Building greater trust between the Black Community and the banking sector

Jan 29, 2021 Letters

DEAR EDITOR,

There is growing concern within the Black community in Guyana about inequities in the banking sector. One of the activities being planned for ‘Black History Month’ this year is, ‘Conversations on Building Greater Trust between the Black Guyanese Community and the Banking Sector’. A few leaders in the local Black community are arranging these conversations, which will be either with individual Banks or the Guyana Banking Association.
The aim of these conversations is for Black leaders to develop a better understanding of the challenges, experiences, and expectations of the banking sector in Guyana with the Black community, relative to savings, credit, business, and investment. The purpose is to develop a greater understanding of the expectations of the banking sector, which would assist the community in reorganizing to meet those requirements.
One of the objectives of these engagements is to inform a wider programme to enable more inter-generational economic stability within the Black community. Additionally, it is hoped that these conversations will create a greater awareness among policy and decision-makers in the banking sector of concerns within the Black community and the need for a review to be conducted.
Over the years, the body of knowledge and expertise in the Black community has expanded tremendously and continues to expand, yet it is felt that the policies of the banking sector have not evolved. As such, it is hoped that these engagements will also influence a review to determine, to what extent perceptions of the banking sector of the Black community, relative to financial management, are accurate.
Further, with Guyana being one of the fastest growing economies in the world, as a new oil and gas production and export country, questions are being asked about what review and revisions the banking sector is undertaking and endeavours to undertake to reduce inequities, in terms of increasing choices and opportunities in business and investment, etc. for the Black community.
Additionally, other groups, which need to be considered in these discussions are, Amerindians and the disabled.
Having engaged the banking sector, the leaders will address these matters with the Black community and develop a programme to increase the level of trust.

Yours faithfully,
Audreyanna Thomas

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