Minister of Finance and the Public Service, Hon. Audley Shaw, has appealed to financial institutions to play a greater role in facilitating entrepreneurial activity and productivity in Jamaica.
“It is time for a redefinition of your role as financial institutions in Jamaica. It cannot be just about how many Government papers we can buy anymore. It has to be about how we can facilitate more entrepreneurial activity on the ground. How can we produce more, how can we create things that need to be created either for the local or the export market,” Mr. Shaw insisted.
He was speaking at the ceremonial opening of the First Caribbean International Bank’s Portmore branch, St. Catherine, Sunday (October 25).
Mr. Shaw said that there is need for a cultural shift in the country, a shift back to the creation of profit by hard work, initiative and enterprise, and the financial institutions have a role to play in this.
First Caribbean International Bank’s new Portmore branch, St. Catherine. The branch was ceremonially opened Sunday (October 25), and will open for business on November 9.
“Financial institutions need to become a part of this whole new mission of transformation, of creating welcoming lines for people who dare to risk, who have ideas, have taken the time to put together business plans,” the Minister stated.
He commended First Caribbean on opening its newest branch, and for “spreading its wings.” He also suggested that the branch offer its services on a Saturday, to accommodate residents who may not have the time to bank during the week.
The bank’s Managing Director, Clovis Metcalfe, noted that the opening was the last of three branches commissioned under First Caribbean’s Jamaica Expansion Strategy project, which began in 2006. The others opened were in Savanna-la-Mar, Westmoreland in January, 2007, and in Liguanea, Kingston in June, 2008. He said that the Portmore branch will be officially opened for business on November 9.
Mayor of Portmore, His Worship Keith Hinds, also welcomed the new branch, noting that with the explosion in the growth of the population in Portmore, and its proximity to transportation, a highway and all the things that can make good business sense, First Caribbean’s presence was a pleasure.
Minister of Finance and the Public Service, Hon. Audley Shaw (left) being greeted by Managing Director of the First Caribbean International Bank, Clovis Metcalfe, when he arrived for the ceremonial opening of the bank’s Portmore branch, St. Catherine, Sunday (October 25). The branch will open for business on November 9.
Member of Parliament for South St. Catherine, Fitz Jackson, stressed the importance of the institution bringing new customers to the formal banking system, noting that by increasing its customer base, the bank’s products would stimulate more entrepreneurship and drive commercial activity in the area.