Regulatory Alerts2024-01-01
Central Bank of Barbados Market Conduct Guideline July 2024
The Central Bank of Barbados issued this guideline to mandate fair market conduct and protect consumer interests for all licensed financial entities. It requires licensees to obtain regulatory non-objection for new fees, provide free domestic electronic fund transfers, and offer no-fee basic accounts for vulnerable customers. Additionally, the document establishes strict standards for transparent fee disclosure, accessible complaint handling, and equitable account opening and closure procedures.
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