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Tag Archives: commercial banks

Swifter COVID-19 testing, distance education delivery, loan repayment relief -President Ali

President Irfaan Ali on Wednesday night unveiled a package of measures to ease the cash strain on thousands of Guyanese due to the economic downturn caused by the COVID-19 pandemic, even as he announced plans to increase testing countrywide and acquire results in a short time and clear a backlog of 700 tests. The President said his administration wants to ...

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Republic Bank relaxes rules on late fees, loan repayments to help cushion impact of Coronavirus

Republic Bank (Guyana) Limited has started waiving late fees and other penalties on the repayment of credit card debts, loans and mortgages as well as allowing eligible customers to postpone loan repayments for the next six months, in keeping with a request by the Bank of Guyana to all commercial banks. “In response to the anticipated impact as a result ...

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Commercial banks cut back on opening hours due to COVID-19

Banks in Guyana will from Tuesday March 24, adjust their banking hours to customers as one measure to combat the spread of the coronavirus (Covid-19) in Guyana. A Bank of Guyana (BOG) spokeswoman told News Talk Radio Guyana that the Guyana Bankers Association came up with the initiative and sought the approval of BOG to which the central bank gave ...

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16% interest rate “ridiculous” for businesses to borrow from commercial banks – GCCI

The Georgetown Chamber of Commerce and Industry (GCCI) on Tuesday said its planned Business Development Forum would be geared to helping small businesses find other sources of financing. Senior Vice President of the GCCI, Timothy Tucker says that’s because interest rates at commercial banks are very steep compared to crowd-funding, boot-strapping and equity. “Apart from electricity costs in manufacturing, is ...

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