NASSAU, BAHAMAS — The Central Bank of The Bahamas (CBOB) has initiated a public consultation on a groundbreaking proposal to introduce low- to no-cost basic banking accounts, targeting unbanked and underbanked individuals. This initiative, part of the Bank’s broader Payments System Modernization strategy, aims to make these accounts widely accessible by the first half of 2026. The modernization efforts have already introduced key infrastructure, including the Real Time Gross Settlement System (RTGS), the local Automated Clearing House (ACH), and the SandDollar retail central bank digital currency.
Central Bank launches public consultation on basic accounts to improve financial inclusion
