Connect with us

News

KPMG Analysis unearths truth about TCI Financial Services Sector, now Gov’t ‘priming the pump’ says Minister Saunders

Published

on

By Deandrea Hamilton

Editor

 

#TurksandCaicos, March 22, 2022 – The Minister of Finance E. Jay Saunders, like his predecessor Premier Washington Misick has made it no secret that they are convinced the Financial Services Sector could be an bigger earner for the Turks and Caicos Islands.

In the House of Assembly last week, the Minister uncorked the truth found about the country’s #2 industry and it pointed to tremendous opportunity to grow it, or in other words, there is tremendous underperformance.

“Mr. Speaker, sticking with finance sector, in late January 2018, the then Government undertook a strategic analysis of the TCI’s financial services sector, believing that the TCI has a fair opportunity for growth in this sector.  The consultancy was conducted by KPMG Ltd.

Mr. Speaker. KPMG’s report indicated that our financial services sector is in dire straits, and that it is in need of investments and promotion to save it…”

The report he said made not just a few, but nearly 50 recommendations.

“… if we want it to be a viable contributor to the country’s GDP going forward. Forty-nine (49) recommendations are included in the report, one of which was to develop and implement a marketing strategy for the sector.”

The Financial Services Sector is another of the peculiar areas of governance for the Turks and Caicos Islands.  On the marketing and growth of the sector side, the oversight and management comes from the Ministry of Finance.  However on the regulations side, this is the remit of the TCI Governor.

The way forward for the Financial Services Sector is simply ‘growth’ in what is an industry currently generating $240 million in revenues, according to Benjamin Durham, Invest Turks and Caicos Agency Business Analyst.

From the Minister, there was a major announcement:  “Mr. Speaker, I am happy to say that on the 16 February 2022, Cabinet approved the signing of a Memorandum of Understanding between the Government and TCI Finance Limited to implement the aforementioned Marketing and Strategic plan in order to grow our Financial Services industry. Mr. Speaker, our Government is “priming the pump” of our financial service sector, and we’re seeking to aggressively grow our market share.”

Bahamas News

Royal Bahamas Police Force – ARRAIGNMENT NOTICE

Published

on

The Bahamas, August 27, 2026 – The Royal Bahamas Police Force wishes to inform members of the public that several individuals are scheduled to appear before the Magistrate’s Court on Thursday, 27th August 2026, at 12:00 noon.

The individuals and charges are as follows:

An 18-year-old female is scheduled to be arraigned on the following charges:

Three (3) counts of Murder
Three (3) counts of Attempted Murder
Three (3) counts of Possession of a Firearm with Intent to Endanger Life
Three (3) counts of Possession of an Unlicensed Firearm
Two (2) counts of Possession of Ammunition
Armed Robbery
Abetment to Armed Robbery
Stealing
Receiving

The charges stem from three separate shooting incidents and an armed robbery that occurred on Friday, 21st August 2026, and Saturday, 22nd August 2026.

The first shooting occurred in the area of Soldier Road and Baillou Hill Road, resulting in the death of a 51-year-old male.

The second shooting occurred in the area of Joe Farrington Road, resulting in the death of a 52-year-old male.

The third shooting occurred in the area of Gladstone Road, resulting in the death of a 36-year-old male.

The armed robbery occurred at a business establishment in the area of Carmichael Road and Baillou Hill Road.

A 21-year-old male is scheduled to be arraigned on one charge of:

  • Murder

The charge stems from a shooting incident that occurred on Tuesday, 21st July 2026, in the area of Samson Street, Nassau Village, which resulted in the death of a 28-year-old male.

A 32-year-old male is scheduled to be arraigned on the following charges:

  • Murder
  • Attempted Murder

These charges stem from a shooting incident that occurred on Wednesday, 24th December 2025, in the area of Graham Drive, Yellow Elder, which resulted in the death of a 25-year-old male.

 

RBPF, PACD

Continue Reading

News

Saunders Tells Caribbean Media: Be Seen, Be Heard – But What About TCI

Published

on

by Deandrea Hamilton | Editor

 

PROVIDENCIALES, TCI — In a country where government press conferences are virtually non-existent, ministers are often difficult for journalists to access and regular broadcast television news has disappeared, TCI Innovation, Technology and Energy Minister E. Jay Saunders has challenged Caribbean media to become “impossible to ignore.”

Speaking at the Caribbean Broadcasting Union gathering, Saunders argued that the Caribbean does not have a relevance problem but a “discoverability and positioning problem.”

Discoverability is precisely the issue in Saunders’ home country. Even Government’s own attempts at video news broadcasting have struggled against the realities of consistently producing a daily, weekly or even monthly newscast.

The difficulties confronting TCI media extend well beyond algorithms: limited advertising revenue, underfunding, shortages of trained professionals and insufficient human capacity leave newsrooms struggling for both staff and stamina.

Then there is the reality of operating in one of the region’s smallest societies. Politicians, journalists, advertisers, businesses and the subjects of stories often exist within the same tight economic and social circles. A controversial report that might create a ripple elsewhere can produce a tsunami in TCI, intensifying concerns among journalists about commercial and professional victimisation.

Saunders believes AI can help.

He urged Caribbean media to use the technology to transform one original story into television, radio, web, podcast, social and translated content without multiplying newsroom workload.

He also wants regional journalism structured so AI systems can find, understand and trust Caribbean sources, moving media beyond traditional SEO into Answer Engine Optimisation.

His ultimate message was emphatic: “Use AI not to make Caribbean media more artificial — but to make Caribbean voices more visible.”

For Turks and Caicos media, however, becoming visible may require more than technology. It requires an environment in which journalism can survive.

That last sentence is where I think we land the plane. It acknowledges that EJ actually has some us

Continue Reading

Bahamas News

Bahama Brass Band Invitation Sparks Heritage Debate Ahead of TCI Constitutional Holiday

Published

on

Turks and Caicos, August 20, 2026 – The planned participation of the Bahama Brass Band in the Turks and Caicos Islands’ inaugural Constitutional Holiday celebrations on August 30 has sparked public debate over culture, heritage and the historical contributions of Turks and Caicos Islanders abroad.

Organizers defended the invitation, saying the band’s inclusion is intended to highlight the deep historical ties between the two countries and honor Turks and Caicos men who helped establish and develop the institution in Grand Bahama.

According to the organizers, the Bahama Brass Band began in 1955 in Pine Ridge, Freeport, with Turks and Caicos Islanders, including the late Deacon Reuben Hall Sr. of Middle Caicos and Jenkins Williams and Mervin Hendfield of North Caicos, among those who helped build its foundation. The band eventually grew to more than 50 men.

The organizers also pointed to the participation of Turks and Caicos men in The Bahamas’ Independence celebrations on July 10, 1973, arguing that their contributions became part of Bahamian history while maintaining strong connections to their homeland.

Supporters say bringing the band home represents an opportunity to honor those pioneers, showcase their regional influence and expose younger generations to an important part of Turks and Caicos history.

However, concerns raised publicly described the invitation as potentially disrespectful to local culture and heritage. Organizers acknowledged those concerns, apologizing to anyone who felt overlooked or offended, while maintaining that no disrespect was intended.

The committee said the event should ultimately unite rather than divide, presenting the band’s history as evidence of the reach and resilience of Turks and Caicos heritage.

PHOTO CREDIT: Bahamas Brass Band

Continue Reading

FIND US ON FACEBOOK

TRENDING