Excitement buzzes in Barbados as the Central Bank and the Financial Services Commission gear up to release the highly anticipated 2023 Financial Stability Report. Set to be unveiled during a roundtable discussion on Wednesday, June 26, at 11:00 am, this event is not to be missed. The livestream will be available on the Central Bank’s Facebook page and YouTube channel, making it accessible to all.
Key highlights of the upcoming event include:
– Central Bank Governor, Dr Kevin Greenidge, and FSC CEO Warrick Ward will grace the discussion with their presence.
– Officials from Barbados’ prominent banking, credit union, and insurance sectors will also join in the dialogue.
– The Financial Stability Report, a collaborative effort between the Central Bank and FSC, will delve into the robustness of the island’s financial system.
Novaline Brewster, the Director of Communications, Information, and Outreach at the Central Bank, shared insight into the revamped report. She emphasized that this year’s report is not only more comprehensive but also forward-looking. Brewster highlighted the importance of assessing the major players in the financial sector, shedding light on their performance in the past year and their resilience to adverse situations. Notably, the report identifies and analyzes three key risks that could potentially impact the stability of Barbados’ financial system.
Brewster further encouraged Barbadians to tune in to the discussion, stating, “The vast majority of Barbadians have financial investments, whether through savings accounts, pension plans, or insurance policies. This event is an opportunity to gain valuable insights into the performance of the financial sector and the overall stability of the financial system.”
In Barbados, commercial banks, credit unions, and insurance companies reign as the largest entities within the financial system. Collectively, these three giants hold assets totaling $22.1 billion. As the discussion unfolds, attendees can expect a deep dive into the inner workings of these financial powerhouses and the implications for the broader economy.
As the countdown to the release of the 2023 Financial Stability Report begins, anticipation is high among the citizens of Barbados. This event promises to be an enlightening and insightful exploration of the financial landscape, offering invaluable perspectives from both regulators and industry insiders. Be sure to mark your calendar and join the livestream for a unique opportunity to stay informed about the state of your financial well-being.
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