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Indigenous People should be more proactive in banking

Jan 31, 2023 Letters

Dear Editor,

With the touted quantum of money that will be pouring into Indigenous communities in Guyana from the carbon investments for our stewardships in caring for the forest, and from Oil, it is expected that such reality will prompt our people to take initiatives to seek proper investments and management of their monies.

This can be a challenge for most us, given our unique worldview in relation to conventional banking. Most persons who live in outlying and traditional communities, they still practice the collective ownership to lands and approach work and business-oriented activities collectively. While for a few communities that are leaning towards urban lifestyle, some of their residents who are progressive entrepreneurs are already practising individual banking. However, the former aspect that reflects our modus operandi shouldn’t hinder us, instead, offer a motive to be in dialogue with western banking in Guyana to seek appropriate forms to invest our capital.

As clever people, perhaps we can initiate cooperative groups in Indigenous villages. This can be done firstly by conducting a feasibility study on the ambitious indigenous banking plan. The enterprise must come from the people, founded on their communal strength and must be autonomous, but open to work with scientific and technological assistance from outside. If such pioneering initiative in indigenous banking be successful, the enterprise can be established across the interior of the country, which eventually District Councils can supervise.

We know that the love of money is the root of all evil, and there exist divisions in communities with the entry of cash flows but to combat all improper practices that surround community funds proper accountability, monitoring and transparency must be included, as ethical rules, along with community togetherness to govern the autonomous indigenous banking.

Editor, Indigenous People in Guyana are living in “interesting times”, where inevitable changes are impacting our lifestyles, hence the need to be proactive according to the signs of the times not to be left behind. In other words, we are not living in a vacuum, which means we need to be in constant dialogue with modern development as we keep the balance in maintaining our cultures and traditions in the present times, and make proper use of cash-flows and investments, but adopt them to be in sync with our worldview of development and for future generations.

Yours sincerely,

Medino Abraham SJ

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