Mottley Slams Regions Banking Sector; “They are Working Against Citizens”

Barbados Prime Minister Mia Mottley

Barbados Prime Minister Mia Mottley says the banking sector within the Caribbean has been less than dynamic and continues to work against its citizens.

Mottley was delivering remarks at the annual Afrexminbank’s conference

She is not the only leader to level criticisms against the baking sector within the Caribbean

Mottley is restating the sentiments of Prime Minister Gaston Browne who has been consistently criticizing the banking institutions in the region for their overly rigid and unreasonable protocols.

“We go to the same banks in Canada, and we open an account in ten minutes. Because of the pressure put on Caribbean countries with the loss and threat of corresponding banking, it takes two to three months, even if you are an individual heading an organization for which the risks are seemingly less. This is unacceptable,” she said

Mottley said Caribbean people cannot continue to be financial leopards

“When I was 16, I walked into the Royal Bank of Canada and I opened an account. Nobody asked me about utility bills, nobody asked me a whole host of questions, and while I understand the need for due diligence, I know it can be done far better with competition,” she said