{"id":45770,"date":"2024-03-23T07:09:57","date_gmt":"2024-03-23T07:09:57","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas"},"modified":"2024-03-23T07:55:46","modified_gmt":"2024-03-23T07:55:46","slug":"bob-to-benchmark-in-bahamas","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas","title":{"rendered":"BOB TO BENCHMARK IN BAHAMAS"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Bank of Botswana(BoB) will in April 28, 2024 commence benchmarking mission to Bahamans on digital currency transformation, says the Governor, Mr Cornelius Dekop.<\/b><\/p>\n

Speaking during the tour of BoB by the visiting Bahamian delegation, Mr Dekop said the benchmarking mission was important given that Bahamas had a good reputation with the use of its Central Bank Digital Currency (CBDC) launched in October 2020.<\/p>\n

Mr Dekop said possible areas of collaborations between the two central banks would be in the areas of communication infrastructure as well as formulation of enabling laws required to provide legal certainty for the digital currency.<\/p>\n

He said other areas of interest would be of the commercial banks especially adaptation of their platforms business models, together with operational resilience to mitigate against cybercrime and ensure full compliance with Financial Action Task Force (FATAF) and anti-money laundering.<\/p>\n

He added that the primary mission of BoB was to achieve and maintain price stability, thus the bank remained steadfast in contributing to the stability of the financial system and foster in maintaining a stable, sound and competitive market based financial system.<\/p>\n

\u201cWe have liquid stable and robust banking and financial system in Botswana which also acts as government advisor in policy and economic development,\u201d he said. He said the function of the bank in accordance with discharging its mandate was espoused under Bank of Botswana Act and included formulation and implementation of monitory policy in pursuit of price stability.<\/p>\n

The effective discharge of the bank\u2019s functions, Mr Dekop said, had overtime contributed to social and economic progress in many ways, citing maintenance of the low and stable inflation which protects the value and integrity of the local currency.<\/p>\n

Mr Phillip Davis the prime minister of The Bahamas, said the use of CBDC could reduce the risk of money laundering and terrorist financing through a more transparent digital financial system and expand access to individuals and communities with limited or no access to traditional banking services.<\/p>\n

The promotion of financial inclusion and digital banking, Mr Davis said, leveraged the power of technology to open potential doors to sustainability.<\/p>\n

He said inspired by Bahamas\u2019 pioneering launch of the Sand dollar which is the digital version of Bahamian dollar issued by the Central Bank of The Bahamas, the facets of the blueprint could envision a future in digital banking platforms and extend financial services to every corner of the world.<\/p>\n

Key to that blueprint, he said, was to invest in human capital which underscores the belief that the world greatest asserts is its people. He said joint education initiatives and training programs would equip banking professionals with cutting edge skills needed to ensure that the finance sector remains a key component in economic growth and transformation.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Bank of Botswana(BoB) will in April 28, 2024 commence benchmarking mission to Bahamans on digital currency transformation, says the Governor, Mr Cornelius Dekop. Speaking during the tour of BoB by the visiting Bahamian delegation, Mr Dekop said the benchmarking mission was important given that Bahamas had a good reputation with the use […]<\/p>\n","protected":false},"author":84,"featured_media":45769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-45770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nBOB TO BENCHMARK IN BAHAMAS - Botswana<\/title>\n<meta name=\"description\" content=\"Bank of Botswana(BoB) will in April 28, 2024 commence benchmarking mission to Bahamans on digital currency transforma ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BOB TO BENCHMARK IN BAHAMAS\" \/>\n<meta property=\"og:description\" content=\"Bank of Botswana(BoB) will in April 28, 2024 commence benchmarking mission to Bahamans on digital currency transforma ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-23T07:09:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-23T07:55:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/03\/sm_1711167626.597637.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"532\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BOB TO BENCHMARK IN BAHAMAS\",\"datePublished\":\"2024-03-23T07:09:57+00:00\",\"dateModified\":\"2024-03-23T07:55:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas\"},\"wordCount\":469,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/03\/sm_1711167626.597637.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bob-to-benchmark-in-bahamas\",\"name\":\"BOB TO BENCHMARK IN BAHAMAS - 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