The story
Beginning in 1893, a shortage of coins and banknotes in Curaçao led S.E.L. Maduro & Sons to issue money coupons, which remained in circulation until the introduction of the 1901 Coinage Act. Known as 'Maduro Money', the coupons were accepted as payment on the ABC islands for many years. By the early 20th century, however, growing industrialization following the discovery of oil in nearby Venezuela and the opening of the Panama Canal created demand for modern banking services.
On December 16, 1916, following a failed bid to take over the Central Bank of Curaçao, local financier Joseph "Shon Jojo" Alvarez-Correa, with financial backing from S.E.L. Maduro & Sons, established Maduro's Bank, the island's first commercial bank. In 1932, Curiel's Bank, which had been founded by members of the Curiel family and had grown out of the banking department of Morris E. Curiel & Sons, merged with Maduro's Bank to form MCB.
Since 1970, MCB has been affiliated with Scotiabank.
From Wikipedia’s article on Maduro & Curiel's Bank, shared under CC BY-SA 4.0.4