Saba Business Association addresses Current Banking System Woes

Saba Business Association addresses Current Banking System Woes

The Bottom, Saba – Recently the Saba Business Association (SBA) held a meeting with the Executive Council regarding several issues.

The current banking system was again discussed as it is a fact that the only bank on the island keeps decreasing its services to the general public as well as the business community which has consequences that cannot be denied. Last November the banking issues were addressed to State Secretary Knops who promised to make it a high priority on his list.

The Executive Council informed the SBA that they have addressed the banking issues to the Dutch government as well and is picking up momentum at the Ministry of Finance. A report has been sent to this Ministry highlighting the current issues and the dire need for another bank and better service to the island. A consultant is expecting to arrive on Saba shortly to construct a report about the current banking system and issues that plague the customers.

However, recently a new bill was announced to make it possible to have a basic checking account for all Dutch citizens, regardless of whether they reside in the European Union or outside of it.

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