The Governments of Barbados and the United Kingdom have signed an Asset Sharing Agreement, which bolsters international cooperation between the two countries on asset forfeiture from criminals to deprive them of the profits of their crimes.
The agreement provides that where one country has helped the other in facilitating a forfeiture or confiscation of assets in criminal or civil proceedings, such assets may be shared between the countries.
The agreement was signed by Attorney General Dale Marshall and British High Commissioner to Barbados and the Eastern Caribbean, Scott Furssedonn-Wood.
In a brief signing ceremony, the British High Commissioner said: “I am delighted to sign this historic agreement which recognises the longstanding cooperation between the United Kingdom and Barbados in the field of mutual legal assistance and can be expected to serve as a useful tool for asset recovery and sharing in the future.”
Attorney General Marshall said: “The signing of the Agreement is the culmination of years of hard work and cooperation and illustrates how countries can come together to agree upon good practices and approaches for the return of proceeds of assets and their use to advance development and benefit citizens.”