Press Release: The Central Bank of The Bahamas Extends the SandDollar Rebate Programme to AML Foods Ltd.

Published: Friday July 28th, 2023

Press Release

The Central Bank of The Bahamas Extends the SandDollar Rebate Programme to AML Foods Ltd.

The Central Bank of The Bahamas is pleased to announce the extension of its rebate programme to AML Foods Ltd. (Solomon’s Food Stores and Fresh Markets) as part of its ongoing efforts to promote the use of SandDollar for everyday transactions. This initiative provides an opportunity for customers to experience the convenience and simplicity of SandDollar, while earning in-store rewards for their purchases.

Beginning Thursday, 3^rd August 2023, and running every Thursday and Friday through the month of August, customers using their SandDollar-enabled digital wallet at the designated Solomon’s location will have the opportunity to receive instant cash rebates.

Commenting on the engagement, Central Bank’s Governor, John Rolle, stated, “This rebate program showcases the potential of SandDollar in promoting payments efficiency and financial inclusion. As we continue to embrace technological advancements, we invite all residents to experience the convenience, security, ease and benefits of digital payments with SandDollar.

“We appreciate the support of retailers like Solomon’s Food and Fresh Market Stores. Together, we are shaping a more robust non-discriminatory financial ecosystem for The Bahamas.”

How it Works

1. Instant Top-up: On showing their SandDollar-enabled digital wallet at the dedicated booth at each Solomon’s location, customers will receive an immediate $20 credit.
2. Spend and Get More: Customers have the chance to receive an additional $5 rebate if they spend $18 or more in SandDollars in the store. Customers need only return to the booth and show their receipt.

Embracing Innovation and Convenience

The Central Bank has been at the forefront of technological advancements in the Bahamian financial sector. The SandDollar underscores the Central Bank’s commitment to boost financial inclusion and modernise the payments landscape in The Bahamas. With SandDollar, customers can make seamless and secure payments without reliance on physical cash.

Encouraging Local Business Growth

Through the collaboration with AML Foods, the Central Bank aims to promote SandDollar adoption among consumers and merchants alike. This outreach also demonstrates how frontline staff at merchants such as Solomon’s can be trained while advancing general public education about the digital Bahamian dollar. The initiative is also geared at enhancing the digital payment ecosystem, and supporting more inclusive growth opportunities for local businesses.

“We are pleased to partner with the Central Bank to educate the public on the use of the SandDollar. We see this as important, because it promotes more inclusive access to regulated payments for many Bahamians and also facilitates transactional efficiencies around financial services within The Bahamas,” said Renea Bastian, Vice President of Marketing and Business Development, AML Foods Ltd.

Different Locations Each Week

The promotion will be held at a different Solomon’s Food or Fresh Market location each Thursday and Friday throughout August, allowing residents in New Providence to experience the ease and benefits of using SandDollar for everyday purchases.

The Central Bank is committed to providing the best possible experience for SandDollar users and will continue exploring innovative ways to promote the use of the digital Bahamian dollar. For further information and updates on the promotion, members of the public may visit the official website at www.sanddollar.bs or follow the digital currency on social media.

28 July 2023 n