NASSAU, Bahamas — Calling for a “drastic recalibration” of the domestic banking sector in The Bahamas, Progressive Liberal Party (PLP) Deputy Leader Chester Cooper bemoaned some banks’ “predatory” lending practices, which he said is responsible for perpetuating poverty and blocking some Bahamians from lending for more critical ventures such as start-up businesses, the Nassau Guardian reported September 7.
“The pull out of banks and our response to it needs drastic recalibration,” said Cooper, as he addressed the National Progressive Institute, an arm of the PLP, on Wednesday night.
“We need to increase Bahamian ownership of banks,” Cooper added. “If Bahamians now own the insurance industry, there is no reason we can’t control the banking sector in our own country.” https://thenassauguardian.com/2018/09/07/cooper-some-banks-perpetuating-poverty/
