Sunday, April 14, 2024

Idle money ‘not lost’


Share post:

Individuals, businesses and groups with close to a million dollars sitting idle in CIBC FirstCaribbean International Bank accounts can still access the cash even after it’s handed over to the Central Bank of Barbados.
Although they have already been cautioned that the more than $830 000 and contents of safety deposit boxes will be transferred to the Central Bank if not claimed within a 90-day period ending in March, there are provisions for them to recover their funds, according to corporate communications specialist with the Central Bank, Novalene Brewster.
She said claimants would have to go through CIBC FirstCaribbean, providing valid identification to that financial institution, in order to get their hands on their money again.
“Once the bank is satisfied that person is the depositor or account-holder, the bank would reimburse the individual and the Central Bank would then reimburse the bank,” she explained.
Read the full story in today’s SUNDAY SUN.

Previous article
Next article


Please enter your comment!
Please enter your name here

Related articles

Fogging Schedule: April 15 to 19

A number of communities in St Michael and Christ Church will be fogged by the Ministry of Health...

Former Surinamese president Bouterse ineligible to enter United States

The United States on Friday imposed sanctions on former Surinamese President Desiré Delano Bouterse and six former Surinamese...

Gunners failed to fire against Villa

Aston Villa produced an outstanding performance to stun Arsenal at Emirates Stadium and leave Manchester City in pole...

Liverpool’s title hopes hit by loss to Palace

Andy Robertson insisted Liverpool will "keep fighting" despite their Premier League title hopes suffering a huge blow as...