Monday 15 October, 2018

Central Bank of Barbados focuses on money education

Open Day at the Central Bank of Barbados.

Open Day at the Central Bank of Barbados.

Hundreds participated in the Open Day celebrations on Tuesday to mark the 45th anniversary of the Central Bank of Barbados (CBB).

Members of the public got an opportunity to see first-hand what goes on behind the scenes at the country’s premier financial institution. The Open Day celebrations kicked off around 10 a.m. with displays from various departments within the bank.

 Attendees took special interest in the ‘Take Note’ booth staged by the Currency Division responsible for maintaining an adequate supply of local currency in circulation. The booth included measures the Bank takes to remove counterfeit currency from circulation as well as the CBB’s public education program on spotting fake notes which may pop up at commercial banks and retail outlets.

Participants were given tips on the key features of authentic Barbadian currency and were also warned to keep an eye out for the twenty dollar note as this has been the most popular counterfeited bill in the past.

 

At the Foreign Exchange and Export Credits booth, participants were educated on how Barbados maintains its foreign exchange rates and what limits are set out per consumer under the foreign exchange protocols to ensure that levels stay up to standard.

Other booths on display were the Economic Insight and the Banking and Investment booths which gave tips on buying into government paper in forms such as savings bonds.

Then it was on to the official tour of the Bank, which included a walkthrough of the offices that house the Governor and Deputy Governors of the CBB.

A tour of the Frank Collymore Hall was also included in the Open Day and participants were treated to dressing room and back stage views of the concert hall.   

Other activities for the 45th anniversary celebrations will include a charity 5K Walk/Run on Sunday May 7, starting from the Church Village Green at 4 p.m.