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CIBC Country Manager announces Expansions, Access to loans and new Credit Card during TCI Business Outlook

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Danae Dennie

Staff Writer

 

 

#TurksandCaicos, June 18, 2024 – On June 7th 2024 CIBC’s Country Head, Terrance Gibson, shared that CIBC will be expanding their ABM Network in Grand Turk and South Caicos, modernizing banking and doing a rebrand of the company, at the Inaugural Turks and Caicos Business Outlook.

The theme for this event was “Opportunities for Growth and Inclusion for All TCI Stakeholders.”

Gibson expressed that CIBC will be exploring new financial products and payment solutions. They plan to expand their ABM Network footprint by adding an ABM at the Grand Turk Branch.

When asked about bringing a bank to South Caicos, Gibson said CIBC will mainly be focusing on improving banking services in Grand Turk and Providenciales however an ABM has been approved for South Caicos but a specific timeframe was not given.

He shared that they will be improving their diversity initiatives by allowing their ABMs to have Spanish and Creole language options.

Gibson shared that all banks will engage in electronic funds transfer, to assist with the electronic transfer of money from one bank to the other via computer based systems without direct human intervention.

“This will be a concrete step in transforming TCI into a more cashless society, TCI right now is heavily cash intensive,” said Gibson.

He also shared that the Financial Services Commission (FSC) will be reviewing legislation to ensure financial institutions are provided with regulatory capabilities in order to keep pace with the changes in the global financial sector.

Gibson, during his presentation expressed satisfaction with the goal of CIBC loan stores which allow loans to be applied for and received within minutes. These loan stores have been in operation since last year and the company hopes to allow more consumers to tap into the opportunities at the bank.

Additionally, CIBC plans to launch a Prepaid debit MasterCard in the latter part of the year.

Gibson said “This will be a game changer for companies that issue a large number of cheques to the same persons on weekly or monthly basis, they will be able to obtain a number of prepaid cards for their businesses and assign them to workers and vendors… this will facilitate less administrative work and reduce time lost.”

Gibson shared recent rebranding of the bank is a testament to CIBC’s dedication to adapting to the evolving needs of their clients and the dynamic landscape of the financial service industry, which he also identified will come through growth, innovation and service excellence as part of adopting the CIBC brand.

Gibson encouraged clients to be confident in CIBC’s ability to meet their financial goals and thanked the TCI community for their continued trust and partnership.

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Tim and Henry to the Rescue: A Harrowing Search and Rescue Mission Highlights Need for Marine Vessel in Grand Turk

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#TurksandCaicos, July 12, 2024 – At approximately 2:45 pm on July 12th, a 911 emergency call came in from the police department in Grand Turk, informing Ed Forbes of a distressing situation. Four young adult tourists had gone out on paddle boards off Cork Tree Beach in Grand Turk, when one of them fell off the board and could not get back on. Evidently, they underestimated the wind speed and their own brute strength.

Ed Forbes, co-owner of Exclusive Escapes Grand Turk, played a pivotal role in coordinating the rescue. Responding swiftly to the emergency call, he immediately reached out to the local search and rescue team. His prompt actions and calm demeanor were instrumental in mobilizing the necessary resources.

Within 20 minutes or so, Tim from Emerald Escapes, along with Henry and Kindry from Blue Water Divers, were on the scene. Their experience and swift response were crucial in ensuring the safety of the stranded paddleboarders. Working seamlessly together, they managed to locate and rescue all four individuals without any need for medical attention.

However, this incident also underscores a critical issue that has long plagued Grand Turk: the need for a dedicated marine vessel for search and rescue operations and cruise passengers incidents. Despite numerous promises made to concerned citizens over the years, this vital resource remains unavailable.

The swift response of Tim, Henry, and Kingdry highlights the community’s resilience and dedication, but it also brings to light the gaps in emergency preparedness that could be addressed with better equipment and support.

A dedicated marine vessel would significantly enhance the efficiency and safety of rescue operations, ensuring that responses to such emergencies are even more effective.

Ed Forbes
Concerned Citizen

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Invest TCI Opens New Office in Grand Turk

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PRESS RELEASE

 

Providenciales, Turks and Caicos Islands – July 11th, 2024—Invest Turks and Caicos Islands (Invest TCI) proudly announces the launch of its new office in Grand Turk, located at the Digicel Building on Old Airport Road. The grand opening of the new location occurred on Friday, July 5th, 2024, under the theme “Empowering Enterprises in the Capital.”

The establishment of the new office marks a significant milestone in Invest TCI’s growth strategy. The primary objective of the expansion is to provide enhanced services and support to the business community in Grand Turk. By increasing operational capacity, Invest TCI aims to facilitate sustained growth and success for enterprises within the country.  Beyond economic advancement, this initiative is set to yield substantial community benefits, including the creation of employment opportunities.

The grand opening ceremony attracted a diverse range of attendees, including recipients of the Micro Small and Medium Enterprises (MSME) programme, members of the business community, government officials, and Invest TCI staff. The event was moderated by Mr. Keno Forbes, Vice President of Investor Services. Special remarks were delivered by the Premier, Hon. Charles Washington Misick, who congratulated the InvestTCI team on their hard work and encouraged the community to take advantage of the benefits offered by the new office. He reiterated the government’s commitment to creating a supportive environment for businesses in the Turks and Caicos Islands.

Additional remarks were provided by Invest TCI Chairperson, Ms. Cindy Ewing; Business Advisor, Ms. Lashena Simmons; Director of the Business Support Unit, Mrs. Anissa Adderley; and Vice President of SME, Ms. Alexa Cooper. Their contributions highlighted the collaborative effort and dedication that have driven the success of Invest TCI initiatives.

Expressing her enthusiasm for the new office, Invest TCI CEO, Mrs. Angela Musgrove, stated, “Our vision is clear and compelling: to further empower Invest Turks and Caicos Islands, the agency offers incentives and support that enable more efficient and innovative practices. We are committed to helping businesses thrive, and in doing so, we are helping our entire community.”

Invest TCI recognizes the integral role that Micro, Small, and Medium Enterprises play in the economic and social development of the Turks and Caicos Islands. Through its Business Support Unit, the agency provides comprehensive support services to startups and existing entrepreneurs, ensuring they have the tools and resources to succeed.

The grand opening of the new office in Grand Turk represents a significant step forward in Invest TCI’s mission to support and empower businesses across the islands. The agency looks forward to fostering economic growth and development and ensuring a prosperous future for all.

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LAST AMERICAN TOURIST SENTENCED TO A FINE OF $1500.00 OR SIX MONTHS IMPRISONMENT IN DEFAULT, SHE’S ALSO SENTENCED TO 23 WEEKS IMPRISONMENT SUSPENDED FOR ONE YEAR

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(Thursday, July 11th, 2024) Turk and Caicos Islands – The last of five American tourists arrested in the Turks and Caicos Islands (TCI) for being in unlawful possession of  ammunition could finally leave the TCI today, Thursday, July 11th, 2024.

Sharitta Grier 46 pleaded guilty on 25th June to having two rounds of.38 ammunition in her bags, at the Howard Hamilton International Airport in Providenciales on Monday 13th May, 2024, when leaving the Turks and Caicos Islands after a surprised Mother’s Day vacation trip, from her daughters.

Her Ladyship The Hon. Ms. Tanya Lobban-Jackson agreed with senior defense counsel, Ms. Sheena Mair of F-Chambers that there are exceptional circumstancés in Grier’s case, by this, the court departed from the mandatory minimum sentence of twelve years imprisonment and ordered a lighter sentence of $1500.00 or Six months imprisonment if fine is not paid. She’s also sentenced to 23 weeks imprisonment suspended for one year.

Holding for the office of the Director of Public Prosecution via link was Dr. Angela Terry Brooks, deputy director of the DPP’S office.

The prosecution office did oppose exceptional circumstances and invited the court to impose the mandatory minimum sentence of twelve years imprisonment.

A more detailed court report will follow.

Wilkie Arthur
Court Correspondent
Eagle Legal News Media

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