Most loan denials were due to high debt service ratios, underemployment and insufficient time on the job NASSAU, BAHAMAS — Banks saw a 25 percent increase in loan applications processed over the first half of the year compared to the same period in 2020, according to a Central Bank consumer lending survey. The results of […]
“We are going to be focusing on making an aggressive push to get more businesses enrolled in the infrastructure” NASSAU, BAHAMAS — The Central Bank estimates that in excess of 20,000 individuals are currently utilizing Sand Dollars, with “north of $300,000” of the digital currency currently in circulation. Central Bank Governor John Rolle yesterday noted that […]
NASSAU, BAHAMAS — Some $5.2 million in payment fraud complaints were made in 2020, the Central Bank of The Bahamas has revealed, with debit cards amounting for nearly 70 percent of those cases. The bank and trust company regulator’s 2020 annual report revealed that the total number of reported fraud cases processed by commercial banks for […]
“So far, only the stopover market has benefited from tourism restart” NASSAU, BAHAMAS — Total foreign arrivals fell by nearly 80 percent in March, extending the nearly 60 percent decline in the same period last year, the Central Bank has reported. According to the Central Bank’s Monthly Economic and Financial Developments report for March, total […]
But he notes govt will have “significant” financing needs going forward NASSAU, BAHAMAS — The country’s foreign reserves to date stand at a “comfortable” $2.26 billion, the Central Bank revealed yesterday, noting that demand for foreign exchange, mainly for imports of goods and services, has dropped by 14 percent. According to Central Bank Governor John […]
NASSAU, BAHAMAS — Private sector appetite for credit was “sharply scaled back” over the second half of 2020, with loan requests dropping by nearly 60 percent due to the economic downturn as a result of the COVID-19 pandemic, according to the Central Bank. Central Bank Governor John Rolle, while commenting on the regulator’s Monthly Economic […]
NASSAU, BAHAMAS — The Central Bank has committed to work with the Ministry of Finance to establish a government savings bond scheme for small investors, according to Central Bank Governor John Rolle. Addressing the Bahamas Business Outlook yesterday, Rolle said increased savings would expand the resources available for investment in business, infrastructure and growth. “For […]
NASSAU, BAHAMAS — Total foreign currency inflows through the private sector in 2020 fell by almost 33 percent, according to Central Bank Governor John Rolle, who noted that a further drawdown on the country’s foreign reserves is expected over the first half of this year. Rolle, who addressed the Bahamas Business Outlook yesterday, noted that […]
