{"id":144815,"date":"2019-01-09T05:30:50","date_gmt":"2019-01-09T10:30:50","guid":{"rendered":"https:\/\/www.ict-pulse.com\/?p=144815"},"modified":"2019-01-10T17:32:46","modified_gmt":"2019-01-10T22:32:46","slug":"ictp-037-driving-fintech-development-government-policy-side-michelle-doyle-lowe-central-bank-barbados","status":"publish","type":"post","link":"https:\/\/ict-pulse.com\/2019\/01\/ictp-037-driving-fintech-development-government-policy-side-michelle-doyle-lowe-central-bank-barbados\/","title":{"rendered":"ICTP 037:  Driving fintech development from the government\/policy side, with Michelle Doyle-Lowe of the Central Bank of Barbados"},"content":{"rendered":"<p><em>It should perhaps come as no surprise that blockchain, cryptocurrency, digital currency, along with other fintech products and services, are still looming large across the Caribbean region. To continue the conversation we started towards the end of 2018, but from a different perspective, and in our first interview for 2019, we discuss the fintech initiative in Barbados that is being spearheaded by the Central Bank of Barbados, with its Acting Deputy Governor, Michelle Doyle-Lowe.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https%3A\/\/api.soundcloud.com\/tracks\/556233384&amp;color=%23ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true\" width=\"100%\" height=\"166\" frameborder=\"no\" scrolling=\"no\"><\/iframe><\/p>\n<p><strong>This episode is also available in\u00a0<a href=\"https:\/\/itunes.apple.com\/us\/podcast\/ict-pulse-podcast\/id1373550291\" target=\"_blank\" rel=\"noopener\">Apple iTunes<\/a>\u00a0and on\u00a0<a href=\"https:\/\/www.stitcher.com\/podcast\/ict-pulse-podcast?refid=stpr\" target=\"_blank\" rel=\"noopener\">Stitcher<\/a>!<\/strong><\/p>\n<p>Welcome to back to the ICT Podcast and our very first episode for 2019!<\/p>\n<p>Based on all of the work done up to 2018, it appears that the financial technology (fintech) industry is beginning to gain momentum in the Caribbean region. Towards the end of last year, <a href=\"http:\/\/bit.ly\/2raCC76\" target=\"_blank\" rel=\"noopener\">we interviewed Gabriel Abed<\/a>, one of the Co-Founders of the fintech firm, Bitt, and discussed not only the company, but also his thoughts and advice on how entrepreneurs and the average consumer could capitalise on the fintech-related opportunities that are emerging.<\/p>\n<p>In terms of Caribbean countries trying to capitalise on the benefits fintech can offer, Barbados has been eager to do so generally, and also in light of the growing economic and fiscal pressure it has been facing. To that end, the country has been one of the first out of the gate, and through its Central Bank and Financial Services Commission, a regulatory sandbox has been established to observe and monitor fintech firms that wish to operate in Barbados.<\/p>\n<div id=\"attachment_144822\" style=\"width: 310px\" class=\"wp-caption alignright\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-144822\" data-attachment-id=\"144822\" data-permalink=\"https:\/\/ict-pulse.com\/2019\/01\/ictp-037-driving-fintech-development-government-policy-side-michelle-doyle-lowe-central-bank-barbados\/michelle-doyle-lowe-central-bank-of-barbados\/\" data-orig-file=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2019\/01\/Michelle-Doyle-Lowe-Central-Bank-of-Barbados.jpg?fit=609%2C640&amp;ssl=1\" data-orig-size=\"609,640\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;Marniko Media&quot;,&quot;camera&quot;:&quot;Canon EOS 7D Mark II&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1519651885&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;73&quot;,&quot;iso&quot;:&quot;125&quot;,&quot;shutter_speed&quot;:&quot;0.01&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Michelle Doyle-Lowe (Central Bank of Barbados)\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Michelle Doyle-Lowe&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2019\/01\/Michelle-Doyle-Lowe-Central-Bank-of-Barbados.jpg?fit=285%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2019\/01\/Michelle-Doyle-Lowe-Central-Bank-of-Barbados.jpg?fit=609%2C640&amp;ssl=1\" class=\"wp-image-144822\" src=\"https:\/\/i0.wp.com\/fgd.dfv.mybluehost.me\/.website_c81a1e61\/wp-content\/uploads\/2019\/01\/Michelle-Doyle-Lowe-Central-Bank-of-Barbados.jpg?resize=300%2C315&#038;ssl=1\" alt=\"\" width=\"300\" height=\"315\" srcset=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2019\/01\/Michelle-Doyle-Lowe-Central-Bank-of-Barbados.jpg?w=609&amp;ssl=1 609w, https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2019\/01\/Michelle-Doyle-Lowe-Central-Bank-of-Barbados.jpg?resize=285%2C300&amp;ssl=1 285w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-144822\" class=\"wp-caption-text\">Michelle Doyle-Lowe<\/p><\/div>\n<p>In continuing our exploration of the blockchain, cryptocurrency, digital currency space in the region, we are now focusing on the government\/policy side. Our guest for our very first episode of 2019 is Michelle Doyle-Lowe, the Acting Deputy Governor of the Central Bank of Barbados.<\/p>\n<p>With a background in Economics, Mrs Doyle-Lowe has worked at the Central Bank of Barbados for several years in a variety of roles, and was appointed the Acting Deputy Governor in 2017. Thanks to her leadership role at the Central Bank, she not only provides comprehensive insight into what the Bank, and by extension Barbados, hopes to achieve in the fintech space, but she can also speak authoritatively on the Bank\u2019s efforts, and the desired outcomes in that regard. Hence, some of questions she answered during our conversation included the following:<\/p>\n<ol>\n<li>What does a Central Bank do?<\/li>\n<li>Why is the Central Bank so interested in blockchain, and the wider fintech scene?<\/li>\n<li>What does the Bank hope blockchain\/fintech will achieve in Barbados?<\/li>\n<li>Are there any particular areas in the fintech space that the Bank is especially keen to see develop?<\/li>\n<li>Does the Bank have any interest in creating a digital currency? And if yes, when might it come one stream?<\/li>\n<li>What is a Regulatory Sandbox, and what is it supposed to do?<\/li>\n<li>For how long will the Sandbox run? Is there a timeframe within which applications ought to made?<\/li>\n<li>What criteria or requirements must be met in order to participate in the Sandbox?<\/li>\n<li>So far, what has been the interest in being subject to the Sandbox?<\/li>\n<li>How does the fintech initiative that the Bank is promoting complement, or is aligned with, the wider national developmental plan for Barbados?<\/li>\n<li>Looking into 2019, what can we expect in Barbados\u2019 fintech space? Are there any specific programmes or milestones of which we should be aware?<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p>We would love to hear your thoughts!<\/p>\n<p>Do leave us a comment either here beneath this article, or on our <a href=\"https:\/\/www.facebook.com\/ICTPulse\/\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> or <a href=\"https:\/\/www.linkedin.com\/company\/ict-pulse-consulting-limited\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a> pages, or via Twitter, <strong><a href=\"https:\/\/twitter.com\/ICTPulse\" target=\"_blank\" rel=\"noopener\">@ICTPulse<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<h3>Select links<\/h3>\n<p>Below are links to some of the organisations and resources that either were mentioned during the episode, or otherwise, might be useful:<\/p>\n<ul>\n<li><a href=\"http:\/\/www.centralbank.org.bb\/\" target=\"_blank\" rel=\"noopener\">Central Bank of Barbados<\/a><\/li>\n<li><a href=\"http:\/\/www.fsc.gov.bb\/index.php\/en\/\" target=\"_blank\" rel=\"noopener\">Financial Services Commission<\/a><\/li>\n<li><a href=\"http:\/\/www.centralbank.org.bb\/regulatory-sandbox\" target=\"_blank\" rel=\"noopener\">Barbados\u2019 Regulatory Sandbox Framework<\/a><\/li>\n<li><a href=\"http:\/\/www.finra.org\/industry\/anti-money-laundering\" target=\"_blank\" rel=\"noopener\">Anti-Money Laundering (AML)<\/a><\/li>\n<li><a href=\"https:\/\/www.investopedia.com\/terms\/c\/combating-financing-terrorism-cft.asp\" target=\"_blank\" rel=\"noopener\">Combating the Financing of Terrorist Activities (CTFA)<\/a><\/li>\n<li>Invest Barbados article, <em><a href=\"https:\/\/www.investbarbados.org\/newsmain.php?view=CryptoCaribbean%20The%20Worlds%20Most%20Idyllic%20Blockchain%20Sandbox\" target=\"_blank\" rel=\"noopener\">Crypto-Caribbean: The World&#8217;s Most Idyllic Blockchain Sandbox<\/a><\/em><\/li>\n<li>Central Bank of Barbados press release, <em><a href=\"http:\/\/www.centralbank.org.bb\/news\/article\/9433\/central-bank-of-barbados-and-financial-services-commission-announce-the-establi\" target=\"_blank\" rel=\"noopener\">Central Bank of Barbados and Financial Services Commission Announce the Establishment of a Regulatory Sandbox Framework<\/a><\/em><\/li>\n<li>Mondaq article, <em><a href=\"http:\/\/www.mondaq.com\/x\/736106\/fin+tech\/Barbados+Chance+To+Lead+In+DLT+Innovation+Is+Now\" target=\"_blank\" rel=\"noopener\">Barbados&#8217; Chance To Lead In DLT Innovation Is Now<\/a><\/em><\/li>\n<li>Barbados Today article, <em><a href=\"https:\/\/barbadostoday.bb\/2018\/09\/19\/e-currency-pilot-coming\/\" target=\"_blank\" rel=\"noopener\">E-currency pilot coming<\/a><\/em><\/li>\n<li>Invest Barbados article, <em><a href=\"https:\/\/www.investbarbados.org\/newsmain.php?view=Fintech%20%20Central%20to%20Barbados%20Economic%20Growth\" target=\"_blank\" rel=\"noopener\">Fintech \u2013 Key to Barbados\u2019 Economic Growth<\/a><\/em><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><em>Image credit:\u00a0\u00a0David McBee\u00a0(<a href=\"https:\/\/www.pexels.com\" target=\"_blank\" rel=\"noopener\">Pexels<\/a>); Central Bank of Barbados<\/em><\/p>\n<p><em>Music credit:\u00a0 Ray Holman<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It should perhaps come as no surprise that blockchain, cryptocurrency, digital currency, along with other fintech products and services, are still looming large across the Caribbean region. To continue the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":144818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[355],"tags":[71,205,358,204,357],"class_list":["post-144815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcast","tag-businesses","tag-entrepreneurship-2","tag-financial-technology","tag-innovation-2","tag-interviews","et-has-post-format-content","et_post_format-et-post-format-standard"],"jetpack_publicize_connections":[],"aioseo_notices":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2019\/01\/Dollars-Coins-Bitcoint-Currency-Notes-David-McBee-Pexels.jpeg?fit=1024%2C768&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p2iE1G-BFJ","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/posts\/144815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/comments?post=144815"}],"version-history":[{"count":5,"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/posts\/144815\/revisions"}],"predecessor-version":[{"id":144840,"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/posts\/144815\/revisions\/144840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/media\/144818"}],"wp:attachment":[{"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/media?parent=144815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/categories?post=144815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ict-pulse.com\/wp-json\/wp\/v2\/tags?post=144815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}