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

35 Barbadians who had gained much relevant experience from working with the ECCA. Among those recruited from that organisation during 1973 was Marion Williams, (later Dr.), who eventually became the Bank’s fifth governor. Several of the 1973 recruits were assigned to the Banking and Currency Department. As a result, at the end of 1973, that department, along with the Secretariat, accounted for 28 of the 46 employees. During 1974, emphasis was placed on building up the expertise in economic research and the administration of exchange control and, consequently, the relevant departments absorbed most of the 29 additional employees. Among the Research Department recruits that year were Abdul Rahman Mehter, the first national of East Indian origin to work at the Bank, and Winston Cox, who would become the Bank’s fourth governor in 1997. Staff increases in l975 were absorbed mainly by the Banking and Currency Department and the Secretariat. The available jobs in Banking and Currency were mainly entry-level positions but the Secretariat offered vacancies for more senior posts. When the first phase of recruitments ended in 1975, just under half of the 92 employees were concentrated in the Secretariat and the Banking and Currency Department. Exchange Control and Research accounted for the majority of the others. Chapter 2: The Early Years: 1972 - 1975 1972 1973 1974 1975 9 46 75 92 8 12 17 21 1 6 7 10 N.A. 16 19 23 N.A. 5 11 17 N.A. 7 17 17 N.A. N.A. 4 4 Year Total Secretariat Accounts Banking and Currency Exchange Control Research Bank Supervision DEPARTMENTAL DISTRIBUTION OF STAFF (1972 - 1975) Source: Central Bank of Barbados, Annual Reports , 1972-1975. N.A.: Not Applicable. TABLE 1