Democratizing and decentralizing the Haitian banking system by extending its reach from Haiti to the global market, particularly in countries where Haitians are present, would facilitate financial inclusion and strengthen economic ties between Haitians in the diaspora and those at home.
I propose establishing Haitian bank offices in all countries in which Haitians live to meet a dual objective: community cafes and banking centers. These branches would operate like the famous Starbucks coffee chain, providing a welcoming space where Haitians would purchase coffee, tea, and snacks, network, and engage in conversations. At the same time, this framework would allow them to open Haitian bank accounts, facilitating financial transactions, mainly for investing and transferring funds to recipients in Haiti.
To streamline the transfer process, users would link the bank accounts of their country of residence to their Haitian accounts, making sending money home more accessible and efficient. Additionally, exploring the possibility of Haitian banks obtaining routing numbers from the respective countries would significantly reduce or eliminate fees for wire transfers between the two countries’ banking systems, providing a cost-effective alternative to existing services.
These new sites would offer a convenient alternative to money transfer services like Western Union, Unitransfer, or CAM, allowing users to transact directly. To ensure accessibility and convenience, these physical locations would be strategically placed in densely populated Haitian communities.
This initiative would also encourage Haitians living abroad to open bank accounts in their country of residence. They would do this online through their mobile devices or by visiting offices if they were nearby. To assist those unfamiliar with the online account opening, customer service representatives would be available to help with their needs.
While using banking services, customers would enjoy tea or coffee made in Haiti, thus promoting the Haitian economic and cultural presence in America. This dual-purpose office would meet the Haitian diaspora’s financial needs and serve as a cultural bridge, fostering a sense of community and pride among Haitians.
In summary, democratizing and decentralizing the Haitian banking system by extending its reach to the global market would be a crucial step toward financial inclusion and economic empowerment. It would provide a more efficient and cost-effective way to manage finances while promoting culture and the Haitian economy. This initiative would be essential to strengthening the global Haitian community and fostering economic growth in Haiti and abroad.
Bobb Rousseau, Ph.D.