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ISSUE 147 Friday 11th MARCH, 2016<br />

Page 13<br />

BANKING ON TRUST<br />

- it’s a very hard thing to expect but FCB must come clean<br />

Story by JACK WARNER<br />

The national conversation<br />

now taking<br />

placing as a result<br />

of Camille Robinson-Regis’<br />

$93,000 deposit is of concern<br />

to many sectors of our<br />

community.<br />

As a result, our Prime<br />

Minister Dr. Keith Rowley<br />

should not trivialize the disquiet<br />

among many citizens<br />

with talk about his wife’s underwear<br />

but seek to get to the<br />

bottom of this story if only<br />

to extirpate the perception of<br />

corruption among one of his<br />

senior Cabinet members.<br />

The fact that this story is<br />

still gaining traction is simply<br />

because there has been<br />

flip-flopping in the responses<br />

made by the Honourable<br />

Minister.<br />

And even though the Ex-<br />

press stops publishing and<br />

social media regress into silence<br />

on this issue there will<br />

always be a cloud of doubt,<br />

as questions will continue to<br />

plague the stewardship of this<br />

Minister.<br />

The citizens want to believe<br />

the Minister but they are<br />

not sure about the source of<br />

funds nor are they sure about<br />

the quantum nor its composition.<br />

One minute the Minister<br />

says it is her salary, another<br />

time she says it is a withdrawal<br />

from Republic Bank (from<br />

which Bank Sunshine has<br />

been told that $150,000.00<br />

had been withdrawn by the<br />

Minister) and on yet on another<br />

occasion we are hearing<br />

that the source included funds<br />

from her husband’s resources.<br />

FCB<br />

Another issue of concern<br />

has to do with the form of the<br />

deposit whether it was cash<br />

or cheque or whether it was<br />

a combination of the two; the<br />

Minister has not been very<br />

clear on these matters and<br />

thus the public senses a tad<br />

of equivocation on the part of<br />

the Minister.<br />

So this $93,000 deposit<br />

has landed this Minister in a<br />

quagmire from which her versions<br />

of the truth seem to have<br />

her more entangled.<br />

What is even worse is that<br />

this Minister has a precedent,<br />

which does not locate her on<br />

the side of trust with the national<br />

community.<br />

So coupled with her various<br />

versions concerning the<br />

$93,000 deposit and the history<br />

of the credit card scandal<br />

under Patrick Manning’s administration,<br />

it is only reasonable<br />

that one would expect<br />

a sense of anxiety related to<br />

financial transactions under<br />

question by this Minister.<br />

But of even greater concern<br />

is the response of the First<br />

Citizens Bank.<br />

In a number of cases banks<br />

have shown selective indiscretion<br />

in the release of customers’<br />

business with financial<br />

institutions.<br />

I feel a sense of pity for the<br />

Minister because I too have<br />

been a victim of such recklessness<br />

where my own financial<br />

situation was exposed<br />

leaving me at risk to the deviant<br />

within our society.<br />

As a former Minister of<br />

National Security, I am also<br />

aware that in a number of<br />

kidnapping cases the victims’<br />

bank accounts were known to<br />

the kidnappers, down to the<br />

very last cent.<br />

Some of the kidnappers<br />

could have recited dates,<br />

times and quantities of deposits<br />

thus assuring the relatives<br />

about the accuracy of their<br />

wealth and the ability to pay<br />

their demands.<br />

So if there is unease on the<br />

part of the Honourable Minister<br />

I can by all means sympathize<br />

with her because they<br />

have placed her security and<br />

the security of her immediate<br />

family and relatives under<br />

threat.<br />

And if the Prime Minister<br />

said that he too was uncomfortable<br />

with FCB after this<br />

event, the nation cannot be<br />

angry with him because if citizens’<br />

financial business is not<br />

safe with banking institutions,<br />

it becomes a threat to both the<br />

financial and national security<br />

of Trinidad and Tobago.<br />

But here lies my dilemma<br />

with FCB.<br />

What they have offered<br />

on numerous occasions is a<br />

prepared text parroting the<br />

general policy approach of<br />

the bank without taking into<br />

consideration the current situation.<br />

By now every citizen can<br />

tell you what FCB’s policy<br />

is but what we do not know<br />

is what happens when that<br />

policy is breached.<br />

The only way the Express<br />

could have known about the<br />

$93,000 deposit is through an<br />

agent of FCB.<br />

Somebody who was part of<br />

that transaction or who had<br />

access to the information regarding<br />

the transaction leaked<br />

it to the Trinidad Express.<br />

I felt insulted when the Express<br />

exposed to the public<br />

the texts shared between its<br />

reporter and the Minister in<br />

an attempt to convince the<br />

national community that FCB<br />

did not leak the information.<br />

Then from where did the<br />

source get the information?<br />

Was the bank’s data hacked<br />

by someone known to the reporter<br />

who provided her with<br />

such information?<br />

Not once have we read that<br />

FCB proposes to launch an<br />

investigation into this leak.<br />

Not once have we heard<br />

any attempt by FCB to identify<br />

the person or persons culpable<br />

for the leak and to take<br />

action against them.<br />

Until the bank convinces us<br />

that such a process is in motion,<br />

every citizen with a bank<br />

account at FCB is under threat<br />

because within its employ are<br />

persons who lack discretion<br />

and who are willing to part<br />

with information regardless<br />

of the threat it poses to individual<br />

or national security.<br />

This is something with<br />

which we as citizens cannot<br />

be comfortable and the Board<br />

of FCB needs to step in and<br />

interrupt this laissez-faire approach<br />

before citizens choose<br />

to close their accounts with<br />

the Bank and thrust it into financial<br />

peril.<br />

Regardless of what FCB<br />

suggests we know that they<br />

have had difficulty with staff<br />

in recent times and the latest<br />

episode is a further manifestation<br />

that all is not well.<br />

So as much as the Minister<br />

would like this to die, unless<br />

FCB comes clean the national<br />

community should be wary of<br />

doing business with this bank<br />

since the confidentiality of<br />

business transactions appears<br />

PM Dr. KEITH ROWLEY<br />

CAMILLE ROBINSON<br />

REGIS<br />

to be compromised.<br />

My sympathy here is with<br />

the Minister.<br />

It is not because I believe<br />

that she has no questions to<br />

answer, on the contrary, I<br />

hope that her next comment<br />

will be one that will put her<br />

side of the story to rest forever.<br />

But my sympathy is with<br />

her because I sense politics in<br />

motion in the release of this<br />

story.<br />

I am aware of instances<br />

where politicians from another<br />

administration made<br />

larger deposits at FCB than<br />

the one in question and not a<br />

word was heard and I am sure<br />

that FCB’s former CEO Larry<br />

Howai can attest to that.<br />

So the integrity of which<br />

the bank speaks is suspect as<br />

far as I am concerned and the<br />

Minister has every right to<br />

feel targeted.<br />

She has done the right thing<br />

in closing off her accounts<br />

and if I were her colleague I<br />

too would have closed my account<br />

and would have been<br />

very wary because this most<br />

certainly seems to echo with<br />

political overtones.<br />

But to FCB my one wish<br />

is for you to come clean and<br />

launch an investigation to assure<br />

the national community<br />

that you are prepared to do the<br />

right thing at all times.

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