John A Rolle: The Bahamian payment system modernisation - advancing financial inclusion initiatives

Speech by Mr John A Rolle, Governor of the Central Bank of The Bahamas, at the Central Bank of The Bahamas Blockchain Seminar, Nassau, 18 March 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
21 March 2019


Inclusive of a digital version of the Bahamian dollar, the Central Bank of The Bahamas has defined several evolved objectives for the Bahamian payments systems. On some levels The Bahamas is positioned to use new technology to accelerate this transformation. It brings into focus the need for new policies and regulatory reforms to address best practices in the digital supply of financial services, consumer protection in its multifaceted forms, cyber security, and more.

There are multiple, complementary objectives within our digitisation and reform initiatives. These include:

  •  Making the payments system more efficient.
  •  Using technology to achieve more inclusive, cost affordable, even access to financial services, across all islands of The Bahamas; providing access that avoids discrimination on the basis of immigration or residency status.
  •  Strengthening national defenses against uses of the financial services infrastructure for money laundering and other illicit ends; including activities that thrive more easily in cash intensive environments.

Selected Payments System Indicators