Statement Announcing Committee To Investigate Banking Sector in The Bahamas

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1992

Scenes the PLP 53rd National Convention.

From The Office Of The Chairman Of the Progressive Liberal Party

For Immediate Release

19 November 2017

The Progressive Liberal Party wishes to announce that at its last meeting of the National General Council of the party on Thursday 16 November , it appointed a committee by unanimous consent to look into all matters relating to the decision of the officials of The Bahamas Government with regard to the banking sector in The Bahamas, on money transfers, banking transaction fees and matters related thereto and to make recommendations on what the policy of the PLP ought to be with regard to it with particular reference to the affect this is having on communities that are unbanked or under banked.

The Chairman of the Committee is Quinton Lightbourne formerly of the Bahamas Investment Authority. Other members are Cheryl Bazard, Torez Hanna, Jamaal J. Davis, Pia Glover-Rolle.

The Committee is expected to complete its initial work within sixty days.

In announcing the resolution, Party members said that a policy position was required for the party having regard to the fact that there is an apparent retrenchment of banking services going on in the country of traditional services to Bahamian communities, and some communities have been stripped of any services at all, without the ability for cash transfers to those communities. The PLP believes that services should be provided to those communities without banking services and the idea is for the Committee to advise on how this can be done within the ambit of both international and local regulations.

We ask the cooperation of the public throughout the country with the work of the Committee.

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