Girobank deposits up to NAf. 10,000 guaranteed

An automated teller machine (ATM) out of service.

Personnel gathered outside the main office on Wednesday to get more information.

 

A sit-down protest of clients led by freelance reporter Ramon Yung at the Jan Noorduynweg branch in Santa Maria.

 

Police presence was required due to angry clients at the branches of Scharloo and Janwé.

WILLEMSTAD--Clients of Curaçao’s Girobank could no longer get money from their accounts after the Central Bank of Curaçao and St. Maarten (CBCS) froze the operations of the commercial bank already placed under its emergency rule.

According to the joint financial sector supervisor of the monetary union, this had been done “due to arisen unrest.” The bank was technically no longer able to process the increased withdrawals which also placed “unreasonable pressure” on its liquidity position.

CBCS said the current moratorium is a legal remedy that prevents creditors from collecting debt owed by the bank. The US correspondent bank of the Giro for foreign payments has pulled back too.

The bank will reopen Friday and clients can access their funds up to a maximum of 10,000 Netherlands Antillean guilders. For 93 per cent this supposedly means the full deposit.

Since 2013 Girobank has been subject to an emergency regulation from CBCS.

Several customers went to a bank branch and tried to get cash, but to no avail. There is no problem with payment of government salaries that runs via Girobank and that also goes for other major employers such as the Isla refinery.

The Daily Herald

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