NASSAU, BAHAMAS — Opposition Leader Michael Pintard has accused the Davis administration of leaving banking reform on the “back burner,” allowing essential financial services in the Family Islands to deteriorate while residents are left scrambling to access their own money.
Pintard’s criticism follows the recent outcry from Progressive Liberal Party MP Leon Lundy, who condemned Bank of The Bahamas’ decision to drastically reduce operating days at its branches in Mangrove Cay and Kemp’s Bay. Lundy described the move as “a serious disconnect between decision-makers and the realities on the ground” and said it reinforced the perception that Family Island communities are being treated as an afterthought.
“We cannot and must not continue down this path of neglect,” Lundy stated. “South Andros and Mangrove Cay are vibrant, growing communities whose residents deserve the same access to essential services as anyone living in the capital.” He expressed deep frustration over the changes, adding that banking is not a luxury but “an essential service that underpins everyday life, from running small businesses to simply being able to access one’s own funds.”
Pintard, however, suggested the outrage from within the governing party was long overdue.
“For months, I have sounded the alarm on the worrying decline of banking services in our Family Islands,” he said. “Banking is not a luxury—it is an essential service. Yet this PLP administration seems paralyzed while the situation worsens before their eyes.”
He continued, “It is remarkable how quickly voices are raised when political pressure increases. But true leadership means acting before the crisis hits home—not just reacting after the fact. If you are serious about change, then step up and do something.”
Pintard reminded the public that the government is the majority shareholder in Bank of The Bahamas and therefore has both the authority and the responsibility to intervene.
“Enough talk—what we need is action,” he said. “The Bahamian people deserve a government bold enough to tackle the hard problems and smart enough to build lasting solutions.”
He outlined the Free National Movement’s approach to resolving the crisis: expanding partnerships with Bahamian-owned financial institutions, empowering local credit unions, establishing digital banking hubs with reliable internet support, and encouraging regulators to fast-track approval for innovative, community-based financial solutions.
Central Bank Governor John Rolle also addressed the issue during a press conference on Monday, acknowledging the difficulties in providing consistent banking services to communities spread across a geographically fragmented country.
“The Central Bank has a vested interest in ensuring that all of the residents have some access to financial services,” Rolle said. “And I think part of that is also helping the entire community to be able to access more financial services through the digital channels.”
While continuing to promote the digital Sand Dollar currency, Rolle admitted that adoption—particularly in the Family Islands—remains slower than anticipated.
“We still have a lot of ground to cover,” he said. “A lot of the outreach in the Family Islands continues to be educational.” He highlighted limited success in certain communities where employers are now using Sand Dollar wallets to pay employees, saying, “We are beginning to see some of that, but we do have more work to do in terms of the outreach in the southern Bahamas.”
Rolle also acknowledged widespread frustration with traditional banks and the pace of service.
“They want to see better service-level response from financial institutions,” he said. “We are not going to be able to distance ourselves from the fact that it is very costly to provide financial services in The Bahamas. This is a country of 400,000 people. We sometimes overlook that fact.”
To address those service delays, Rolle explained that the Central Bank is pushing ahead with a nationwide “fast payments” system aimed at enabling near-instant transactions between bank accounts and digital wallets.
“We are positioning the entire payment system for instant payments or fast payments,” he said. “Whether an account is in a bank or an existing digital wallet, a retail payment at the point of sale can be made and settled instantly.”
