Alvin Hilaire: Reflection on the past and looking forward to the future - 20-year anniversary of the Central Bank of Trinidad and Tobago
Remarks by Dr Alvin Hilaire, Governor of the Central Bank of Trinidad and Tobago, at the Bankers Association of Trinidad and Tobago (BATT) 20th Anniversary Event, Port of Spain, 1 November 2017.
1. A very warm welcome from the Central Bank of Trinidad and Tobago to our financial community and to the members of the Bankers Association of Trinidad and Tobago in particular on the occasion of BATT's 20th anniversary. A double-decade birthday marks a very special time - just breaking out of the teenage years - and provides a great opportunity for both reflection on the past and looking forward to the future.
2. For many Trinbagonians, banks are our first introduction to the financial world. When I was a child (not too long ago) it was a serious rite of passage to be escorted by one's parents to the neighborhood bank to open an account and to deposit a few dollars. With no internet, LINX or ATMs, everything was cash, personal visits to the tellers and the little red passbook to keep track of all your precious transactions. Nowadays, with technology and electronic communications the form of interaction has changed somewhat - becoming a bit more impersonal at times - but the fundamental relations with our bankers remain basically the same. From small cash deposits, to salary deposits, car loans, mortgages, credit cards and investments, our dealings with banks follow us over the years and help to define key stages of our life cycle.