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Finance Leaders on Fintech and what it means for TCI 

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Dana Malcolm 

Staff Writer 

 

#TurksandCaicos, September 15, 2023 – A regulatory structure for FinTech is something that governments and regulators need to be looking at now, before the inevitable boom that is sure to come in the future, this is according to David Oakden, Chairman of the Financial Services Commission (FSC).

“People are scratching the surface and are coming up ill all sorts of applications for financial technology and at some point, we are going to hit a breakthrough and FinTech is gonna take off,” he explained.  “I can see something happening, when this happens we are going to have an industry that is not regulated, that we will have to very rapidly try to come up with some kind of regulation for.”

FinTech encompasses technology that delivers financial services from online banking to money transfers.  Oakden had a rather bleak outlook on its potential impact on the Financial Services Sector.  He described it as ‘companies taking advantage of inefficiencies in the banking system to provide limited services,’ and warned it could constrict the current Financial Services Sector.

“The existing industry is going to suffer a severe reduction in business because of the FinTech competitors,” he warned.

E Jay Saunders, TCI Finance Minister, and Deputy Premier had a different outlook, he says he is intent on harnessing FinTech to make life easier for residents.

“FinTech is an area that we need to promote more, especially as banks are more and more reducing in-person services,” Saunders stressed.  The comment comes as several Turks and Caicos Banks (and banks all over the world) shutter their doors and the ones that remain open have streamlined their processes.

The Turks and Caicos has been a step behind in the financial sector and is now trying to digitize and automate much of its sector.

“Note that FinTech simply means “Financial Technology.” Online banking is an example of FinTech.  So, when I say that we do need to promote FinTech, I’m more talking about the technologies that augment current banking services, thereby making them easier to access and utilize.  In this regard, I have, in my position as Minister of Finance, been pushing the banking association hard to roll out new FinTech services,” Saunders assured.

Bahamas News

Royal Bahamas Police Force – ARRAIGNMENT NOTICE

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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

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

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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

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Bahamas News

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

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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

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