Barbados would have recently adopted the Standard for Automatic Exchange of Financial Account Information in Tax Matters (also referred to as the Common Reporting Standard or CRS). This standard would require states to obtain information from their financial institutions and automatically exchange such information on an annual basis. This global model was backed by the Organization for Economic Cooperation and Development (OECD), the G20 countries in close collaboration with the EU and the other stakeholders.
https://www.investbarbados.org/newsmain.php?view=Barbados%20Takes%20Steps%20to%20Comply%20with%20International%20Standards