The Central Bank of The Bahamas has published an Agency Banking Consultation Paper for a 45-day consultation, proposing a regulatory framework that would permit licensed non-bank entities to deliver basic banking services on behalf of licensed banks and credit unions. The proposed framework covers eligibility criteria for agents and sub-agents, sets operational and compliance requirements, and introduces consumer protection measures. It also emphasises interoperability, including integration with the Central Bank’s Digital Currency, SandDollar. The consultation closes on 30 June 2025.
Central Bank of the Bahamas 2025-05-15
Central Bank of The Bahamas launches consultation on an agency banking framework allowing licensed non-banks to provide basic banking services
The Central Bank of The Bahamas released a consultation paper proposing a regulatory framework for agency banking, allowing licensed non-bank entities to offer basic banking services for banks and credit unions. The framework outlines eligibility criteria, operational and compliance requirements, and consumer protection measures, with a focus on interoperability with the Central Bank’s Digital Currency, SandDollar.