The closure of commercial banks particularly in the family islands has opened the way for OMNI Financial Group Limited to expand its business and fill the void in the Financial Services Sector.
Founding partner of the OMNI Group Dr. Kenneth Rodgers yesterday said that OMNI Financial group seeks to provide services especially to Bahamian Small and Medium Enterprises (SME’s).
“Small and medium size businesses in any economy is the bedrock, the backbone of all economic activity.
“In this world today is what I call creative destruction that is going on. As you know the banks are going to be moving out of the Family Islands and perhaps even out of The Bahamas.
“With the help of the IDB and with the blessing of the Central Bank of The Bahamas, we will be providing banking like services for people in the Family Islands,” Dr. Rodgers said.
Dr. Rodgers revealed in a Press Conference that the discussions have already taken place with the Central Bank toward this venture.
We plan to do this in each Family Island over the next 18 months; provide the services we are already providing at the moment as well as cash transferring services for the Family Islands.
“So, Family Islanders out there, I don’t want you to miss a beat, don’t worry about a thing, we are on our way.
“We’ve had a tremendous relationship with Central Bank over the years,” Dr. Rodgers said.
Indicating that the process was not an easy one, Dr. Rodgers confirmed that based on the company’s motto, the OMNI Group is prepared to excel.
“This journey began 13 years ago and it took us five years to get this license to do money transfers.
“Everybody said we would be out of business within six months, but here we are now.
“We are still in business, there is a lot of competition around right not, but they came before, they left and who knows they may go again. But we are going to be here for the duration, because our motto is ‘faster, cheaper, and friendly’,” Dr. Rodgers said.
The OMNI Financial Group Limited operates three companies under one umbrella, which includes Sun Transfer Holdings Limited, OMNI FlashCA$H, and Transfer Solutions Providers Limited.
The group of Transfers has been operating for more than 12 years and was the first stand alone money transfer company in The Bahamas.
