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CIBC First Caribbean Funds Tech-Driven Education and Empowerment

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Turks and Caicos Islands, 1 March 2023 – With planned stops to Google, Apple, LinkedIn and other Silicon Valley organizations, Turks and Caicos Islands Community College students are California-bound.

During a week-long educational tour, participants will focus on the theme ‘Technology: The Driving Force in Business Success’ and see firsthand the daily operations of successful, international businesses.

As it continues to make advances in modern banking technology, CIBC FirstCaribbean is a platinum sponsor for the tech-driven trip which will have students from Grand Turk and Providenciales campuses.

Terrance Gibson, CIBC FirstCaribbean’s Turks and Caicos Island Country Head, said the bank is a proud sponsor of the educational tour.

“CIBC FirstCaribbean is aware of how valuable exposure is to students during their educational journey. For over five years, Turks and Caicos Community College has, through initiatives such as its Annual Educational Tour, developed well-rounded alumni who are well-versed in various businesses, cultures and experiences.

“The tour’s focus on technology is directly in line with CIBC FirstCaribbean’s successes and aims as a modern digital bank,” Mr. Gibson said.

In more recent times, the bank launched the CIBC FirstCaribbean MasterCard Black Credit Card, smart automated banking machine installations and its 1st Insights Personal Financing Model.

Stacey-Ann Lawrence, Turks and Caicos Community College’s Business Administration Faculty Chair and tour coordinator, underscored that donations toward the educational tour are invaluable.

“Students are eager to participate in the tour which will present them with the opportunity to observe daily operations of businesses not currently incorporated in TCI.”

She continued, “On behalf of my faculty members and the administrators of the college I am extremely grateful for the support we have received from CIBC FirstCaribbean as a platinum sponsor. Your contribution will go a long way in making this educational tour a possibility. Our students need the exposure to international business practices, and we believe this tour will do just that.”

With an aim is to provide the Educational Tour opportunity to 15 to 20 students, Turks and Caicos Islands Community College is still accepting bronze, silver, gold and other platinum sponsorships.

Sponsorships from donors such as CIBC FirstCaribbean have so far confirmed 7 participants.

 

Photo Caption

With assistance from sponsors such as CIBC FirstCaribbean, Turks and Caicos Islands Community College is raising funds to accommodate two dozen students on a technology themed educational tour. L-R: Stacy-Ann Lawrence, Shirlonzo Gardiner, Kahzmea Smith, Terrance Gibson, Irenique Harvey, Dr. Cerease Nevins-Bennett and Vanessa Hall.

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Finance

TCI Financial Services Opens Debate on Cryptocurrency Rules 

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Turks and Caicos, May 12, 2026 – A new era of digital finance regulation could be on the horizon for the Turks and Caicos Islands, as the Financial Services Commission moves to establish a legal framework for virtual assets and cryptocurrency-related businesses.

The TCI Financial Services Commission on Friday launched a public consultation on its proposed Virtual Assets Business Bill, 2026, legislation designed to regulate virtual asset service providers, stablecoin issuers and other digital asset activities operating in or from the territory.

Globally, governments and regulators have been racing to catch up with the rapid growth of digital currencies, blockchain technology and online financial platforms. Concerns over money laundering, cybercrime, fraud and the collapse of poorly regulated crypto exchanges have pushed jurisdictions to tighten oversight while still trying to attract financial innovation and investment.

The proposed TCI bill appears aimed at positioning the territory within that evolving international framework.

According to the FSC, the legislation is aligned with international standards and guidance from bodies including the Financial Action Task Force, International Organization of Securities Commissions and the Financial Stability Board.

The Commission said the bill would introduce a “comprehensive licensing, supervisory, prudential and enforcement framework” for the sector. The proposed law includes anti-money laundering and counter-terrorism financing obligations, cyber resilience requirements, enforcement measures and even a regulatory sandbox intended to support innovation.

Among the notable features are proposed reserve and governance rules for stablecoins, which are digital currencies typically tied to traditional assets like the US dollar. The draft legislation also outlines exemptions for certain technology providers and closed-loop token systems.

The FSC said the consultation period is intended to gather public and industry feedback before the bill is submitted to Cabinet next month. Written submissions must be received by June 8, 2026.

The consultation paper and draft bill have been published on the FSC website for public review.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas News

BAHAMAS RATING UPGRADE: A WIN—BUT NOT A FREE PASS

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The Bahamas, May 4, 2026 – With elections days away, The Bahamas has picked up a headline-friendly win: a credit rating upgrade.

Here’s the one-liner that matters most:

A higher rating can mean cheaper borrowing for the government—over time.

That’s the upside. When lenders see less risk, they demand lower interest. That can ease the cost of financing big projects and managing national debt.

But that’s only part of the story.

Moody’s Ratings has upgraded The Bahamas to Ba3 from B1, citing stronger fiscal discipline, improved liquidity and a more stable funding strategy. It also points to better tax collection, controlled spending and continued strength in tourism as key drivers.

Moody’s expects the government to maintain solid primary surpluses—essentially bringing in more than it spends before debt payments—and projects national debt to decline from 72.5% of GDP to around 68% by 2027.

That’s progress.

But here’s the reality check.

The Bahamas is still below investment grade. In plain terms, the country remains in speculative territory, meaning investors still see a higher level of risk compared to more stable economies.

Debt, while improving, is still elevated. And the economy remains heavily dependent on tourism—a sector that can shift quickly with global conditions, weather events or geopolitical shocks.

Even Moody’s signals that more work is needed. Further upgrades depend on:

  • sustained reductions in debt
  • improved debt affordability
  • and continued access to favourable financing

So while the upgrade reflects real gains, it is not a finish line.

It is a signal that the country is moving in the right direction—but must stay disciplined to keep that momentum.

For voters heading to the polls, the takeaway is simple:

The Bahamas has strengthened its financial position—but the fundamentals still need work.

The progress is real.

The challenge now is to make it last.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Finance

EXTENSION OF CHEQUE COLLECTION DEADLINE FOR THE COST OF LIVING RELIEF PROGRAMME

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Providenciales, Turks and Caicos Islands – 9th July 2025 – The Ministry of Finance, Economic Development, Investment and Trade wishes to inform the public that the deadline for cheque collection for Cost of Living Relief Programme has been extended to 20th July 2025.

IMPORTANT COLLECTION DETAILS

Reprinted Cheques: All stale-dated cheques, that were not collected, have been reprinted.

Collection Start Date: Reprinted cheques will be available for collection beginning 11th July 2025.

Collection Locations: Cheques are to be collected at the various Treasury and Sub-Treasury locations across the islands.

What You Need: Please ensure you bring a valid form of identification and your reference number when collecting your cheque.

REMINDERS

  • Cheques can only be collected by the approved recipient
  • Cheques will not be deposited to any bank accounts
  • Cheque delivery service is still available

A total of 15,615 applications were received of which 14,733 were approved. This translates to a percentage total of 94.4% of applicants being approved to receive the $1,000 grant; 287 applications or 1.8% were flagged as duplicate submissions and 595 or 3.8% of the applications were declined. Of the 15,615 applicants, 10,856 were Turks and Caicos Islands Status Holders and 4,759 were British Overseas Territory Citizens.

To date, 98% of cheques have been collected.

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