Search results for : Loans Personal
Former AG doubts govt will restrict web shop play
July 02, 2014
Former AG doubts govt will restrict web shop play
Former Attorney General Carl Bethel said yesterday he doubts the government will restrict web shop operators from offering sports betting and online slot machine games, known as "spinning".
The new law would permit "domestic players" to participate in "numbers games" with licensed web shops.
A numbers game is defined as a game made available by the holder of a gaming house operator license "in ter...
Unreasonable explanation
June 30, 2014
Unreasonable explanation
Web shop owners, long pushing for their operations to be regularized, have Central Bank Governor Wendy Craigg to thank for making Prime Minister Perry Christie aware that due to certain concerns relative to the development of an underground banking sector the government needs to act once and for all on this matter.
At least that is the explanation we have repeatedly gotten from the prime minister ...
Roker fires back
June 16, 2014
Roker fires back
Prime Minister Perry Christie has thus far failed to show strong leadership and no amount of skirting around the core issues at hand will change that fact, according to former Progressive Liberal Party (PLP) Minister A. Loftus Roker, who is firing back at Christie's confusing and shallow response to Roker's criticism of his decision to ignore the results of last year's gambling referendum.
Asked r...
Cash wants BOB probe
January 22, 2014
Cash wants BOB probe
Free National Movement (FNM) Chairman Darron Cash yesterday called for a select committee investigation into the management and governance of Bank of The Bahamas (BOB).
Cash said recent reports alleging that BOB may have been used as a political tool is making a lot of Bahamians uneasy.
In a statement last week, BOB dismissed such assertions as untrue.
"Successive governments, to their credit, hav...
PM reaffirms support for BOB
January 21, 2014
PM reaffirms support for BOB
Prime Minister Perry Christie yesterday reaffirmed the government's support for Bank of The Bahamas.
"As the 65 percent majority shareholder of Bank of The Bahamas, the government of The Bahamas reaffirms its robust support for the bank," Christie said in a statement.
"There need be no fear or concern on that score. The bank's capital position and other fundamentals remain strong.
"Moreover, the g...
Bank of Bahamas says no politics in loan grants
January 20, 2014
Bank of Bahamas says no politics in loan grants
Recent media reports suggesting political favoritism or political involvement in the granting of loans by Bank of The Bahamas are "simply untrue", the bank said in a statement on Friday.
"Successive governments, to their credit, have systematically avoided any involvement in credit policies or the granting of credit," the statement said.
"Further, virtually all of the loans involving so-called pol...
A gloomy time
December 21, 2013
A gloomy time
The announcement on Friday, December 13 by the government of Barbados that it will lay-off over 3,000 public servants in January as a first step in cutting back government expenditure and reducing national demand for goods and services has rightly rattled other Caribbean Community (CARICOM) members. Concern has been greatest in neighboring Eastern Caribbean countries, particularly the six independ...
Bank seeking staff cutbacks
October 02, 2013
Bank seeking staff cutbacks
CIBC First Caribbean has advised the government of plans to restructure operations in The Bahamas and the region, in a move which could lead to redundancies over the next 18 months...
Bank exec: Bahamians don't have enough savings
May 21, 2013
Bank exec: Bahamians don't have enough savings
One of the country's banking veterans is expressing concern that the average Bahamian does not have sufficient funds in their saving accounts to meet unexpected emergencies.
According to statistics released by The Central Bank of The Bahamas, 95 percent of Bahamian dollar personal savings accounts have a balance of less than $10,000 and the average balance is $704.
Nathaniel Beneby Jr., chairman o...
May 21, 2013
Beneby: Mortgage Relief Plan impacted by unemployment
Chairman of the Clearing Banks Association (CBA) Nathaniel Beneby Jr. says the high level of unemployment is the primary reason why more Bahamians did not qualify under the government's Mortgage Relief Plan.
Beneby pointed out to Guardian Business that all seven of the country's clearing banks have assisted defaulting borrowers retain their homes since the economic recession began in 2008. In fac...
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