Share This On:
(ANTIGUA OBSERVER) — The Eastern Caribbean Central Bank (ECCB) has approved the sale of Scotiabank’s operations to Trinidad & Tobago’s Republic Financial Holding Limited (RFHL) in several countries of the sub-region, minus Antigua and Barbuda.
But this has in no way fazed Prime Minister Gaston Browne, who says the twin island is now in a better position than before.
“In the first instance, the only leverage that we had would have been not issuing the vesting order. Now we’re in a better position because, guess what? They neither have approval from the Central Bank nor would they get the vesting order. So our position is even stronger today [Saturday] than it was two days ago,” Browne, who is also the country’s finance minister, said.
The ECCB disclosed the information in a release on Saturday, stating that it has, “in consultation with the ECCB Monetary Council, approved the application for the transfer of the assets and liabilities of the Bank of Nova Scotia (BNS) to the Republic Financial Holding Limited (RFHL) in Anguilla, Dominica, Grenada, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines, pursuant to Section 43 of the Banking Act””
The release added that “discussions on the future of Scotiabank’s operations in Antigua and Barbuda are ongoing”.
- PM Chastanet promises super-rich Saint Lucia citizenship in three months November 18, 2019 11:55 AM
- Guy Joseph shoots down reports of complete St. Jude Hospital demolition November 18, 2019 10:26 AM
- Central Statistical Office launches Census 2020 recruitment drive November 18, 2019 12:16 AM
- Saint Lucia gov’t launches programme to boost local production of 7 key fruits, vegetables November 17, 2019 9:50 PM
- Fuel prices change November 17, 2019 7:00 PM
- Kindergarten registration takes on a new approach November 17, 2019 12:51 PM
- Two in custody in connection with Mon Repos businessman’s death November 12, 2019 11:08 AM
- Saint Lucia calls up UK-based goalkeeper Lamar Johnson November 12, 2019 10:46 AM
- Tourism ministry spearheads plan to ease traffic congestion in downtown Castries November 12, 2019 10:04 AM