Sand Dollar is the digital version of the Bahamian dollar (B$). Like cash, Sand Dollar is issued by the Central Bank of The Bahamas through authorised financial institutions (AFIs).
A key component of the Central Bank’s vision is to promote a leading financial services industry with a modernized payment system. To that end, we are aiming to:
Increase the efficiency of the Bahamian payments systems through more secure transactions and faster settlement speed.
Achieve greater financial inclusion, cost-effectiveness, and provide greater access to financial services across all of The Bahamas.
Provide non-discriminatory access to payment systems without regard for age, immigration or residency status.
Strengthen our national defences against money laundering, counterfeiting, and other illicit ends by reducing the ill effects of cash usage.
Sand Dollar is the digital version of the Bahamian dollar (B$). Like cash, Sand Dollar is issued by the Central Bank of The Bahamas through authorised financial institutions (AFIs). Sand Dollar allows greater flexibility and accessibility for residents that want to participate in financial services via either a mobile phone application (iOS and Android) or using a physical payment card to access a digital wallet. It also provides an excellent record of income and spending, which can be used as supporting data for micro-loan applications.
There are three ways to send and receive money using this Sand Dollar App. To view the how-to videos, click the links below:
Public access to The Bahamas’ digital currency is projected to increase during the first quarter of 2021, as financial institutions continue to integr...Read More
The Central Bank of The Bahamas digital dollar is available nationwide. Contact us for more detailed information.Read More
Joint event with the Bahamas Chamber of Commerce and Employers ConfederationRead More
The Sand Dollar is on Schedule for Gradual National Release to The Bahamas in Mid-October 2020.Read More
The first Power Breakfast of the year. Under the theme, "PROJECT SAND DOLLAR: A Bahamas Payments System Modernisation Initiative".Read More
PROJECT SANDDOLLAR: A Bahamian Payments System Modernization InitiativeRead More
The need to modernise The Bahamas payments system was acknowledged by the Central Bank of The Bahamas since the late 1990s when the Bank commissioned a special study to identify the available options for The Bahamas and to assist with the initial formulation of a strategy.
The Bahamian Payments Systems Modernisation Initiative (PSMI)
Selecting a Technology Partner
Drive Toward The Pilot