Nearly three dozen officials who played a central role in securing Barbados’ removal from key international financial watchlists were awarded the country’s third-highest honours at State House on Wednesday, marking a milestone in this country’s efforts to maintain its global financial standing.
The ceremony recognised 33 members of the Financial Action Task Force (FATF) Action Plan Implementation Team and the International Business Unit Economic Substance team for their work in leading Barbados off the FATF grey list and the European Union’s blacklist of high-risk jurisdictions.
Barbados was officially removed from the European Union’s list of high-risk third countries on August 5 2025. Earlier in 2024, the island was also removed from the FATF grey list, which resulted in its automatic removal from the United Kingdom’s own list of high-risk third countries.
President Jeffery Bostic praised the awardees for what he described as years of sacrifice and dedicated national service.
President Jeffery Bostic. (Photo Credit: Shamar Blunt/Barbados TODAY)
“I want to offer my sincerest congratulations to you on what I consider to be a very significant achievement,” he said.
President Bostic noted that the award represented the third-highest honour in the Order of Barbados, following the Freedom of Barbados and the Order of the Republic.
“That is something to be very proud of,” he told the recipients.
He also thanked the honourees for their commitment to the country, saying their “years of outstanding dedicated service” and sacrifice had contributed to Barbados’ achievement.
“We all are very proud of what we’ve been able to do and to achieve,” the President added.
Deputy Prime Minister Santia Bradshaw also commended the teams for the long hours and commitment required to secure the removals, which she said had strengthened confidence in Barbados’ international business sector.
“The country owes you a debt of gratitude for the dedication, the commitment, and I’m sure the long hours of unbroken service and sacrifice that you’ve made,” Bradshaw said.
She said the successful removal from the grey and blacklists had helped restore stability and growth prospects within the sector.
“It has allowed us to be able to have investors certainly turning their attention back to Barbados,” she added. “For that, I think we are truly thankful.”
The removals were viewed as major milestones for Barbados, as international listings of this nature can affect investor confidence, cross-border financial transactions, and the overall reputation of a country’s financial system.
(SB)
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