One week after the Government-owned new bank took over the operations of the two former privately-owned banks in Anguilla, Chief Minister and Minister of Finance, Mr. Victor Banks, told Anguillians that the National Caribbean Commercial Bank (NCBA) is their bank.
The Chief Minister was speaking at the Government’s press conference on Tuesday this week, May 3. “I am pleased to report, as I have reported before, that we have seen real progress in the banking situation,” he said. “It is a decision that our party had to make in the interest of the people of Anguilla in general, particularly the customers of the banks.
Because of the importance of the indigenous banks to this community we felt that it was an important aspect of our overall economy that we should bring a resolution in place.
“It has been a long time in coming. As expected there will be some hiccups – and we have had some hiccups. There are things that one might not have anticipated in the process that may have been overlooked, but at the end of the day it is functioning smoothly – not a 100 percent – but smoothly. We are confident that the issues of concern will be addressed as we move forward.”
The Chief Minister touched on a matter of some concern. “There is, of course, the issue of offshore subsidiaries which have been raised by a number of persons within the community who, from time to time, give you the impression that they are anxious for this banking resolution to fail. We thought it important that the parent companies – the National Bank of Anguilla and the Caribbean Commercial Bank – had to be stabilised…We have a long way to go on these issues. A number of persons have been going in the community and trying to distract attention from the critical aspects of the resolution process.
“The critical aspects include our ability to provide to the customers of Anguilla; respond to the very important commitment that we made to the people of Anguilla that we would have a banking solution that would ensure that customers’ deposits were guaranteed a 100 percent; ensure that the underlying economy would continue to improve so that persons will now get jobs and business opportunities and training opportunities; that the staff of the banks who would be affected by any resolution would have the opportunity to maintain their jobs or taken care of in a fair and equitable manner; and that, at the end of the day, the bank maintains its indigenous character that is, it is owned by the most part by Anguillians or Anguillian entities. The Government of Anguilla, is of course, the supreme Anguillian entity so when the Government owns an institution, organisation or company, it is owned by the people of Anguilla.”
Mr. Banks further said: “I also want to let the customers know that their support is very much appreciated. For the last thirty months they have been very patient and tolerant and now that we are here at this stage, where the bank is moving forward, it is even more important that they give that support for their institution. It is their only National Bank on the island. Your support will make it work. Your support will ensure that it is viable and provide the kind of service you deserve.”
With the banking issue now a calmer atmosphere, other Ministers of the Anguilla Government, still reflecting on their first anniversary of being in office, spoke on a number of other matters.
Minister of Social Development, Mr. Evans McNiel Rogers, said he was now speeding up his fund-raising activities for improving health, education and sports on the island. In addition, he and his Ministerial colleagues were relieved that the Cap Juluca issue was nearing closure as part of tough decisions being taken by Government.
Minister of Infrastructure, Mr. Curtis Richardson, spoke mainly on airport development matters which he continues to pursue, as well as a number of other projects he outlined earlier in his first anniversary in office address.
Mrs. Evalie Bradley, Ministerial Assistant in the Ministry of Home Affairs, spoke on behalf of the Minister, Cora Richardson-Hodge. She reported that with a backlog of applications having been dealt with, her Ministry, as from Tuesday, had begun to accept new applications for permanent residence for non-belongers of Anguilla. She was pleased that the Constitutional and Elections Reform process, led by Justice Don Mitchell, was proceeding smoothly and that public consultations were being planned for later on. She also reported that consultations were taking place on the new Labour Code and that the sessions with various employment organisations were going well.
Parliamentary Secretary, Mr. Cardigan Connor’s main talking point was on matters relating to sports. One matter in particular was that Anguillian sprinter, Zharnel Hughes would be competing in St. Maarten over the weekend, presenting an opportunity for Anguillians to travel there to witness the event. Zharnel is now a member of Team Great Britain.
