Monday, February 17, 2020

Complete Bahamian Digital Dollar Roll-Out By Year-End

Central Bank Governor John Rolle

By Farah Johnson
Tribune Reporter

THE Central Bank's governor yesterday confirmed that the digital Bahamian dollar will be rolled-out throughout all islands during the 2020 second half after being introduced to Abaco by month's end.

John Rolle, pictured, addressing a Bahamas Chamber of Commerce and Employers Confederation (BCCEC) breakfast on Project Sand Dollar, said the test initiative - which began in Exuma in December - will be extended to Abaco to "accelerate the provision of financial services needed to support business sector recovery".

"Abaco actually was the first choice for the digital currency pilot," he added, "but we felt that what was missing from Abaco was that the financial inclusion, or financial access issue, wasn't as stark in the sense of all of the banks being present. But in terms of ecosystem, it would have been just as rich."

Mr Rolle said some "interesting experiences" can come out of Abaco when it comes to using the digital Bahamian dollar to conduct and settle financial transactions as the island is still recovering from Hurricane Dorian.  Read more >>