Responding to a report in yesterday’s Kaieteur News, the Bank of Guyana (BoG) in a statement said that it had investigated the matter referred to and found no evidence of wrongdoing on the part of Republic Bank (Guyana) Limited.
In its statement, the BoG noted that the report had also suggested that there was inaction on its part.
“The Bank wishes to advise that, subsequent to the receipt of a letter of complaint and request for prosecution of the financial institution, the Bank conducted an examination of the relevant records of the financial institution. Based on the documents and records examined by the Bank of Guyana, no evidence of wrongdoing on the part of Republic Bank (Guyana Limited) was found.
“The examination revealed that the financial institution had taken steps to ensure compliance with the relevant Prudential Supervision Guidelines issued by the Bank of Guyana under the Financial Institutions Act No 1 of 1995.
“In light of the recent article which has the potential to destabilize the financial sector, the Bank of Guyana has found it necessary to issue this press release for the guidance of all parties”, the statement said.
