The Central Bank of Barbados and the Financial Services Commission (FSC) advise that all deposit-taking institutions and/or businesses facilitating domestic or international payments can open under the extended 24-hour curfew, which runs from April 15, 2020 until May 3.
The Bank and the FSC acknowledge that during this period financial institutions may reduce the number of their branches that will operate.
The regulators advise, however, that financial institutions, including commercial banks, credit unions and money service remittance firms must:
- Enforce the requirement that their clients use their services on the day assigned by their surname or special circumstance;
- Accommodate, by exception, during the shortened weeks of April 13 and April, 27 clients assigned to Monday and Tuesday, and Tuesday and Friday, respectively
- Take the opportunity during this period to encourage their customers to sign up for ATM cards and/or internet banking, where feasible
- Adopt protocols for dealing with persons who, for the protection of their health, wish to enter the banking premises wearing masks. Such clients must temporarily reveal their full face on entry to the institution and when they approach the customer agent for the purposes of security and customer identification.
The regulators advise that customers should check their financial institution’s website or monitor the media for the details about the operations of the financial services sector during the extended curfew.
The Bank and the FSC thank all deposit-taking institutions for their understanding and urge Barbadians to adhere to the new procedures for carrying out their financial transactions to ensure everyone’s safety.
The regulators also remind the public to adhere to the national protocols and warnings to mitigate the spread of COVID-19.
Central Bank of Barbados & the Financial Services Commission