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Money transfer centers in TCI, are they supporting or inhibiting potential economic growth?

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#TurksandCaicos, July 20, 2022 – Shocked but not surprised. This is how I would describe the amount of outgoing remittances from TCI. I never grasped the gravity nor the dynamics of these independent financial outlets until recently. This sector continues to evolve, but not necessarily in the best interest of our country.

Financial remittances have long been recognized as an important developmental vehicle associated with migration.  It is commonly known as the money or goods that migrants send back to families and friends in countries of origin. 

Remittances is a very lucrative business and over the years has been an integral part of the Caribbean culture. It could also be considered a major contributor to the economies in the region.

I would imagine, for some countries, remittance flows for many migrant families can become an economic lifeline. 

New platforms such as online transfer services, digital wallets and mobile money applications are becoming more and more prevalent.  With these online platforms, it will be even more difficult to monitor the true outflow of remittances.

In the latter part of 2019, the Financial Services Commission(FSC) website provided information from three institutions and the numbers were staggering. The institutions are CAM, NCS eMoney Services (which operates as MoneyGram) and The Money Centre by Fidelity, which is also known as Western Union. Vigo®, a Western Union money transfer brand.

According to a report published in 2021 by TCIsun newspaper, despite the downturn in the economy, in 2020, a staggering $105 million USD was sent out of the Turks and Caicos Islands through money transfers.

The FSC figures revealed, the majority of the transactions, $36.3 million was sent to Haiti, followed by $26 million to the Dominican Republic, $11.4 million to Jamaica, $10.3 million to the Philippines, $1.3 million to the Bahamas, $1.2 million to the United Kingdom (UK), $9 million to the United States of America (USA) and $8.1 million to other countries.

Haiti and the Dominican Republic were again the largest receivers of outbound funds, together accounting for over 50 percent of the figures. 

Most remittances are primarily used for consumption, including, for instance the purchases of food, consumer goods, health care and housing.  However, based on the significance of the cash outflow in addition to the increase in illegal immigration, it calls into question the relationship between illegal entry and outgoing remittances.

Due to privacy laws and the way data is collected and reported, it may not provide as much information to identify the true receivers and end users.  With the level of outgoing financial activity, it makes our local banks look like check checking centers or staging area before transfer.

It would be intriguing to see what the remittance figures represented in terms of the impact on total gross domestic product (GDP) for TCI.

As a country, how do we slow down the outflow of funds precisely at a time when we want individuals and businesses to get out there and spend, so more of the money is circulating within our own economy?

As a way to heighten more awareness around this issue, why not set up a think tank committee to conduct a comprehensive study? This could help to determine the driving force behind immigrants not wanting to reinvest a larger portion of their earnings in TCI. 

Generally speaking, owning real estate is a sign of progress for many immigrant families.  Perhaps, the hesitation to invest in this area could be in part due to some local land owners allowing squatting for a nominal fee. 

Furthermore, the lack of adequate code enforcement and or allowing low accommodation standards in the country, this makes it easier for renters to live in substandard housing. 

As a result, there is no compelling need for any real individual investment, while allowing more money to be sent out of the country.

In my opinion, it goes right back to the fundamentals, failure to set strict industry standards, improving housing regulations and inspecting what is expected etc.

Would a more comprehensive immigration reform benefit in one form or another in terms of citizenship eligibility?

Offering Amnesty or any sort of immunity is a quagmire for any country. Although, I believe at some point it will become inevitable in TCI. This is one way to ensure the working class is paying their fair share into the system to offset medical expenses and the cost of other social services. 

With TCI recently introducing a new form of indirect taxation, it is evident that the money transfer sector would be a prime source from which the Ministry of Finance can consider increasing levy on.

The last report that was made available by TCI FSC, the vast discrepancy between total inflows and total outflows underscores the shortcomings of remittance data, and leaves one to believe the loyalty to our country for some is rather marginal.

What would be even more impactful is, if Government required more transparency on these institutions, like source of funds etc. 

Albeit, this will need to be accross the board, to include white-collar workers and capitalist who move money freely through bank wire transfers and drafts.

With TCI having a free enterprise market, pundits would argue there are a plethora of reasons why this would be socially unjust to foreigners. 

Consequently, at the end of the day, you can’t have your cake and eat it too.

I concur with a recent statement made by Premier Washington Misick, in which he said “The TCI has to develop a robust internal economy that allows money to pass through as many hands as possible”. To his point, this is not happening.

The government must create an enabling environment to encourage work permit holders and other foreign nationals to stem the outflow of remittances so more of the money is spent toward productive sectors of our economy.

The burning question is, do we have a bold enough politician with the political will to introduce such initiative in the house of assembly?

My final thought is, in order to leverage the true development benefits of financial and social remittances, a comprehensive and in-depth financial analysis must be done.

I’m afraid that without the ability to reign in this level of outflow activity, over time, it could become damaging to our country’s competitiveness in the world market place or the broader economy.

 

Ed Forbes,

Concerned citizen of Grand Turk 

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Bahamas News

Camp Inclusion tours Nassau Cruise Port

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NASSAU, The Bahamas – Participants of the Ministry of Social Services, Information and Broadcasting’s Camp Inclusion, including the camp’s student advocates, recently toured Nassau Cruise Port in a move designed to produce multiple benefits for the children.

Camp officials said the tour was part of the “moving away” from the old tradition of keeping children with disabilities locked away at home, and towards greater social inclusion for persons with disabilities – especially children.

Facilitated by the Community Affairs Division of the Ministry of Social Services, Information and Broadcasting at the Flamingo Gardens Family Life Centre, the camp is a collaborative effort between the Ministry, its Community Affairs and Disability Affairs Divisions, the Bahamas Coalition of Advocates for Disability Awareness and Service (BaCADAS), and the National Commission for Persons with Disabilities (NCPD). The majority of the Camp Instructors are persons with disabilities.

The Camp is in keeping with the Global Family Day 2024 theme of “Embracing Diversity, Strengthening Families,” and is an extension of the Ministry’s continued efforts to take the lead in ensuring access and inclusion for all — particularly the community of persons with disabilities — in every aspect of society.

Children with different levels and types of disabilities, along with student advocates, participated. Its focus was to ensure that participating youth learn about living with mobility and intellectual disabilities, advocacy, inclusion and accessibility.

Mr. Townsley Roberts, Deputy Executive Secretary of the Secretariat of the National Commission for Persons with Disabilities, said the visit is expected to have a number of expected outcomes.

“It was very important to get the kids out and for them to see parts of the island that they rarely get a chance to experience,” Mr. Roberts said. “It was also an opportunity for them to feel a part of the Bahamian society because many times they are kept at home or just in the classroom (and) so this gives them a chance to spread their wings; an opportunity to dream. You never know, something they saw today can spark their imaginations and some may become artists, want to work in the tourism field or even just to try and experience a cruise. The ability to dream, to feel a part of society, to feel included, is important to the growth of all children, including persons with disabilities.”

Mr. Roberts applauded officials at Nassau Cruise Port for agreeing to the tour, which he said also allowed chaperones to inform the student advocates of some of the aspects that makes a facility accessible and inclusive.

“We are so happy that the Cruise Port allowed us the opportunity to come and tour the facility. As the name of the camp goes, what we are promoting is inclusion — total inclusion in all aspects of Bahamian society including the culture, and the open spaces. We want to make sure that all spaces are accessible and one of the things we know, because we had the opportunity to inspect the cruise port, is that the Port is accessible to persons with disabilities. So why not bring the children – including the student advocates — here as a means of helping them to understand and to witness first-hand what accessibility means and how it, or the lack of accessibility, affects the lives of persons with disabilities.”

Mr. Antoine Munroe, a Camp Instructor and employee of the Disability Affairs Division of the Ministry of Social Services, Information and Broadcasting, said access and inclusion ensures that every person is able to achieve the same outcomes whether in social, educational, or employment settings, and are the best methods of ensuring that persons with disabilities are given the same opportunities to participate in society. He applauded the inclusion of the student advocates in the camp.

“It is a passion of my own to see young people included and exposed to the life of persons with disabilities. Being able to tour the facility gave me an understanding of how I can use my cane to move about with a little assistance and I thought that was very, very smooth. I congratulate those persons who were able to cause this to happen, and also the persons in charge of the Nassau Cruise Port.  I think this is a very good step in the right direction,” Mr. Munroe added.

 

Release: BIS

(BIS Photos/Patrice Johnson)

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Bahamas News

National Commission for Persons with Disabilities gauges ‘accessibility’ at ZNS, BIS as part of ongoing inspection schedule

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NASSAU, The Bahamas – Inspectors attached to the Inspectorate Division of the Secretariat of the National Commission for Persons with Disabilities (NCPD) conducted assessments of the facilities at the Broadcasting Corporation of The Bahamas, and Bahamas Information Services, Tuesday (July 23) as part of their ongoing efforts to ensure that all public facilities, and those private facilities that provide services to members of the public, are accessible for all.

Both entities fall under the remit of the Ministry of Social Services, Information and Broadcasting as does the Secretariat.

The team was headed by Mr. Townsley Roberts, Deputy Executive Secretary, Secretariat of the National Commission for Persons with Disabilities, and included Mr. G. Michael Ellis, Senior Inspector; Mr. Wesley Paul, Inspector; and Mr. Thorne Clarke, Inspector.

Deputy Executive Secretary Roberts said the inspections were two-fold.

“Today we are inspecting ZNS and BIS which are both a part of the Ministry of Social Services, Information and Broadcasting to ensure that they are accessible because it is our belief that we cannot ask the public to do the things required by law without first ensuring that our entities are also in compliance,” Mr. Roberts said.

“People need to understand that accessibility to persons with disabilities is just as important as it is to persons without a disability. We want to be able to go about your day-to-day business without any obstacles in our way.

“What makes us disabled is the built environment, the barriers in front of us. If you remove those barriers, then we can do many of the same things persons without disabilities can do, and sometimes better. So this is what we are about. We are trying to make The Bahamas a place for all persons (and) where it will be comfortable for persons with disabilities to be able to manoeuvre through buildings and other spaces with the same ease and comfort expected by everyone else.”

The inspection team conducted assessments of wheelchair ramps, bathrooms, office spaces, and parking and reception areas, and measured doorway and hallway widths, in addition to other spaces to ensure that the requirements as set out in the Persons with Disabilities (Equal Opportunities) Act, 2014, are met.

Mr. Ellis, who spent 34 years as a member of the Royal Bahamas Police Force before retiring as a Senior Police Officer and who brings that same knowledge of the law to his new role, said the inspections help to ensure that the community of persons with disabilities enjoy the same rights to accessibility as any other citizen.

“Persons with disabilities, including those in wheelchairs, persons with walkers, crutches and those who use other assistive devices such as canes, should be able to move around just like everyone else,” Mr. Ellis said.

“We were looking to make sure that there were accessible bathrooms for both males and females, to ensure that there are proper ramps and that the ramps are the proper sizes, to ensure that all of the offices are accessible and all of the other areas are accessible for persons with disabilities.

“The Act says whatever we, as able bodied persons can do, a person with a disability should be permitted or allowed to do the same without any hindrance. Our job is to ensure that these facilities are in compliance with the Act.”

Once inspections are completed, Adjustment Orders are sent to those facilities/businesses found not to be in compliance with the Act, advising them of any faults, and providing a time-frame for compliance.

 

(BIS Photos/Anthon Thompson)

Release: Bahamas Information Services

 

PHOTO CAPTIONS

 

Header:  – ZNS/BCB

Left to right:

1:  G. Michael Ellis – Sr. Inspector (NCPD)
2:  Thorne Clarke – Inspector (NCPD)
3:  Townsley Roberts – Deputy Executive Secretary (NCPD)
4:  Wesley Paul – Inspector (NCPD)
5:  Carlton Smith – Chief Security Officer (BCB)

Insert:  – BIS
Left to right:

1:  Elcott Coleby – Director General (BIS)
2:  Wesley Paul – Inspector (NCPD)
3:  Townsley Roberts – Deputy Executive Secretary (NCPD)
4:  Carlton Smith – Chief Security Officer (BCB)
5:  Thorne Clarke – Inspector (NCPD)
6:  G. Michael Ellis – Sr. Inspector (NCPD)

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Crime

Shooting Incident

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***MEDIA RELEASE***

 

July 23rd, 2024.

 

Around 10:59 am, the Police Control Room received a call of gunshots at a location along the Millennium Highway, Providenciales.

Officers of the Royal Turks and Caicos Islands Police Force were dispatched and, based on preliminary investigations, were told that the occupant (s) of a red Suzuki Swift was at a business place when another car pulled alongside it, and the occupants started shooting.

The driver of the Swift drove off while the other unidentified vehicle sped off in a separate direction. 

Officers found the Swift abandoned near Miracle Close, Blue Hills, shortly after.

Based on investigations, no injuries were reported.

This remains an active investigation.

The RT&CIPF is asking anyone with information or CCTV footage of the shooting that may assist the police with enquiries to contact 911, the closest police station, the Serious Crime Unit at 231-1842, or call Crime Stoppers at 1-800-8477 and anonymously give any information.

Additionally, persons are being asked to download the Crime Stoppers P3 app.

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