The Board of financial supervision Aruba (CAft) has a monitoring and advisory role. The functions of the Board are focused on the adoption and execution of budgets that are balanced within the agreed limits, and on the control of the totality of all loans.
In order to ensure the best possible execution of the financial supervision, the Board requires insight in the budget cycle and the financial management of the country. The Board evaluates the adopted budget against the standards of the the National Ordinance on Aruba temporary financial supervision and provides advice if necessary. The Board may offer both solicited and unsolicited advice on the draft budget. Unlike the other countries, for Aruba a financing balance norm is applicable, which is the budget balance minus the repayment of the public debt.
Age F.P. Bakker (1950) is chairman of the Board of financial supervision (College financieel toezicht - Cft). He is emeritus professor of Economics at the Vrije Universiteit and former director at the International Monetary Fund (2007-2011). He studied at the Vrije Universiteit, the University of Amsterdam and Stanford University. Prof. Bakker has extensive managerial experience in the area of economic policy. He has combined a career at the Netherlands Bank (1976-2006) for quite some time with the crown membership of the Social Economic Council (1994-2006) and the professorship at the Vrije Universiteit (1995-2014). Currently he is holding a number of managerial positions in addition to the Chairmanship of the Cft, including at the Nederlandse Waterschapsbank and the pension fund Zorg en Welzijn. Furthermore he endeavors to develop a future vision for European integration and development cooperation; he was inter alia a member of the Expert Group on Financing for Development of the OECD. In the social field, he is closely involved in the promotion of literature and fine arts. Additional functions
Member upon proposal of Aruba
Robert W. Croes Sr. (1944) is member of the Board of Financial Supervision of Aruba (College Aruba financieel toezicht - CAft) upon proposal of Aruba, effective August 1, 2015. As an entrepreneur for over 50 years he has served on Management and Supervisory Boards of diverse businesses, ranging from distribution, retail, manufacturing, advertising, printing and publishing in Aruba, Curaçao and Saint Martin. Besides having a Bachelor’s degree in business he also holds a Master’s degree in Public Administration and Organizational Science from the University of Utrecht.
He has served his community amongst others as: member of the Lions Club of Aruba for over 42 years, where he was active on the various committees as well as on the Board and as President; Board member of the Netherlands Red Cross, division Aruba; Board member and President of the El Sol Charitable Society; member of the Aruba National Platform ‘Y2K’ and Aruba National Platform ‘Calidad’.
He is a Free Mason and as such has served in various Masonic organizations as member of the Board as well as Chairman. He served as Board member and as President of the Chamber of Commerce of Aruba as well as of the Aruba Trade and Industry Association. Presently he serves on the Supervisory Boards of Antraco Holding Company N.V., Aruba Bank N.V., Orco Aruba Holding N.V., Orco Bank N.V., Orco International N.V. and is Managing Director of Maruba Investments Inc. Additional functions
Member upon proposal of the Netherlands
As of July 1st, 2012, Sybilla M. Dekker (1942) is member of the Board of financial supervision upon proposal of the Netherlands. She has ample governmental and political experience. She is the former Minister of Public Housing and Regional Planning and Environment Management – from May 2003 till October 2006 (Balkenende II and III administration). In the Caribbean part of the Kingdom she is mostly known for her role as president of the Council of supervision of AMFO; the Antillean Co-financing Organization. She will no longer carry out this function, which she has been executing since 2007.
In addition to her activities for the Board, Ms. Sybilla Dekker will remain closely involved as director of various social organizations (such as the ‘Residentieorkest ‘ and the Maritime Museum). She will also remain committed to stimulate leadership and emancipation of women and minorities on the labor market. As such she is the president of the Taskforce and Foundation “Talent naar de Top” and member of the Advisory Board of the Dutch-Moroccan leadership institute. Ms. Dekker has seated in various corporate supervisory boards (AKZO-Nobel NL, the ‘Nederlandse Spoorwegen’ and Heineken Netherlands B.V.), she was a member of the Advisory Board of ABN-AMRO Holding and a member of the Board of Management/Supervisory Council of the Rabobank Nederland. Currently she is amongst others member of the Supervisory Council at the ‘Bank Nederlandse Gemeenten’, Royal HaskoningDHV and President of the Supervision Council of Kadaster. Additional functions