The Central Bank of Barbados has acknowledged public concerns regarding some businesses refusing to accept US $1 notes. While the Bank understands the frustration this may cause, it clarifies that, by law, the acceptance of foreign currency by the public falls outside its jurisdiction. Therefore, it cannot intervene in matters concerning local businesses’ non-acceptance of US $1 notes.

However, the Bank assures the public that it continues to accept US $1 notes from commercial banks. Additionally, commercial banks have informed the Bank that they regularly accept US $1 notes from the public.

It’s important to note that in Barbados, the Barbadian dollar (BBD) is the sole legal tender. While businesses may choose to accept foreign currencies like the U.S. dollar, they are not legally obligated to do so. This discretionary acceptance can lead to inconsistencies, especially concerning smaller denominations such as the US $1 note.

For individuals possessing US $1 notes, the recommended course of action is to exchange them at local commercial banks, which have indicated their willingness to accept these notes. This approach ensures that foreign currency can be converted into Barbadian dollars, facilitating seamless transactions within the local economy. (PR)

The Grantley Adams International Airport (GAIA) and the tourism industry marked a historic milestone on Saturday, December 21, with the arrival of 54 flights.

Minister of Tourism and International Transport, Ian Gooding-Edghill, who was present for the arrival of the inaugural Delta Saturday-only flight out of John F. Kennedy’s Airport, stated that from the 54 flights, approximately 8,000 passengers would have arrived on the island, with 2,200 of those passengers being air-to-sea transfers.

Mr. Gooding-Edghill noted that the milestone proved that the efforts of the Ministry and the Barbados Tourism Marketing Inc.’s (BTMI) airlift strategy had been successful and gave a breakdown of the type of aircraft that landed at GAIA.

“Our airlift strategy has been successful in getting more airlift and visitors to Barbados…. Today is also a very historic day for the Grantley Adams International Airport. I must tell you that today this airport will witness 54 flights, 15 wide body flights, 15 narrow bodies, and 24 regional,” Minister Gooding-Edghill said.

He expressed thanks to the staff of the Ministry, the BTMI, those in the aviation sector, tourism stakeholders, and notably, BTMI’s Director for the USA, Peter Mayers.

“Let me also thank the wonderful team that is the Barbados Tourism Marketing Inc.’s wonderful team that they have based in the United States of America. It is this team that journeyed with us and helped us when we were negotiating with the airlines to achieve the success that we are achieving with our airline strategy. It is the team led by our Director, Peter Mayers.

“Peter, I want to say thank you, not only on the behalf of the Barbados Tourism Marketing Inc., not only on behalf of the Ministry of Tourism but certainly on behalf of the Government and the people of Barbados, for your continuing service excellence and your dedication to the development of Barbados as a tourism destination, I really want to say that to you,” the Tourism Minister stated.

He noted that the increase in airlifts was reflected in the statistics regarding visitor arrivals when compared to 2019. “Another very interesting statistic is that the Grantley Adams International Airport is projecting to have 2.35 million passengers by the end of this calendar year. This is certainly up from the 2019 figure, which I’m advised, was 2.29 million passengers,” Mr. Gooding-Edghill reported.

The Minister added that the Ministry intends to ensure that more airlift comes to the island from the United States and Europe.

Also giving an update on the operations at the GAIA was its Chief Executive Officer, Hadley Bourne.  He shared that one of the initiatives to enhance the  experience at the airport was the operationalisation of the Concorde Experience.

“So, we would have heard the Minister speak about his tourism strategy and growth that we are seeing in all the various markets and even on the air-to-sea side, and one of those pretty good initiatives that we would have also engaged in to enhance the overall experience at the Grantley Adams International Airport is the opening of the Concord experience.

“It’s been open now roughly six weeks, and we’ve been having fantastic feedback from all stakeholders, whether it be the passengers or the cruise personnel, and even local stakeholders. And on any given Friday or Saturday, there’s a throughput through that facility in excess of 1,500 passengers. This takes a significant load off the main terminal, which allows for the Minister to then exceed his commercial activity and that is just one of the initiatives that we’ve seen. Because for us, customer experience is key to maintaining and keeping the tourism product that we are promoting,” Mr. Bourne stated. (PR/GIS)

The Barbados Trust Fund Limited (BTFL) will launch a new initiative early next year to empower its clients in the services sector.

General Manager of the BTFL, Jerry Amos, made the disclosure on Friday afternoon as he addressed the Staff Luncheon and Awards Ceremony for some clients, at Accra Beach Hotel and Spa.

Mr. Amos told the gathering: “Starting in the first quarter of the next financial year, we will launch STI-FEST – Service Technology Innovation Fest.
This initiative will blend technology and innovation to empower our clients in the services sector, equipping them with tools and insight to thrive in a rapidly evolving market.”

In highlighting some of the Fund’s accomplishments over its six years of existence, he pointed out that an online Loans Management System (LMS) was launched in 2024. He said the system has transformed the operations of the BTFL, as the loans process has been streamlined and is entirely online.

“Once the payment sections are completed, we will have a complete end-to-end system, making it easier for our clients to access and manage their financial services with us….

“We are not stopping there. In the second phase of development of the LMS solution, we will introduce artificial intelligence and data analytics to enhance the system’s capabilities.

“These advancements will allow us to better anticipate and respond to clients’ needs, as well as provide valuable insight that will help us refine and improve our services. This is about more than technology; it’s about using innovation to deliver even greater value to our clients,” he stressed.

Mr. Amos said recent public discussions about the Fund’s $5,000 loan offering had sparked reflection within the organisation. He insisted that such an amount could deliver the remarkable outcomes showcased by BTFL.

“When paired with guidance and resources, $5,000 can be the seed that transforms a dream into reality. That being said, we also recognise that some businesses require more than the $10,000 that we offer as a second loan, after the first $5000.00 loan is successfully repaid.

“We will continue to champion grant funding for potential entrepreneurs at the pre-seed stage, ensuring that ideas can grow into enterprises. Our work must not only fund businesses but nurture them to succeed,” he emphasised.

The General Manager praised the staff for their commitment, describing them as enablers of dreams, architects of change, and the backbone of the organisation’s success. He also congratulated the 27 clients who received awards for their hard work and dedication.

Permanent Secretary in the Ministry of Energy and Business, Kevin Hunte, underscored the importance of the entrepreneurs and Trust Fund celebrating their achievements. He encouraged them to map out and list their achievements.

“We need to wave them high, especially in these days where negative news seems to be taking the predominance. And, so I want to encourage you both – Trust Fund as well as the awardees – to tell your story … as widely as you can, as loudly as you can, and with as much detail as you can, because your success is Barbados’ success,” Mr. Hunte said. (PR/GIS)

Caption: Collis Lowe of Gratitude Enterprises accepting her award from Permanent Secretary in the Ministry of Energy and Business, Kevin Hunte