Press Release: Agency Banking Industry Consultation

Published: Thursday May 15th, 2025

Press Release

Agency Banking Industry Consultation

The Central Bank of The Bahamas is pleased to release, for a 45-day consultation period, its Agency Banking Consultation Paper. This initiative reflects the Central Bank’s ongoing commitment to enhancing financial inclusion and promoting the stability of the financial system.

The proposed regulatory framework aims to broaden access to essential financial services by permitting licensed non-bank entities—such as payment service providers and money transmission businesses—to deliver basic banking services on behalf of licensed banks and credit unions.

This framework sets out the eligibility criteria for agents and sub-agents, while establishing operational and compliance requirements, and introducing robust consumer protection measures. The framework also emphasises the importance of interoperability, including seamless integration with the Central Bank’s Digital Currency, SandDollar.

The document may be accessed on the Central Bank’s website at www.centralbankbahamas.com or via the following path: Core Functions → Bank Supervision Department → Consultation Documents.

The consultation period will end on 30 June 2025. Feedback regarding the proposed considerations and Guidelines for Agency Banking should be directed to the following:

Policy Unit
Bank Supervision Department
Email: [email protected]