Banking sector to be modernised, aligned with digital economy push

The government has opened talks with stakeholders on modernising Guyana’s banking sector to address citizens’ concerns and ensure commercial banks keep pace with its digital transformation agenda.

On Wednesday, President Dr. Irfaan Ali met with a stakeholder group that included commercial bank heads, Bank of Guyana Governor Dr. Gobind Ganga, Private Sector Commission Chairman Gerald Gouveia Jr., and others. The group is expected to present a report in six weeks outlining what the sector requires to support the shift to a digital economy.

During the recently concluded campaign trail, President Ali said the government will establish a portal to give citizens instant access to their bank accounts as part of broader reforms.

“We will establish a portal that will allow citizens to have instant access to their bank account… you can stay at home with a card and do all your financial transactions from your bed,” Ali told supporters at a rally at Kitty Market Square.

He added that the government will also create opportunities for small investors in the oil and gas sector, while modernising public services with initiatives such as electronic health records and kiosk-based driver’s licence renewals.