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Central Bank of Barbados Issues Second Series of BOSS+ Bonds

Another $200 million tranche of BOSS+ bonds is available to investors from July 1, 2023. The five-year security, which is issued by the Central Bank of Barbados, pays 4.5 percent interest per annum.

“The initial series of BOSS+ bonds proved that there is an appetite for investment among Barbadians, so it’s a given that we have made a second tranche available for those who haven’t invested as yet as well as for those who have but want to acquire more,” said Julia Weekes, the Central Bank’s Director of Banking and Investments. “The big story has been CIBC FirstCaribbean’s substantial purchase, but we are seeing interest from both institutional investors and the average Barbadian.”

In April, CIBC FirstCaribbean, Barbados’ largest bank, invested $100 million in BOSS+ bonds, and the Central Bank’s quarterly economic press release later that month noted that at March 2023, individual investors had taken up $22 million of the security.

Weekes confirmed that the terms of the new series remain the same as for the previous one. “The minimum investment is $500, we’ll continue to pay interest twice a year, and investors still have the option to cash in after 24 months. And, of course, BOSS+ bonds continue to be protected from debt restructuring.”

The bonds include clauses to protect creditors and Government from future debt distress in the event of a natural disaster or a pandemic. The Natural Disaster Deferment and the Pandemic Deferment Clauses allow Government to capitalise interest and defer scheduled amortisation for a two-year period if a pandemic or natural disaster occurs.

BOSS+ bonds were introduced in September 2022 and are sold directly by the Central Bank of Barbados.

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B’DS PUBLIC WORKERS CREDIT UNION PARTNERS WITH BAY VIEW HOSPITAL

In a bid to make premium healthcare more accessible, the Barbados Public Workers Cooperative Credit Union Limited (BPWCCUL) has partnered with Bayview Hospital to ease the financial burden of medical expenses for Barbadians.

Announcing the initiative during a signing ceremony at BPWCCUL’s headquarters on Thursday, Chief Marketing and Customer Experience Officer, Gail Best-Niles, highlighted the growing demand for financial assistance in healthcare.

“What we have found is that more than 50 per cent of our personal loans are being used for medical procedures. Unfortunately, many Barbadians do not have health insurance, and that’s something we intend to address with our members,” she stated.

Despite efforts to educate members on the benefits of health insurance, Best-Niles noted that a significant portion still remain uninsured, making healthcare costs a persistent challenge.

Through this new partnership, BPWCCUL members will receive exclusive discounts on various medical services at Bayview Hospital, including elective surgeries and maternity care.

“Whether it’s an elective surgery or maternity services, Public Workers members can now access world-class treatment at more affordable rates,” Best-Niles explained.

Recognising that even with discounts, medical expenses can still be overwhelming, BPWCCUL will also provide financing options for medical procedures, ensuring that members receive the care they need without undue financial strain.

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Heart & Stroke Foundation rehabilitation programme gets a boost from RUBIS

The recovery prognosis for Barbadians affected by stroke has been boosted by a RUBIS donation of BBD $20,500 to the Heart & Stroke Foundation of Barbados in support of its stroke rehabilitation programme.

The funds will help ensure that patients receive essential physiotherapy assessments before starting rehabilitation, to receive treatment tailored to their specific needs. RUBIS Brand Marketing Specialist Mellissa Broomes said the contribution falls under the Company’s Corporate Social Responsibility roadmap, which is focused on education and healthcare.

“At RUBIS, we are committed to making a meaningful impact in the communities we serve, and our support for the Heart & Stroke Foundation’s Stroke Rehabilitation Programme reflects our dedication to health and well-being. We are proud to contribute to this vital initiative, helping stroke patients regain strength, independence, and an improved quality of life. As the Foundation marks its 40th anniversary, our team looks forward to volunteering throughout the year and is happy to continue our strong relationship in support of its mission.”

Heart and Stroke Foundation CEO Mrs. Greta Yearwood expressed her thanks to RUBIS, noting that it strengthened a relationship dating back several years. She said the donation was timely and would go a long way towards achieving stroke rehabilitation goals.

“We offer services in rehabilitative therapy for both cardiac and stroke patients, but this donation will specifically assist with the physiotherapy for those patients suffering from stroke. Prior to joining the program, they will be able to see a physiotherapist who will be able to assess them and ensure they are receiving the specific needs for their conditions.  We love working with our partners. We also look forward to RUBIS coming on board to assist us as volunteers. This is our 40th anniversary, and there are many areas the RUBIS team can assist in, including working at our sites, attending events and even at our gym. 

The Heart & Stroke Foundation of Barbados (HSFB) is a non-profit organisation dedicated to promoting cardiovascular health and reducing the impact of heart disease and stroke in Barbados. The HSFB raises awareness about risk factors, prevention, and healthy lifestyle choices through education, advocacy, and community programs.

The foundation offers various initiatives, including heart and stroke rehabilitation programs, CPR and first aid training, health screenings, and public awareness campaigns to encourage heart-healthy habits. Additionally, HSFB provides support services for stroke survivors and their families, helping them regain independence and improve their quality of life.

Committed to building a healthier nation, the HSFB works closely with healthcare professionals, corporate partners, and volunteers to drive impactful change in cardiovascular care and prevention across Barbados. (PR)

Caption:

From left are Mellissa Broomes, RUBIS Brand Marketing Specialist, Greta Yearwood, CEO of Heart & Stroke Foundation of Barbados Inc., and Andrea Gooding, RUBIS Marketing Programs Manager

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Business Hub & Business Expo On March 29

Clients of the Barbados Trust Fund Limited (BTFL) will get an opportunity to showcase their products and offer their services this weekend, and members of the public are encouraged to support them.

The BTFL will host a Business Hub this Saturday, March 29, at the Natural Heritage Department Grounds, Sturges, St. Thomas, beginning at 10:00 a.m.

Various business support organisations in the micro, small, and medium-sized enterprise sector and the Unified Trust Co-operative Society will participate in the hub.

Additionally, a team from the Co-operatives Department will be at the Harvest Market, Nature Garden and Business Expo at the Thomas Parish Church on Saturday, from 9:00 a.m. They will share useful information on the co-operative business model, including how the movement can benefit individuals and entrepreneurs.  

The Business Hub and Business Expo are part of the St. Thomas We Gatherin’ initiative.

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