MasterCard eyes Out Island tie-up with credit unions
MASTERCARD wants to introduce its payment technology in the Family Islands via partnerships with Bahamian credit unions, its executives said yesterday, targeting unbanked and under-served communities. Juan Zavala Aleman, MasterCard’s manager of acco
Credit union consolidation predicted by Central Bank
Small Bahamian credit unions will be forced to merge and consolidate as a result of intensified regulation, the Central Bank is predicting.The regulator, in its just-released 2018 Financial Stability Report, said it was increasing oversight of the se
Tourism tie-up produces 678k extra room nights
The Ministry of Tourism is attributing a 678,310 increase in group meeting room nights to its partnership with Cvent, an events and hospitality management technology company. The first year of their tie-up saw group bookings for meetings increase by
Chinese researchers meet BAIC managers
Chinese agricultural researchers met with the Bahamas Agricultural and Industrial Corporation’s (BAIC) chairman and executive management on Friday. Tong Xiongcai, vice-president of Hunan Academy of Agricultural Sciences, paid a courtesy call on Bish
Mastercard seeks 'change in mindset' with payments
MASTERCARD yesterday said it is hoping that a “change in mindset” will lead to greater Bahamian take-up of its solution for micro and small businesses in cash-dominated industries. Juan Zavala Aleman, Mastercard’s manager of account management, said
PM: Credit unions key to helping 'unbanked'
The prime minister has urged Bahamian credit unions to play “an essential role” in delivering financial services to unbanked communities in the Family Islands.Addressing the World Council of Credit Unions and Caribbean Confederation of Credit Unions
Business optimism up but profits fall for 57%
Despite 57 percent of businesses suffering a decline in first-half profits, a Central Bank survey has found that nearly-two-thirds believe the economy will improve during 2019’s final months.
Bank boss warns: we must act on jobless
The Bahamas must “aspire to higher” GDP growth rates in the two to three percent range if it wants to see “new jobs gushing rather than trickling”, the Central Bank’s governor is urging.
Cut 'terrifying' bad loan rate by over 50%
The Central Bank’s governor wants to further cut the “terrifying” 8.7 percent loan delinquency rate by more than half despite it having fallen to its lowest level in a decade.While describing the consistent decline in non-performing bank loans as “ve
Caps, no interest paid on digital B$
The digital Bahamian dollar will be non-interest earning with accounts capped at a certain amount to protect the financial system’s stability, the Central Bank’s governor has revealed. John Rolle, in a briefing on 2019 first half economic developmen
'Early fall' target to ease property deals
The Central Bank is targeting “early fall” for simplifying exchange control’s involvement with foreign residential real estate purchases as a means to eliminate unnecessary red tape.John Rolle, its governor, confirmed during a briefing on 2019 first
Compliance officers meet on EU data rule's impact
Bahamian compliance officers met for a half-day seminar to discuss how new European data protection rules will impact the sourcing and safeguarding of client information.The European Union’s General Data Protection Regulation (GDPR), which came into
Skilled workforce is 'critical for tech hub
Transforming Grand Bahama into a “technology hub” involves far more than attracting investors, a Cabinet minister has conceded, with developing a skilled workforce “a critical part” of its plans.Senator Kwasi Thompson, minister of state for Grand Ba
Bahamas must avoid 'undue WTO missteps'
The Bahamas must carefully examine the “many complex challenges” presented by the World Trade Organisation (WTO) to avoid any “undue missteps” in joining, a governance reformer is urging. Robert Myers, the Organisation for Responsible Governance’s
Bahamas marketed at largest aviation event
The Bahamas had a strong presence at the world’s largest general aviation show in a bid to attract more private pilot visitors to the destination. The Ministry of Tourism and Aviation was out in full force at the 2019 Experimental Aircraft Associati
