CIBC FirstCaribbean Bank in George Town (CNS): In September 2021, CIBC FirstCaribbean Bank (Cayman) informed its staff that they would be required to prove they were vaccinated against COVID-19 and produce a weekly negative PCR test or go on unpaid leave. However, after two employees complained to the Office of the Ombudsman, the OMB conducted…
It has been brought to our attention that an article published on December 24, 2022 on the back page of the Saturday Sun headlined "Money Gone" contained a number of inaccuracies. The Nation accepts that while initial contact was made with the bank's Managing Director for Barbados and the Eastern Caribbean, Donna Wellington for comment, the article was published prior to the bank fully investigating this matter. That investigation has …
Two local organisations are benefitting from a donation of EC$65,000 from funds raised during CIBC FirstCaribbean Bank’s 11th Annual Walk for the Cure which was held last October. The Bank’s Country Head Ladesa James-Williams noted: “We are so happy and excited to present this record-breaking cheque for $65,000 raised during…
A former central bank governor is urging the Barbados Government and others in the region to rethink their borrowing strategies, suggesting that policy-based loans should be avoided since their results over the years have been disappointing.Economist Dr DeLisle Worrell gave the advice, while excusing such loans from the International Monetary Fund (IMF) under its Extended Fund Facility (EFF) arrangement, in which Barbados is currently engaged.He argued that loans that were not related to infrastructure development, public utilities and public service were bad debt since it was “difficult to identify positive outcomes”.“I believe the time is ripe for a re-evaluation of borrowing strategies by Caribbean governments. Clearly, government borrowing to provide for facilities and equipment to ensure the effective delivery of public services and public utilities is essential for economic development. On the evidence, that seems as far as governments need to go,” said Worrell.“Governm