The Central Bank must be in the forefront of combating financial misinformation and disinformation while smoothing the way for small business people and ordinary Barbadians to access funding, allowing citizens to be active participants in Barbados’ economic recovery.
Minister in the Ministry of Finance and Economic Affairs Ryan Straughn gave this solemn duty to the bank’s staff yesterday during a service in the St Michael’s Cathedral in The City where the bank celebrated its 50th anniversary with the theme Living the Legacy, Continuing the Journey. It was held under the patronage of President The Most Honourable Dame Sandra Mason.
“For too long we have all felt and heard issues related to credit and finance for small businesses in this country and I know we can implement a system that is fair and allows all Barbadians to fully participate in this economy as such that credit would no longer be adjudicated based on who you know but based on the actual propensity to pay . . . and help build stronger businesses, communities and families.
“I want to challenge the Central Bank this morning . . . to be an aggressive proponent to combat the worst of the financial impacts which can befall [the average Barbadian]. It is, therefore important, as you go into the schools and communities across Barbados, to combat the disinformation out there in respect to financial interests and ensure persons can make the best possible financial decisions,” he said. (CA)
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