National

Central Bank Educational Campaign Launched

NASSAU, BAHAMAS – Central Bank, backed by all seven commercial banks in The Bahamas, now launching the “Live Fast, Pay Digital” Educational Campaign.

Published

2 months ago

May 31, 2024

Marlena Leonard

NASSAU, BAHAMAS – Central Bank, backed by all seven commercial banks in The Bahamas, now launching the “Live Fast, Pay Digital” Educational Campaign aimed at increasing the use of electronic transactions on the Family Islands.

This as banks are moving away from brick-and-mortar establishments.

But they’ve historically had pushback on this digitization effort, with the Central Bank saying “more than 50 percent of the population still expressing serious concerns about the elimination of the paper process and trail.”

Already the banks has pivoted from a goal of cheque elimination to a reduction aiming to give businesses time to adapt to the future of digital banking.

As for the campaign itself, it hopes to address several topics for the general public and the business community.