank’s status, oversight, and what it means for depositors.

In recent years, GBC and its CEO, Brian Stuart-Young, have been involved in legal disputes, most notably with investor Jack Stroll, to whom a court ordered payment of 10 million US dollars. The bank claims it has paid over 19 million US dollars to Stroll, leaving less than 350,000 dollars outstanding. Critics, however, argue that the payments were made in Eastern Caribbean dollars rather than U.S. dollars as required.

Regulators and civil society are asking why the Financial Services Regulatory Commission (FSRC) has not publicly addressed GBC’s removal from the regulated bank list. Some see this as a failure of oversight, especially given the bank’s long history in Antigua and its claim to be fully licensed under the International Business Corporations Act.

The situation highlights risks in the financial sector, particularly for depositors and investors. It also tests Antigua & Barbuda’s regulatory framework and commitment to transparency and stability.