Caribbean gov'ts agree to train int'l financial services workers
Published:Thursday | April 3, 2014 | 12:00 AM
Arthur Hall, Senior News Editor
NASSAU, Bahamas:
Determined to protect the lucrative international financial services (IFCs) industry in the region, Caribbean governments have agreed to establish a centre of excellence to train workers for the sector.
Ryan Pinder, minister of financial services in The Bahamas, made the announcement during a press conference yesterday to close the third Caribbean Conference on IFCs in Nassau.
"The University of the West Indies and the Bahamas Institute of Financial Services have agreed to work together towards the establishment of The Caribbean Centre of Excellence for Financial Services," declared Pinder.
Details of the operation of the centre are still being worked out and no start-up date has yet been decided, but Pinder said funding would come from entities such as the European Union and regional bodies.
Pinder was supported by Donville Inniss, minister of industry, international business commerce and small business development in Barbados.
IMPORTANT INDUSTRY
"The centre of excellence comes against the backdrop of us realising the importance of financial services to our economies. In Barbados, it is the second most important industry and I believe in The Bahamas, it is also second to tourism. A lot of folks go about their daily business and do not think about the importance of the financial sector.
"It is not about The Bahamas alone, it is not about Barbados, it is not about Antigua. It is about the survival of our people in the region and for those islands which might not have financial services as an integral part of their economy at this time, the reality about it is that, if Bahamas does not succeed at this ... , we cannot buy other people's bananas or their plantain nor can we go and stay in their hotels," said Inniss.