This country’s bankers are pleased with measures announced in the budget aimed at speeding up approval of mortgages and commercial loans.

Ahead of the budget, the bankers had complained of such bottlenecks.

In her budget presentation Prime Minister Mottley described existing mortgage rules as madness, adding that timelines for closing mortgages were unacceptable and were one of the biggest drags on economic growth.

She then announced a number of initiatives.

Speaking on behalf of the Barbados Bankers Association, CIBC’s Managing Director for Barbados and the Eastern Caribbean, Donna Wellington, tells Starcom Network News  that the measures announced in the budget are much needed.

CIBC’s Managing Director for Barbados and the Eastern Caribbean and Member of the Barbados Bankers’ Association, Donna Wellington.