Commercial banks, central bank and Guyana’s enslavement

Apr 12, 2018 Features / Columnists, Freddie Kissoon

Read up on the takeover of Germany by Hitler and you will see how easy it is to enslave a population. I learnt one undying lesson from my studies of Nazi Germany – no dictatorship can come into being without people’s choice. Whether the choice is fear, reticence or disinterest, state barbarity envelopes a nation because the citizenry allows it. Guyanese allowed Jagdeo’s autocracy and Guyanese are watching the creeping authoritarianism of the GRAND COALITION (my emphasis) and show no concerned reaction.
The story of a demand for an envelope as proof of address by the commercial banks is so sickening that it reminds me of that great philosophical lesson of history – people are responsible for their own enslavement. On Tuesday, I went to one of the commercial banks to do one of the most harmless, uncomplicated and quick transactions. The gentle, friendly teller said, “ID please, and proof of address.” I complied. She looked at my very legitimate document then enquired, “Do you have the envelope?”
She was referring to the envelope the document came with. I was immediately irritated; “What envelope you are talking about? You have my proof of address.” She said she has to refer the situation to her supervisor. I told her I want to talk to the supervisor. “No, no, no, you don’t need an envelope,” the supervisor let me know. I then enquired why I was asked for an envelope in the first place. I demanded to see the manager.
He holds the position that not in all circumstances the bank will ask for an envelope, but he will stick with the overall importance of the envelope as valid proof of address. I indicated that the Bank of Guyana in an interview with me gave the assurance that it will interface with the commercial banks on the envelope criterion.
Before I left, I told the manager that I will be doing another column on this envelope psychosis. He asked me not to do the column, but to address him in writing about my feeling. I told him as a public commentator I could not do that. He then asked me not to identify the bank and not to name him. I agreed. Before I left his office, I was told that the bank is unaware that the envelope issue was raised by the central bank with commercial entities since October last, when I did full length commentary on it.
That intention to liaison with the commercial institutions to stop the inflexibility about the envelope request was given to me by Mr. Joseph Lall, who holds the designation of ‘bank manager at the Bank of Guyana ’. Mr. Lall’s interview with me was carried in my October 14, 2017 column captioned, “Bank of Guyana about to stop a Guyanese stupidity.” It was time to interview Lall again. I told him we were on record and he agreed and advised that I publish his true words.
Here are his true words. First, he didn’t like the title of my October 14, 2017 article. He indicated that bankers do not use such words, to which I gently reminded him that I am not a banker. Secondly, Mr. Lall took the position that I misquoted him. He said he never told me the central bank would bring up the particular vexation of envelope request, but it would advise the commercial banks on broad guidelines in keeping with the anti-money laundering act. Thirdly, although he thinks banking should be friendly and the envelope thing should not happen, it is best for the central bank to stick with broad guidelines in its relation with the commercial banks, rather than dictate.
Here is where I disagreed with Lall and I had to give him a lecture on how freedom is won or lost in a country. I told him the envelope inflexibility is oppressive and there is absolutely nothing wrong with raising that specific controversy with commercial banks.
Fourthly, Mr. Lall contradicted himself and I hope he sees it when he reads this article.
He informed me that central bank did advise commercial banks not to ask for two pieces of identification; one should suffice. But wasn’t that a specific point they brought up with the commercial institutions? So why not the envelope madness? In fact I insisted that the Bank of Guyana has an obligation to do so. I then detected a change in Mr. Lall. Here was his response. He will take up with the governor of the bank, the thorny issue of the envelope. In the meantime, Guyanese willingly submit to the envelope asininity, accepting their own enslavement.

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Commercial banks, central bank and Guyana’s enslavement

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