Bahamas News
LEAKED, CONFIRMED: Bahamas & TCI CIBC FirstCaribbean branches eliminating in-bank services; “No Longer Necessary”
By Dana Malcolm
Staff Writer
December 2, 2022 – In about a month CIBC FirstCaribbean customers will find their banking services significantly altered as the company moves towards a more streamlined digital experience. The bank confirmed to Magnetic Media is a statement on Thursday that the contents of a leaked internal memo circulating on social media were true.
The memo claimed that come January 3rd, 2023 branches in The Bahamas and TCI would no longer process over-the-counter transactions which can be performed via digital banking channels including Instant Teller/Smart ABM, Night Depository, Online Banking and their Mobile App. The maneuver by CIBC FirstCaribbean eliminates twelve essential services from the over the counter cache of services; the reason cited as ‘simply no longer necessary’ to come in bank for them.
The decision results in the island of Grand Turk being completely without any banks offering over the counter transactions or business; ScotiaBank, in a move to “consolidate” its services in the TCI, shut its banks in Grand Turk and Grace Bay in summer 2018.
Now, CIBC FirstCaribbean informs thousands of clients that they will no longer enter the bank for: Cash and cheque deposits; cheque cashing; corporate and small business deposits; withdrawals under the daily ABM Limit; credit
card payments; bill payments; domestic and international transfers; transfers between CIBC FirstCaribbean accounts; transfers to other CIBC FirstCaribbean clients; 3rd party transfers and opening personal & sole proprietorship deposit accounts openings.
The memo raised concern for residents about the elderly and less tech savvy as well as potential layoffs at the bank. CIBC gave no indication it was closing down, only confirming the switch up, which they say they had been preparing for since the height of the pandemic, in an effort to free up frontline teams and likely reduce the often extremely long queues.
Lines the Turks and Caicos became atrocious during the Covid-19 pandemic with customers queuing in the hot sun and at times putting each other at risk for infection as they waited for service. It also left customers exposed to crime.
Other banks in the country and across the Caribbean Including RBC have taken this sort of approach before resulting in shorter wait times and more convenience as customers do business at their leisure.
It is still growing on many people however, as banking becomes increasingly impersonal.
Addressing the leak as “unfortunate” CIBC said there would be on hand support to ease customers into the new experience.
“We encourage our clients who need additional support to perform transactions on our digital platforms, to reach out to our branch teams, who are there to provide that assistance. Our Digital Banking Officers will be on hand to show clients how to use the ABM to make deposits, transfers or to get cash during the transition. Additionally, our website cibcfcib.com has video tutorials to walk clients through the processes.”
The bank says since the advent of its online banking, significantly less customers are coming in person to make payments anyway.
Bahamas News
National Reference Lab being restored and strengthened to ensure quality and reliability of health data and early warnings of health threats
By Betty Vedrine
Bahamas information Services
NASSAU, The Bahamas — The Royal Bahamas Defence Force (RBDF) has new leadership. Commander Dr. Raymond King, with 38 years of RBDF service, passed the baton to Captain Floyd P. Moxey during an official ceremony held at the Royal Bahamas Defence Force Coral Harbour Base on Thursday, May 8, 2025. Captain Moxey assumed the position of ninth Commander Defence Force.
In attendance were Governor General, Her Excellency the Most Hon. Dame Cynthia Pratt; Prime Minister and Minister of Finance, the Hon. Philip Davis; Minister of National Security, the Hon. Wayne Munroe; cabinet ministers, senators, justices and senior government officials.
Prime Minister Davis thanked Commodore King for his long service and said that Commodore King has been an outstanding contributor to
the nation and wished him well in his future endeavors. He commended Commodore King for leading the nation through several crises, including Hurricane Dorian, unrest in Haiti, and the COVID-19 Pandemic.
He welcomed Captain Moxey and said that he epitomized the essence of what a public servant should be.
“Captain Moxey is, in many ways, what public service ought to look like — not glamorous, not boastful, but honest, professional, thoughtful,” said Mr. Davis. “He started out as a marine mechanic in Mangrove Cay, Andros, worked his way up across 40 years of service, mastering technical operations, legal frameworks, and the complex workings of a national security policy.” The Prime Minister said that history was also being made as for the first time ever, the new Commander will be supported by two deputies, both of whom are females.
Outgoing Commander King thanked his staff, colleagues and family for their support over the course of his career. “As I exit the highest office in this distinguished military, I do so with a sense of pride in the work that we have accomplished together,” he said, describing his leadership style as defined by professionalism, fairness, and service to the public.” Delivering a personal tribute was his wife, retired Force Chief Petty Officer Fredricka King, who serenaded him with the hit, “Never Enough” from The Greatest Showman musical.
Commander Moxey noted his work began immediately with addressing the fleet, which is currently running at just 65 percent capacity — far below the 85 percent target.
“Our operations must be intelligence-driven and forward-looking,” he said. To this end, he pledged to boost patrol rotations, set up small boat stations in key locations, and ensure personnel are well-supported and mission-ready.
Plans were also announced to introduce a family support event and expand welfare programmes. An anonymous feedback system, he said, will give marines and staff a safe channel to raise concerns, reinforcing internal transparency and trust.
“To strengthen capabilities, the RBDF will pursue long-term maintenance contracts, adopt a predictive supply model, and invest in training
for pilots, mechanics, and unmanned aerial vehicle operators.” He confirmed that four new safe boats will soon be commissioned, stationed alongside coastal radar systems to expand surveillance coverage.
“The growing instability in Haiti, where gang violence and political turmoil have displaced tens of thousands, has pushed regional governments — including The Bahamas — to bolster border controls and intelligence operations.” Consequently, Commodore Moxey said the RBDF will deepen partnerships with regional allies like the Turks and Caicos Islands, focusing on intelligence sharing and formal agreements to better manage migrant activity.
He added that a new entry of 150 personnel in May will help address manpower needs.
Commodore Moxey is a distinguished Bahamian military professional and legal expert, with over four decades of experience in various agencies including the Royal Bahamas Defence Force, the Office of the Attorney General, and the Ministry of National Security.
Born in Mangrove Cay, Andros, he joined the RBDF in January 1982. He earned a Bachelor of Laws (LLB Hons.) in 2008 from the University of Wolverhampton and a Certificate of Legal Education from the Eugene Dupuch Law School in May 2011. Four months later, he was called to the Bahamas Bar and was subsequently seconded to the Office of the Attorney General.
In 2017, Commodore Moxey returned to the RBDF and became Staff Officer, Legal Affairs. In October 2021, he was appointed Legal Counsel to the Ministry of National Security. He is an active member of Saint Francis Xavier Cathedral. Married to Theresa Sturrup, Commodore Moxey is the proud father of three children — Marcus, Maurice and Theresa, and a proud grandparent.
The ceremony also included Medal Presentations, Three Cheers/Gun Salute for the outgoing Commander and Inaugural Salute to the incoming Commander, the Presentation of Sword and Commander Defence Force Pennant, and a March Past. The RBDF Band provided entertainment.
A reception followed on the grounds.
(BIS Photos/Letisha Henderson)
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