NASSAU, Bahamas, Aug 25, CMC – Prime Minister Phillip Davis will meet with stakeholders in the banking industry “in the coming days or the coming weeks” amid concerns that Parliament may be asked to intervene to deal with the increasing fees and services of commercial banks in The Bahamas.
Acting Press Secretary Keishla Adderley, told reporters that Prime Minister Davis, who is still recuperating from back surgery, will seek to determine a “happy medium” on the need for reform in the commercial banking sector.
“The prime minister has noted with interest the very vigorous debate that’s been raging concerning banking fees and whether or not they are justified,” she told reporters, adding “on the one hand, there is the retail banking sector, which is continuing to make a case for preserving free enterprise and ensuring that competition is maintained, on the other hand, of course, there are consumers who are questioning whether these fees are justified.
(Details in Business section)
CMC/2024