The head of one of Barbados’ largest credit unions has welcomed the launch of the country’s new national instant payment system, BiMPay, while urging policymakers to address longstanding barriers that continue to limit the growth of the credit union sector.

Speaking at Friday night’s BiMPay launch at the Central Bank of Barbados, Chief Executive Officer of the City of Bridgetown Co-operative Credit Union Limited, Glendon Belle, described the platform as an important step toward greater financial inclusion and efficiency.

“For us, innovation is not measured solely by financial return but by inclusion, access and the tangible improvement of our members’ lives,” Belle said.