Both Sides of The Coin: The Story of The Central Bank of Barbados 1972-2017

End Notes 1 For a discussion, see Barclays Bank in the Caribbean: Over 150 years of Service , pp 8-9. 2 Branches were also established in the Danish Virgin Islands and Jamaica, with sub- branches in Curacao, Venezuela and Puerto Rico. 3 For details see Ida Greaves, “Money and Currency in Barbados”, 1951/52 and 1952/53. 4 Notes issued by the West India Bank between 1840 and 1847 were not legal tender. 5 It would be more than three decades before the next wave in the advent of foreign commercial banks. In 1956, a branch of the Bank of Nova Scotia was established. The US presence started in 1968, with First National Citibank, followed by Bank of America in 1969, Chase Manhattan Bank in 1973 and First National Bank of Chicago a year later. 6 Sir Courtney is of the view that the BCCB served the times well since the territories lacked the capacity to manage money. 7 For some discussion, see Central Bank of Barbados, First Annual Report and Accounts, 1972, p.5. 8 See Ministry of Finance and Planning, Financial Statement and Budgetary Proposals , June 30, 1969, pp. 8-9. 9 Advocate-News , June 11, 1971, p.1., “BARROW: Plans for Bank Moving Ahead”. 10 See Statement by the Rt. Hon. E.W. Barrow, Prime Minister and Minister of Finance and Governor of the IMF for Barbados at the Joint Annual Discussion. 11 Mr. Osborne was later appointed a member of the first Board of Directors andMr. Brathwaite appointed senior assistant secretary on secondment to the Bank from its inception. END NOTES 299