With the global recession taking its toll and delinquent loans on the rise, including those held by corporate and commercial clients, Canadian banks are having issues with the Caribbean.
The Bahamas: Business
Emerging cybercrimes are threatening the security confidence of the electronic banking system especially, with online banking still in its growing stages in the Bahamas.
The Bahamas Automated Clearing House will be launching a new “direct credit” system next week, which is expected to improve electronic banking in the Bahamas.
The Bahamian Contractors Association is pushing Baha Mar developers for a financial commitment to fund a national training programme for local construction workers before the Cable Beach project commences.
Bahamians are now more than$1 billion in arrears on their loans as the public continues to struggle with keeping up mortgage payments.
A new Bahamas Law Students Association has been launched with the intent to improve and provide professional and scholastic opportunities and development for its members.
Officials of the National Congress of Trade Unions of the Bahamas have publicly stated support of the Baha Mar project, even on the controversial issue of thousands of Chinese workers being brought in to work on the multi-billion dollar resort.
After seeing signs of improvement in the travel industry at the start of the year, conditions are beginning to get a bit murky.
The Bahamas Financial Services Board has opened nominations for the 2010 Financial Services Industry Excellence Awards.