The Barbados International Business Association says there is now greater investor confidence in Barbados but warns that there are major issues to be addressed such as what has been described as “horror stories” in trying to get business done in both the public and private sectors….with the high charges in the commercial banking sector cited as a key example.
BIBA’s President Julia Hope and Executive Director Henderson Holmes were speaking to moderator David Ellis on VOB’s Getting Down to Brasstacks call-in program this morning which had a special focus on the international business sector.
Mr. Holmes notes Barbados remains attractive for investors but that there are issues to be addressed.
Meantime, Ms. Hope highlighted what she considers to be exorbitant commercial bank charges for companies making financial transactions.
Ms. Hope and Mr. Holmes explained that it has to do with the commercial banks that are largely headquartered outside of the Caribbean categorising the entire region along with Latin American as being high-risk.
Ms. Hope also spoke of Barbados and other smaller states being engaged in an almost daily battle to come to terms with what she calls a difficult and hypocritical international regulatory environment with countries like Barbados being subjected to conditions that are not imposed on the United States.