With the Financial Institutions (Amendment) Bill 2018 likely to be passed in the National Assembly today, former President Donald Ramotar believes the possibility that it could be used to sanction banks without them having recourse to the courts has been overlooked.
Ramotar is calling on banks, the banking association, the private sector and the public to familiarize themselves with the Bill and speak up before it is too late as he believes that the move is a calculated bid to target certain banks.
“This bill allows them to arm themselves with powers that will allow them to extort more money from the banks. To let them know who the boss is,” Ramotar told Stabroek News yesterday.
