Republic Bank (Guyana) Limited has rejected insinuations that it is not complying with regulatory guidelines governing foreign exchange.
In a statement in Thursday’s edition of Stabroek News, the bank said that it had noted what it said were public statements in media outlets, which it did not identify, surrounding its foreign exchange operations.
The Trinidad and Tobago-headquartered bank said that it categorically refutes all insinuations that it acts in contravention of regulatory guidelines and/or the underlying spirit and intent of those guidelines.
“Republic Bank (Guy-ana) Limited has, through its actions, consistently promoted the long-term development and stability of Guyana’s financial markets.
“Furthermore, Republic Bank (Guyana) Limited complies with all reporting guidelines governing foreign exchange transactions and consequently, the regulatory bodies are equipped with evidence to dispel the untrue statements and insinuations referenced”, the bank said.
Sections of the business community here have complained about the unavailability of foreign exchange at some banks. There have also been suggestions that Trinidadian enterprises are soaking up a significant portion of foreign exchange here for transactions in the Twin-island Republic.
