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Savings up

Geralyn Edward

Savings up

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Times may be tough but Barbadians continue to top up on their savings.
And the bulk of their borrowing is for houses and land.
The information came in the recently-released Central Bank of Barbados’ Financial Stability Report, produced by the bank in collaboration with the Financial Services Commission (FSC).
The two entities are responsible for regulating local financial institutions, including banks, credit unions, mutual funds, pension funds and insurance companies.
The largest proportion of the loans being sought from banks and credit unions are mortgages for homes and land.