Small Businessman Urges Authorities to Clarify Foreign Currency Regulations in Barbados

A small businessman has urged the authorities to let people know the amount of foreign currency they can take out of Barbados.

It came as a High Court judge stressed that non-compliance with the Exchange Control Authority’s rules could have severe consequences on the stability of an island’s economy.

“I think there should be a way that people know how much they are supposed to travel with ’cause people travel with large sums of money every day. I ask people and they are thinking it’s like US$10 000,” businessman Greg Anderson O’Neal Morris told the No. 5 Supreme Court yesterday.

“A lot of people don’t know. It’s actually US$5000,” he added.

“The Central Bank would release that information. You just go and ask a question and Central Bank will give you all that information,” Justice Pamela Beckles told him.

Morris, 43, the former owner/ manager of the stores ‘Swagga’ and ‘Swagga Kids’, of Regency Park, Christ Church, confessed last month that he attempted to export, from this island to the United States, US$59 150 in his baggage without the permission of the Exchange Control Authority, on March 11, 2012.

He was represented by attorney Damien Sands, while State Counsel Tito Holder appeared for the prosecution.

The businessman-turned-barber also told the court he wanted to give back to society by offering his barbering skills to the community.

“Also as I said, I am a barber. I want to find a way to give back to the community, so I want to work with schools or homes so that I could get a team of barbers to come and do some cuts. I would like to do that,” he said.

Justice Beckles later ordered that he forfeit BDS$50 000 of the money, and returned the balance to Morris.(HLE)