Carribbean Credit Bureau

2. March 2015 - In The News
Scotiabank to close Black Rock branch as part of their Global Restructuring Plan
Although Scotiabank Bank branch will be closing later this year, the workers will still keep their jobs. Managing Director David Noel would have informed the staff today about this closure which will take effect on June 12th, which is part … Continue reading →
24. February 2015 - In The News
Digicel makes key changes
In May 2013, Barry O’Brien left Barbados to be the Chief Executive Officer of Digicel Jamaica, however, he is refocusing his energy on the domestic market as the newly appointed Director for the island. This occurred during the appointment of … Continue reading →
24. February 2015 - In The News
DO MORE! CDB urges Govt to take further steps to boost economy
Concerned that Barbados debt and fiscal accounts are “unsustainable”, the Caribbean Development Bank (CDB) is advising government to introduce additional fiscal consolidation measures. Dr Justin Ram, Director of Economics of the CDB believes that Freundel Stuart administration needs to encourage … Continue reading →
28. January 2015 - In The News
Credit unions should be excluded from tax
“Commercial Banks, as far as I am concerned where this legislation is concerned, should be taxed every month and I do not believe that the rate at which we have taxed them within the legislation is adequate…whether or not we … Continue reading →
28. January 2015 - In The News
C&W to issue shares to finance acquisition
New shares by C&W will be issued to help finance Columbus Communications once the takeover is approved by the regulators. The Jamaican Government has given them the “OKAY” to takeover, whereas the application is before the Fair Trading Commission in … Continue reading →
28. January 2015 - In The News
No Worries At This Point
The Financial Service Commission said that it is too early to give a definite statement giving the relocation of Sagicor to another jurisdiction. A recommended plan by management was approved by the Board of Directors to prepare to re-domicile Sagicor … Continue reading →
27. January 2015 - In The News
Foreign Account Tax Compliance Act Agreement Signed
Barbados has signed an agreement with the United States to help improve international tax compliance and to implement (FATCA). The agreement was signed in Bridgetown last Monday and within this agreement both countries will collect bank account and other prescribed … Continue reading →
23. January 2015 - In The News
Scotia Bank new fees effective February 1, 2015
Scotia Bank lets BarbadosTODAY know that some account holders will be paying more in bank charges than other account holders and from February 1st, accounts with balances below $300 will pay a fee of $5.00 and foreign currency holders will … Continue reading →
23. January 2015 - In The News
Bank loan growth at its lowest
Economic challenges have prevented a growth in commercial bank credit. After a growth up to 15% from 2004 to 2008, loans growth has decreased tremendously in the five commercial banks to 0.1% since 2009. Additionally, new research has found that the … Continue reading →
22. December 2014 - In The News
Central Bank says downgrade is unjustified
The Central Bank of Barbados has rejected the latest Standard and Poor’s credit rating downgrade of the country, saying it is without justification. The international ratings agency yesterday lowered the island’s long-term sovereign rating to “B” from “BB-”, and warned … Continue reading →
21. November 2014 - In The News
Barbados Credit Union League is Bidding to host 2016 CCCU
Barbados Cooperative and Credit Union League is making a bid to host the 2016 Convention of Caribbean Credit Union (CCCU) at the Lloyd Erskine Sandiford Conference Centre in Barbados. The league is reporting positive feedback from the Confederation since we … Continue reading →
21. November 2014 - In The News
Financial Service Commission on the JOB
Randy Graham CEO of the Financial Service Commission (FSC) ensures this country’s non-bank financial sectors remains stable. The FSC continues to work with the Central Bank of Barbados and other stake holders to promote financial stability in Barbados. He stated … Continue reading →
21. November 2014 - In The News
Credit Union League Have Positive Report
It seems that Credit Unions are making progress in Barbados despite the economic challenges. Membership in association with the Barbados Co-operative Credit Union League (BCCUL) has increased by 4%; savings 6% higher ending the reporting period at$1.4 billion, as … Continue reading →
7. November 2014 - In The News
Bazooka!: CWC head describes Digicel’s reaction to buyout as sour grapes
Cable & Wireless refuses to role over and play dead while its main competitor Digicel expands their business, warned Chief Executive Officer Phil Bentley. The deal which has the region in an uproar is worth $3.025 billion. Bentley also said … Continue reading →
7. November 2014 - In The News
Mixed reaction to C&W, FLOW deal
Customers refer to C&W buying out the rival Columbus International a “monopoly”. Also while customers of both telecommunications companies discuss the impact, Professor Avinash Persaud warned the deal being a major threat to competition in the region. “The deal will … Continue reading →
7. November 2014 - In The News
Digicel raises concerns over Cable & Wireless acquisition of Columbus International
Telecommunications company Digicel has responded to an announcement by Cable & Wireless Communications of its plans to acquire Columbus International, raising concerns about unfair competition and the protection of consumer interests. In a press statement issued today, Digicel Group CEO, Colm Delves … Continue reading →
6. November 2014 - In The News
C&W buys Flow
Cable & Wireless takes back their rightful place on the map. The telecommunications company has recently agreed to acquire cable TV & Internet Provider Columbus International Inc. to expand in the Caribbean as well as America. The deal also gives … Continue reading →
6. November 2014 - In The News
Jobs in Jeopardy at Scotiabank
Scotiabank to close 120 branches; 35 in the caribbean Scotia bank employees in Barbados are waiting to see who will go on the breadline, as 120 branches will be closing . The Canadian based institution stated that the operations … Continue reading →
14. October 2014 - In The News
Finance Minister Promises an Update
Minister of Finance Chris Sinckler promises a full update on the island’s economic situation. This continues to decrease the country’s worrying deficit which was as high as 12 per cent of GDP last year. The Government’s fiscal consolidation programme … Continue reading →
14. October 2014 - In The News
Resign Minister
A call has been made for the resignation of Social Security Minister Dr. Esther Byer-Suckoo by the Trade Union due to the late payments of benefits. General Secretary of the Unity Workers Union Caswell Franklyn stated that the situation should … Continue reading →
14. October 2014 - In The News
Scam Alert!
POLICE ARE REPORTING that more Barbadians are being robbed shortly after making withdrawals from their bank, increased numbers are being scammed via the Internet, and more are falling prey to identity theft. The three situations have become so serious that … Continue reading →
9. October 2014 - In The News
Suggestion to Resolve Extended Wait for Pensioners
A call for urgent action to help the elderly Barbadians has been requested by the former Chairman of the National Insurance Scheme and Independent Senator, Tony Marshall. He stated that technical persons in the NIS should have been in touch … Continue reading →
8. October 2014 - In The News
NIS System is Down
Due to the malfunction of The National Insurance Scheme (NIS) computer network systems, the distribution of all benefits, including pensions, will be delayed. Although the NIS technical team has been constantly working on the matter, the predicted amount of time … Continue reading →
3. October 2014 - In The News
Wilkinson Update
$4 Million! September 27th, was the day the director of Executive Rentals Inc. and Premier Pre-Owned Vehicles Inc. appeared in District “A” Magistrates’ Court with 67 counts of criminal deception. The charges valued at more than $4 Million were laid … Continue reading →
16. September 2014 - In The News
Fraud Squad Steps In!
Executive Rentals Incorporated has now been placed in the hands of the Royal Barbados Police Force Fraud Squad. Official complaints were made by Globe Finance and Nassco Limited regarding cars they wanted to repossess but could not locate, said Station … Continue reading →
11. September 2014 - In The News
COB Reports an Increase in Student Loans
Despite a 30% decline in the student population at UWI, Chief Executive Officer of the City of Bridgetown Credit Union Steve Belle told Barbados Today, that the institution has seen not only an increase but also a continuous flow of … Continue reading →
5. September 2014 - In The News
Empty Lot [BarbadosToday]
Empty lot Added by Emmanuel Joseph on September 5, 2014. The office of one local car rental company is now effectively closed, after Globe Finance, Simpson Finance and at least one other automobile financing entity swooped down on its operations over the … Continue reading →
20. June 2014 - In The News
Squeeze
THE GROWING NUMBER of Barbadian couples calling it quits is pushing up the loan delinquency rate in at least one large financial institution. The problem is particularly acute when it comes to the mortgage portfolio at the island’s second largest … Continue reading →
20. June 2014 - In The News
Think ahead: Too many Barbadians underprepared for retirement
6/20/2014 The Nation Newspaper WE need to start thinking about preparing for older age, both on an individual and societal level. This is the view of Michael Austin, Vice President Sales & Marketing, Guardian Life of the Caribbean Ltd., who … Continue reading →
29. April 2014 - In The News
Credit Unions United in the Fight against 0.2% Asset Tax
“The members of the Barbados Co-operative & Credit Union League Ltd. are united in their strong opposition to the proposed 0.20% per annum tax on the assets of credit unions”, stated Hally Haynes, President of the Barbados Co-operative & Credit … Continue reading →