The Central Bank of the Bahamas published opening remarks by Governor John A Rolle at the CB+DC Conference 2025, framing the SandDollar as part of a wider programme to modernise domestic payments and advance financial inclusion. The remarks set out a priority to develop a fast payments platform fully interoperable with the SandDollar, with a mandate that all retail domestic payments providers participate directly, alongside direct participation by the Government. The speech situates this agenda in the Bahamas’ payments landscape, including six retail commercial banks, eight non-bank payments or money transfer providers, and six credit unions. It describes earlier modernisation through wholesale and retail payment infrastructure (RTGS and ACH) and legal reforms enabling electronic money services and non-bank participation, and notes that the CBDC was designed to support interoperability for non-bank platforms. Wider policy themes highlighted include extending access beyond New Providence through digital channels and an agency banking framework, strengthening resilience after natural disasters, and maintaining an internationally credible approach to financial crime risk management, including simplified due diligence for low-risk transactional accounts. Governor Rolle also highlighted ongoing foundational issues for retail CBDC adoption, including the need for offline payments functionality, governance and privacy safeguards, and transparency and disclosure standards for data protection. On next steps, the Central Bank intends to integrate the Government more into the CBDC platform ahead of fast payments participation and continues exploring tools such as a central bank-developed app. The remarks also note that the Public Treasury and at least two other participants are in the process of joining the ACH, and that The Bahamas has committed with Barbados and the Eastern Caribbean Central Bank to participate in the pilot of the Caricom Payment and Settlement System (CAPSS).
Central Bank of the Bahamas 2025-09-10
Central Bank of the Bahamas outlines fast payments platform plans interoperable with the SandDollar retail CBDC
At the CB+DC Conference 2025, Central Bank of the Bahamas Governor John A Rolle highlighted the SandDollar's role in modernizing payments and enhancing financial inclusion. Priorities include a fast payments platform interoperable with the SandDollar, mandatory participation from all retail payments providers and the Government, integrating the Government into the CBDC platform, and participating in the Caricom Payment and Settlement System pilot with Barbados and the Eastern Caribbean Central Bank.