Central Bank of Trinidad and Tobago consults Tobago Chamber on payments reforms and 2026 to 2031 strategic plan

The Central Bank of Trinidad and Tobago met the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce to gather business input on Tobago’s economic conditions and to brief the Chamber on ongoing payments reforms and the Bank’s next five-year strategy. The discussions covered the domestic macroeconomic context, banking services, foreign exchange, financial literacy, and the Chamber’s assessment of current business conditions and near-term priorities in Tobago. The Bank updated participants on the Draft Payment Systems and Services Bill and accompanying regulations, as part of its national public consultation process, with the Tobago session described as the second held on the island. It also discussed key payment initiatives including the CARICOM Payments Settlement System and the domestic Instant Payment System. The Chamber asked for Central Bank data that could help Tobago businesses, especially small and medium-sized enterprises, better understand Tobago’s contribution to the wider economy, and backed the Bank’s financial literacy work. Work is ongoing on a new Strategic Plan for 2026 to 2031, and the Bank invited the Chamber to provide views on issues it should consider as part of that planning process. The meeting follows the Bank’s April 2026 engagement with the Chief Secretary of the Tobago House of Assembly and forms part of its wider dialogue with stakeholders.