Scotiabank launches 50th anniversary, gives UG $2M for Smart Classroom

Apr 15, 2018 News

Scotiabank Country Manager, Raymond Smith

As part of its 50th anniversary, Scotiabank Guyana has donated $2M to the Faculty of Natural Science, University of Guyana, to commission a smart classroom.

At the launch of the anniversary on Friday at the Pegasus Hotel, Raymond Smith, Scotiabank’s Country Manager said that the commissioning of the smart classroom is the bank’s signature Corporate Social Responsibility (CSR) project in this year’s anniversary celebration.

Smith said that the project is in alignment with the bank’s digital focus which aims to provide current and future students with the benefit of an international learning environment.

He disclosed that the project is being funded by the Scotiabank Community Programme. Smith said he hopes that the project will be the first of many more similar projects with the University of Guyana.

Dr. Paloma Mohamed, Deputy Vice Chancellor at the University of Guyana said that she was very pleased when Scotiabank approached her with the Smart Classroom Initiative.

Dr. Mohamed said that the Department of Natural Sciences, in which the department of Computer Science sits, is thrilled to receive its first Smart Classroom.

At the anniversary launch, the bank’s country manager also reflected on the strides that Scotiabank has made since it opened its first branch in Guyana in 1968.

“Having entered the market two years after Guyana attained its independence, we have played an integral role in the development of post-independence Guyana,” Smith said.

“We have founded industry, created employment and contributed to the national coffers,” he added.

Smith disclosed that for the period 2013 to 2017 corporation taxes that were paid to the government of Guyana exceeded $8 billion.

Smith told those gathered at the launch that the bank has embarked on a strategy that will see it maintaining its place in the Guyana market for another fifty years.

“We anticipate that during the course of this year we will introduce the next generation of ABMs, or Intelligent Banking Machines; or IBMs as they are also referred to. Also, we plan to introduce new card products and additional online solutions,” Smith divulged.

He said that they (Scotiabank) are excited about customers’ ability to transfer funds to third parties from the convenience of their laptop, tablet or Smartphone.

Meanwhile, earlier that day, the Scotiabank manager also announced that they will be giving away $1.5M in the bank’s 2018 Vision Achiever Programme, Business Plan Competition, which is also a part of the 50th anniversary celebration.

With the collaboration of the Georgetown Chamber of Commerce and Industry (GCCI), Scotiabank on Friday launched the competition at the GCCI’s Waterloo Street Boardroom, to promote entrepreneurship.

Last year, Denisha Victor of KoKo and Davindra Laltoo and Moesh Balmacoon of Guyana Premier, successfully pitched their business ideas. They won $500,000 and $200,000 respectively from a field of six finalists.

The competition is opened to all. Persons 18 years and over who are interested in starting a business or who already have an existing small business and are interesting in growth can enter the competition.

“We are excited for what the future holds. As such, we are committed to working with all stakeholders,” Smith said.

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