RBC bank will be the only bank left after WIB closes
THE BOTTOM – Minister of Economic Affairs Henk Kamp said the closure of the Windward Islands Bank (WIB) on Saba has the high attention from his Ministry. Kamp met with the Island government of Saba during his visit to the island on Monday, where this issue was discussed at length.
“In The Netherlands there are not so many bank offices anymore, most people use internet banking and of course we have a lot of ATM’s in The Netherlands, but on Saba it’s a special situation, which needs special attention of the Island government and Dutch government. So we will discuss it with the leaders of both banks; what are their plans for the future and perhaps how we can cooperate”, said Kamp.
WIB intends on keeping online banking open for Saban customers and keep the ATM machine in the Bottom on Saba until December. Thereafter the island with a population of about 2000 will be reduced to 1 ATM machine.
All attention is now on the Royal Bank of Canada (RBC). Commissioner of Economic Affairs Bruce Zagers said the Executive Council intends to discuss certain concerns with management of RBC within the near future.
Zagers noted that the Executive Council met with members of WIB’s Management Board and Supervisory Board in St. Maarten 2 weeks ago, where during this meeting the Executive Council expressed their grave concerns.
Private business
“At the end of the day, it is a private business. The government cannot control whether they stay open or they leave and their intentions are to leave. So we hope we can establish a better working relationship with RBC in the future moving forward”, said Zagers.