Financial relief coming

Article by Shawn Cumberbatch

Commercial banks are giving customers financial ease as Barbados prepares for major economic fallout from the coronavirus (COVID-19) pandemic.

The leadership of the credit union movement said they would also be assisting members, who are likely to be affected during the upcoming period of financial uncertainty.

Yesterday, Republic Bank (Barbados) Limited, CIBC FirstCaribbean International Bank, and Scotiabank announced a six-month suspension of loan payments, including mortgages.

Royal Bank of Canada (RBC) outlined a similar policy earlier this week. The relief being offered to individuals and businesses was the subject of discussions with Government.(SC)

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