PM says she will not prejudice FCB investigations

RADHICA DE SILVA
Senior Multimedia Reporter
[email protected]

Prime Minister Kamla Persad-Bissessar said she does not want to prejudice ongoing investigations at First Citizens Bank (FCB).

Her comments followed controversy over the removal of CEO Karen Darbasie and the appointment of a new board.

Speaking to the media after attending the closing ceremony of the Java Community cricket camp at Wilson Road, Penal, on Wednesday, Persad-Bissessar said the government will not interfere with FCB’s internal affairs.

“As a government, we do not become involved in matters at that level. It is for the board of FCB to handle that,” Persad-Bissessar said.

She added, “A new board will be appointed shortly. I do not want to say more about FCB. I do not want to prejudice any investigations that are ongoing with respect to matters that took place at FCB in the past time. So I do not want to prejudice investigations into matters happening at FCB. The board will be the one operationally to deal with those matters.”

The FCB board resisted earlier efforts to have Darbasie resign immediately, allowing her instead to proceed on vacation leave and retire on October 21.

Controversy has surrounded the bank in recent weeks after claims were raised that former prime minister Dr Keith Rowley received preferential access to foreign exchange, allegations which he has denied. Opposition voices also warned against political interference in FCB’s governance.

On Monday, the government announced a new board for First Citizens Holdings Ltd, chaired by attorney Shankar Bidaissee. He said the appointments were made under the governance provisions of the company and are intended to strengthen oversight as the bank addresses current matters.

Investigations are ongoing as the bank prepares for the leadership transition in October.