By November next year, banking institutions will be able to transact business in real-time.
Ryan Straughn, Minister in the Ministry of Finance, made the announcement, on Wednesday at the opening ceremony for the new branch of the City of Bridgetown (COB) Cooperative Credit Union at Six Road s St Philip.
Straughn revealed all of the key players had been working assiduously for the past two years to get the systems going. He stressed that real-time banking will make conducting business with Government and financial institutions easier for micro, small and medium enterprises.
“We have given a mandate that we want to make it as easy for people to do business with Government, and for the Government to do business with people. . . . the coconut vendor at the side of the road on Sunday morning, the hairdresser, the barber, the person who has the small shop, and the doctor. We want to be able to onboard technologically these persons, such that we are able to break down the barrier