Report: How has public-private collaboration boosted digital and cash transformation in the Bahamas?

Public-private collaboration aimed at boosting digital payments and reducing cash usage in the Bahamas has made gains in a relatively short timeframe. Since the start of the Covid-19 pandemic, policymakers have invested in technological infrastructure on the supply side while incentivising digital payments on the demand side through a mixture of debit and credit cards, and cashless point-of-sale and person-to-person direct transfers. In parallel, the country's central bank digital currency – known as the Sand Dollar­ – has positioned the Bahamas as a regional leader in digital finance.

These developments can be seen in the broader context of efforts to modernise the banking system, including the Bahamas Banking Systems Modernisation Initiative, which led to the establishment of the Bahamas Clearing House, the Real Time Gross Settlement System and the Credit Bureau. These policy milestones, in conjunction with innovation from the private sector, have laid the groundwork for continued growth in digital finance over the coming decade.

Click here to download full report.

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart

Read Next:

In The Americas

Perú: Preparándose para el despegue

El sólido crecimiento económico del Perú en la última década se vio acompañado por un incremento igualmente considerable del tráfico aéreo, que aumentó a más del doble en los pasados cinco años,...

In Financial Services

Jordan: Venturing for SMEs

Amidst a slowdown in the Middle East’s private equity industry, Jordan’s small and medium-sized enterprises (SMEs) are set to get a boost from a new private equity fund.


Turkey's Prime Minister Ecevit in the US

The Turkish Prime Minister Bulent Ecevit has spent the last week in the US hoping to garner support for economic reforms at home and trade concessions for Turkish exports to the US.