Guyana Finance Minister slams Scotia for announcing asset sale to FCB
Guyana Finance Minister Dr Ashni Singh -
Guyana’s Finance Minister Dr Ashni Singh has chastised Scotiabank’s “premature and inappropriate” announcement on Wednesday that it will sell its Guyanese assets to Trinidad and Tobago-based First Citizens bank.
In a statement from the Department of Public Information, hours after Scotiabank’s announcement, Singh said the government found the announcement unfortunate, “since section 12 of the Financial Institutions Act stipulates no financial institution may transfer the entire or a substantial part of its operations without prior approval from the Bank of Guyana.