BARBABADOS HAS STRONG regulatory systems in place for its financial services sector.
This assurance was given yesterday by Marlon Yarde, general manager of the Barbados Stock Exchange to a large number of Barbadians now resident overseas.
Yarde told delegates attending the Barbados Network Consultation, on at the Lloyd Erskine Sandiford Centre, about investing in the island and placed special emphasis on the capital markets.
“We have a robust regulatory framework, the Financial Services Commission, which follows best practices. When you invest in the Barbados market, it is one that is very well regulated and [which] demands high standards”, he added.
Yarde gave delegates attending the third Diaspora Conference an overview of the financial instruments available ranging from short term investments such as term deposits, treasury bills and money market accounts to long term ones such as bonds, stocks and shares and mutual funds.
Chief executive officer of the Small Business Association Lynette Holder in her presentation spoke of the tax holidays and fiscal incentives available to people looking to invest, adding that her agency had over the years undertaken some lobbying efforts to ensure there was an enabling environment in place.
The SBA executive said that the SMEs (small and medium sized enterprises) present good opportunities to grow the Barbados economy, and pointed out that medium sized enterprises were well structured and have good governance systems in place.
She also pointed out that access to financing was an issue.
The conference which has attracted Barbadians from across the world ends tomorrow with a consultation involving Prime Minister Freundel Stuart and members of his Cabinet fielding questions from participants. (ES)
