Bahamas, July 13th 2017: The erasure of physical banks from some islands in The Bahamas was just one of the many points raised at the 17th International Telecommunication Union (ITU) Global Symposium for Regulators (GSR-17). Bahamas played host to the conference when it officially opened at Atlantis, Paradise Island, on Wednesday to the theme, ‘Living in a World of Digital Opportunities.’
ITU is the United Nations specialized agency for information and communication technologies, expanding the benefits of modern communication technologies to communities in an efficient, safe, affordable manner, and further enabling the inter-connectivity that defines modern life.
The matter of physical banks was raised as an IT best practice that could have an impact on the development of The Bahamas, when ITU Secretary-General Houlin Zhao, and, Chairman of URCA, the Commonwealth of The Bahamas Randol Dorsett, collectively raised the matter as a vital point, referring to the closure of bank branches on the Family Islands. The men also remarked on the importance of cyber safety in light of the positioning of The Bahamas for inter-Caribbean reach, and the overall social and financial fabric of the country.
The conference aims at increasing cyber-connectivity world-wide done safely and efficiently while enhancing economic and social development, as well as to properly navigate and manage artificial intelligence.
Brahima Sanou, ITU Telecommunication Development Bureau Director declared Bahamas as the centre of the world for three days, as discussions centred around the critical importance of telecommunications capability in today’s world. The Bahamas was hailed to be one of the main countries other than the United States responsible for boosting ITU.