WE MUST DEFEAT THE CASHLESS SOCIETY

Fred Mitchell, Chairman of the PLP has been on a relentless campaign to halt the nonsense supported by the Central Bank of The Bahamas and others that we must move to a cashless society.  He has argued that almost certainly this is unlawful in The Bahamas. But yet businesses and especially government agencies are marching to the gangplank.  The British Government issued a statement last month about the importance of a law that demands that there be access to cash.  There was also a  report that in Belize the Central Bank is taking aggressive steps on the fees that banks charge their customers.  There is a similar story in Barbados. In Nassau though, CIBC announced that they are changing their hours of operation on Fridays.  Normally the bank closes at 4:30 p.m.  CIBC or First Caribbean as they are called in The Bahamas has decided they will close at 3 p.m. now instead.  This is another example of the lousy banking nature in The Bahamas and the tone-deafness of the Central Bank.