Geographic fragmentation cannot assure that the private sector, acting alone, would achieve the level of inclusion and access which all communities in The Bahamas deserve.10 This instrument is intended to complement and not replace existing banking services. Its use will be optimised when persons in remote communities are able to deploy it to establish and maintain deposit accounts and other services at banks.
Those who use central bank sponsored digital wallets would not see their funds treated as interest bearing deposits.11 However, the Central Bank will explore future innovations that would allow mobile wallets holders to invest in Government securities.