Coalition of Independents Official Release of The Vision for
Banking and Finance
Banking and Finance
The Bahamian banking and finance sector today faces numerous challenges. Consumers have long endured burdensome banking fees, predatory lending practices, and limited access to affordable credit. Commercial banks, many of which are foreign-owned, continue to post substantial profits while escalating service charges, exacerbating hardships for everyday Bahamians. At the same time, branch closures by major banks have reduced services in Family Islands, forcing some communities to operate without local banking facilities. This lack of financial accessibility and the imbalanced financial system contribute to inequality and stifle economic opportunity.
There is a clear need for transformative policies to empower Bahamians financially and assert the nation’s economic sovereignty. Past incremental fixes have proven insufficient – a bold vision and comprehensive strategy are required to reset the banking sector in favor of the people. The Vision 2030 Plan for Banking and Finance in The Bahamas outlines a roadmap of ambitious reforms to foster genuine competition, fairness, and inclusion. By addressing long-standing structural issues and discriminatory regulations, this plan seeks to create a financial system that serves all Bahamians, promotes wealth-building, and positions The Bahamas as a dynamic player in the global economy. The following document presents this vision as a formal policy plan, an economic manifesto, and a strategic roadmap for achieving a financially empowered Bahamas by 2030.
There is a clear need for transformative policies to empower Bahamians financially and assert the nation’s economic sovereignty. Past incremental fixes have proven insufficient – a bold vision and comprehensive strategy are required to reset the banking sector in favor of the people. The Vision 2030 Plan for Banking and Finance in The Bahamas outlines a roadmap of ambitious reforms to foster genuine competition, fairness, and inclusion. By addressing long-standing structural issues and discriminatory regulations, this plan seeks to create a financial system that serves all Bahamians, promotes wealth-building, and positions The Bahamas as a dynamic player in the global economy. The following document presents this vision as a formal policy plan, an economic manifesto, and a strategic roadmap for achieving a financially empowered Bahamas by 2030.
Empowering BAHAMIANS In
The New Bahamas
