Ten professionals with significant experience in financial services, regulation, technology, and community leadership have been appointed to the National Payments Council, a body established under the National Payment System Act. The Council will advise on the regulation, development, and oversight of Barbados’ payments landscape, including playing an important role in the introduction of BiMPay, Barbados’s forthcoming instant payment system.
Those members are
Under the Act, the Council comprises representatives from the Central Bank, the Financial Services Commission, the banking sector and the credit union sector, as well as an individual with experience in business, finance, economics, or law, and someone to represent the interest of consumers. Its mandate includes advising the Central Bank on the regulation and oversight of the national payment system, the setting of operational and technical standards, and the development of new technologies. The members will serve a three-year term, which began on August 1, 2025.