Guyana- Two Banks and a Bartica gold dealer

Two local Guyanese banks (GBTI and Citizens Bank) are involved in a breach of procedure costing one of the banks (GBTI) hundreds of millions of dollars. Saddiqi “Bobby” Rasul deposited local (Citizens Bank) cheques valued at GYD$900M (US$4.3M) with another local bank (GBTI). Staffers apparently effected payments without first allowing the cheques to go through the clearing process and the cheques unfortunately bounced.

A senior manager with GBTI has since been fired and the customer’s accounts have been closed by both banks.

 

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The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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