Barbados Central Bank to Issue New Guidelines on Commercial Bank Fees for Economic Development
April 30, 2024
The Central Bank of Barbados plans to issue new guidelines to commercial banks, focusing on customer fees to stimulate economic growth. Governor Dr Kevin Greenidge emphasizes collaboration with banks for mutual benefit.
The Central Bank of Barbados will be issuing new guidelines to commercial banks. It will include information regarding the fees they charge customers.
Central Bank Governor Dr Kevin Greenidge says the objective is to spur economic development and growth in the country in a way that individuals, micro and small businesses will benefit.
Central Bank officials met with commercial banks to discuss the way forward and Greenidge says the parties are expected to hold further talks this week when the monetary authority will share its proposed guidelines with them.
He says nothing his institution is proposing should come as a surprise to the banks since their ongoing discussions were “very collaborative”.
Greenidge was speaking during his first quarter press conference earlier today (Tuesday) at the Courtney Blackman Grande Salle.
