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Fewer mortgage commitments in Q1, notes Central Bank
Fewer mortgage commitments in Q1, notes Central Bank
The financial uncertainty attached to the COVID-19 pandemic has spilled over into homeownership, with the Central Bank of The Bahamas (CBOB) reporting a 16.3 percent decrease in mortgage disbursements for new construction and repairs during the first quarter of 2020. During the first quarter of [...]
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Central Bank announces further reforms to relax exchange control
NASSAU, BAHAMAS — The Central Bank has announced further reforms to relax Exchange Control Administration, aiming to enhance efficiencies for residents and work permit holders. The regulator revealed that these measures will take effect on April 1, 2024, except for those impacting the Investment Currency Market (ICM), which will be implemented on June 1st, 2024. [...]
Central Bank issues alert over consumer loan scam
Central Bank issues alert over consumer loan scam
NASSAU, BAHAMAS — The Central Bank is cautioning the public to avoid falling victim to fake internet ads and social media posts offering loans and other financial services purportedly from the Central Bank of The Bahamas. The regulator, in a notice on the consumer loan alert scam, warned that links associated with these posts should [...]
Central Bank Governor: NIB Rate Increase Won't Drag Economic Growth
NASSAU, BAHAMAS - The pending increase in NIB contributions will have no significant impact on economic activity, according to Central Bank Governor John Rolle.
Central Bank Governor: Inflation Drop Doesn't Mean A Decline In Prices
NASSAU, BAHAMAS - Central Bank Governor John Rolle says a decline in inflation won't directly result in a drop in prices.
Central Bank shares Consumer Affairs concerns over "discriminatory" point of sale practices
Central Bank shares Consumer Affairs concerns over "discriminatory" point of sale practices
NASSAU, BAHAMAS — Central Bank Governor John Rolle yesterday underscored the regulator's alignment with the Ministry of Consumer Affairs' concerns regarding what he termed 'discriminatory' point of sale practices in exchange rates, signaling potential regulatory action. Governor Rolle, while speaking yesterday at the Global Interdependence Center Conference hosted by the Government and Publi...
Central govt does not insure buildings
Central govt does not insure buildings
The government will not be able to claim insurance on any of its buildings damaged by the storm, because the central government does not carry property insurance.
Central Bank reports 20 percent expansion in digital wallet usage in 2023
NASSAU, BAHAMAS — As of December 2023, the number of digital wallets in use totaled 118,955, marking a 20 percent expansion for the year to date, with the circulation of SandDollars increasing just slightly over 60 percent to $1.7 million, according to the Central Bank. The regulator, in its latest update on the Sand Dollar, [...]
Slow business account opening process prompts greater attention from Central Bank
NASSAU, BAHAMAS — The Central Bank says that it will seek streamlined customer due diligence for micro-and small businesses after a survey revealed that only one-third of business accounts were opened within two weeks or less, with 40 percent taking more than a month to be opened. The findings were revealed in a Central Bank [...]
Central Abaco second annual Lionfish Derby a success
Central Abaco second annual Lionfish Derby a success
Marsh Harbour Abaco - Friends of the Environment hosted its second annual Lionfish Derby in Marsh Harbour, Abaco on Saturday May 28th. Lionfish have become a major threat to the marine resources in the Bahamas. Although this fish is here to stay, derbies such as this one are a way to help maintain local populations and generate awareness about this voracious predator.
Several lionfish derbies h...