NASSAU, BAHAMAS- The Central Bank plans to collaborate with local commercial banks as part of its 2024 engagement strategy and leverage their existing customer base to boost the adoption of the Sand Dollar in the country executives said yesterday. They also noted that in the past several, there have been discussions with the government on […]
Central Bank notes most fraud attempts were for small sums NASSAU, BAHAMAS — Domestic banks reported a fourfold increase in fraud attempts 2020, although there was a 64 percent decrease in actual fraud occurrences, the Central Bank has reported. In its recently released summary of its analysis of the AML Data Returns submitted by banks […]
NASSAU, BAHAMAS — The Central Bank said yesterday it is working with the money transmission sector to better refine risk classifications, noting that such entities have historically under-graded some of their customer risks. In a recently released summary of its analysis of the AML Data Returns submitted by banks and trust companies, co-operative credit unions […]
Central Bank governor says Littrell’s comments do not reflect the institution NASSAU, BAHAMAS — Central Bank Governor John Rolle said yesterday that the regulator is “very sympathetic” to the concerns customers have around banking fees and the quality of financial services in general. The regulator’s top inspector, Charles Littrell, told attendees of a Bahamas Institute […]
“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 […]
Regulator says interest rate changes are incentive for depositors to shift funds to higher-yielding placements in banking system “The Central Bank does not ordinarily comment publicly on such business decisions, neither would it be appropriate to do so” NASSAU, BAHAMAS — The Central Bank said yesterday that it is actively committed to developing a government […]
NASSAU, BAHAMAS — The short-term rental market showed improvements during the month of April, supported by domestic demand, with total room nights sold increasing by nearly 40 percent. According to the Central Bank’s Monthly Economic and Financial Developments report for April, data provided by AirDNA showed improvements during the review month, supported by domestic demand. […]
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 […]
