Manpower is a huge challenge facing Barbados’ Basel II plans, says governor of the central bank

The lack of trained staff is expected to become of critical importance to the country now that preparations for Basel II are in full force, according to the governor of the central bank of Barbados.

The lack of appropriate staff will seriously hinder the bank’s efforts to implement Basel II by 2009, and the situation will worsen when domestic banks move to implement the advanced internal ratings-based approach by 2012.

“Competition for trained staff will place tremendous pressures on the banks’ and the supervisors’ ability to attract and retain staff of the highest calibre. Already, commercial banks are poaching our staff as soon as we train them, and we may have to call a truce, as it can