Reestablishing a Bank in Charity: A Case for Financial Inclusion on the Essequibo Coast

Jan 06, 2026 Letters

Dear Editor,

Charity is one of the most important communities on the Essequibo Coast, serving as a commercial and administrative centre for surrounding neighbourhoods. Yet today, residents and businesses in Charity must travel long distances to access basic banking services—an inconvenience that affects livelihoods, productivity, and financial security.

This situation was not always the case. In 2012, Charity welcomed a commercial bank branch, bringing much-needed financial services closer to residents. However, that branch later closed, and since then the community has been without a local bank. The impact of this absence continues to be felt.

Farmers, small business owners, pensioners, public servants, and vendors must now travel to Anna Regina or further afield to cash cheques, conduct business transactions, or access loans. For many, this means additional transportation costs, lost work hours, and exposure to personal security risks when carrying a large amount of cash. For small enterprises, the lack of nearby banking services limits growth and discourages formalisation.

At a time when Guyana is experiencing economic transformation and renewed emphasis on financial inclusion, it is worth asking whether Charity should once again have access to local banking services. The Essequibo Coast remains an active agricultural and commercial zone, with rice farming, fishing, retail trade, and public administration forming the backbone of the local economy. These activities generate regular financial transactions that could support a modest banking presence.

Reestablishing a traditional full-service bank branch may not be the only or immediate solution. Banks today are exploring more flexible and cost-effective models. One option could be a smaller service-oriented branch with limited staffing, supported by digital banking platforms. Another approach could involve authorized banking agents operating from existing businesses, enabling deposits, withdrawals, bill payments, and account services.

There is also room for collaboration. Partnerships between commercial banks, the Bank of Guyana, and government agencies could support pilot projects aimed at underserved coastal communities like Charity. Mobile banking units or periodic on-site banking days could further reduce the service gap.

The goal is not merely convenience, but inclusion. Access to banking services encourages savings, supports entrepreneurship, reduces reliance on cash, and strengthens local economies. For Charity and neighbouring villages, restoring banking access would be a meaningful step toward equitable development.

As Guyana charts its future, communities like Charity should not be left behind. It is time for financial institutions, policymakers, and community leaders to re-examine the case for banking services on the Essequibo Coast and explore innovative ways to bring them back.

Your Sincerely,
Medino Abraham MSc
Innovative Rural Banking Advocate

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