Sunday, Feb 17, 2019

CBB explains payment delays

CBB explains payment delays
04 Jan
2019

The Central Bank of Barbados says there has been a delay in making interest payments that were due on December 31st, last year to some holders of government securities.

But it anticipates that all payments should be received by next Friday, January 11th.

Director of Banking and Investments, Julia Weekes has apologized on behalf of the bank, for the delay that people have been experiencing in receiving their interest.

She says because of the new structure of government securities, they have had to change their computerised system, and are still experiencing some challenges with implementation.

As a result, where previously interest payments would have been made through an automated system, this set of payments has to be done manually.

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