by Linda Straker
- Commercial banks will open for business 2 days this week, from 9 am to 1 pm
- Representatives of the Grenada Bankers Association and government met on Sunday
- Legal approval from Acting Commissioner of Police needed before public announcement
Government and senior banking officials have confirmed that commercial banks will be opening for business 2 days this week.
It’s understood that the decision to open the banks was agreed to during a meeting with representatives of the Grenada Bankers Association and government on Sunday. The virtual meeting was at the request of Prime Minister and Minister of Finance, Dr Keith Mitchell, who has been hinting at trying to find a compromise with the bankers so as to provide service for citizens, especially those without ATM cards, during this lockdown period.
Banks are currently not covered as an essential service in the Emergency Powers Covid-19 regulations, but exceptions are being made for such services, as necessary.
Customers were originally notified through social media platforms and websites of these financial institutions that services will resume after 20 April 2020.
Despite the agreement at the meeting earlier today to open, it will require the formality of getting the necessary legal approval from the Acting Commissioner of Police before a public announcement can be made.
Citizens have been complaining about the lack of having banking facilities open on shopping days and that the closure of banks denies them the opportunity to have sufficient cash to purchase essentials; while some who received cheques immediately before the banks closed are still in possession of those cheques.
“Citizens have been complaining to their members of parliaments and government ministers, requesting at least some hours for banking services and government understands the need for this, therefore, government officials, including the Prime Minister, met with the bankers on Sunday and they all agreed to open for the 2 days from 9 am to 1 pm,” said a reliable financial official who confirmed that the opening days will be Thursday, 16 and Friday, 17 April 2020.
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Just as with the supermarkets, people will simply withdraw all THEIR OWN money baring the last 5 dollars to be on the safe side. Once the lockdown is over then they will put their money back into their accounts. I did this on the last day before lockdown and it was the best decision I made. Even if you have an ATM card, they can still lock the ATM doors or not stock the ATM machines. Cash is king in these circumstances. Once you have your own money in your possession you will have that bit more control over your life.
I did not realised the COP carries so much weight. If the government formulate a policy I am subject to correction but it is my understanding the Police carry out the policy. Just an observation
Again does this apply to carriacou Thursday/Friday? Completely run out of cash and next shopping day here is Tuesday. ATM in Harvey vale hardly ever has cash. Needs better planning. Next shopping day should be announced so people can gauge what shop to do or that some change is coming after 0700 20/04/20
To my mind once the banks are allowed to open as stated above, it can be considered that the whole country is opened for business. In fact public holidays are usually called BANK HOLIDAYS. I personally don’t see why the date 20th April should be brought forward by the 2 business days. I Strongly suggest that the proposed change be not implemented in the interest making assurance doubly sure than for us to have to pay the serious consequencies later.