Скачать или смотреть Bank Of Guyana: FCB Has No License To Operate In Guyana

The Bank of Guyana confirmed on Thursday that First Citizens Bank entered into a sale agreement to purchase Scotiabank's operations in Guyana, without its consent.

On Wednesday, Scotiabank announced that it had reached an agreement with FCB for the sale of its banking operations in Guyana, but this was not well received by the Guyanese Government.

That country's Finance Minister Dr. Ashni Singh then pointed out that the sale was 'premature and inappropriate' since the regulatory approval and customary closing conditions were not yet initiated with the Bank of Guyana.

According to law, a financial institution cannot enter into an agreement to transfer its assets or operations without prior approval from the body.

A media release from the Bank of Guyana on Thursday stated that First Citizens Bank does not have a license to operate in Guyana, and has not submitted an application to acquire control of a bank operating in that country.