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Omni expanding throughout Family Islands

Founding Partner of Omni Financial Group Limited Dr. Kenneth Rodgers revealed yesterday that the organization will be expanding its services throughout the Family Islands to offer residents banking services in the wake of commercial banks exiting those islands. The company currently offers its services on Grand Bahama and New Providence.

Speaking at a press conference, Rodgers said Omni’s mission is to provide financial services to the “unbanked and the underbanked”.

He said Omni plans to offer its services in each of the Family Islands within the next 18 months.

The company will continue to provide its current money transfer services in addition to new cash banking services for the Family Islands.

“In this world today, there is what I call creative destruction going on. As you know, the banks are moving out of the Family Islands, and perhaps even The Bahamas; so we, with the help of the IDB (Inter-American Development Bank) and The Central Bank of The Bahamas, will be providing banking services for residents in the Family Islands.”

The announcement comes on the heels of Royal Bank of Canada’s (RBC) consolidation of a number of its locations as part of its “ongoing journey of transformation and innovation”.

Effective March 16, RBC’s Robinson Road branch will be consolidated with its Carmichael Road branch; its John F. Kennedy Drive location with its Carmichael Road branch (effective March 23); its location in Andros Town with its main Bay Street branch (effective March 30); and its Gray’s location on Long Island with RBC’s main Bay Street branch (effective April 13).

Many residents have expressed concerns about not being able to access banking services due to an increased exit of commercial banks in Family Islands.

Rodgers assured that Omni will be able to assist residents on those islands.

“Family Islanders out there, I don’t want you to miss a beat,” Rodgers insisted.

“Don’t worry about a thing, we are on our way.”

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