According to Minister of State Joseph Harmon, the American financial institution, BNY Mellon has decided to partner with the Banks DIH owned Citizens Bank.
Speaking at the official opening of the Banks DIH new vehicle workshop, Minister Harmon noted that this is happening at a time when the Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF) are taking steps aimed at curbing and reducing relations between international banks and those in the region.
The State Minister deemed this step as “a vote of confidence” since Mellon Bank is one of the largest banks operating in the United States and the fact that relations are established with Guyana demonstrates that the country is moving in the right direction;
“…when out of all of that, we can actually step out of the black list, the grey list, the white list and whatever other list that exists, I believe Guyana is on the right path of development.”
The Bank of New York Mellon Corporation, which does business as BNY Mellon, is an American worldwide banking and financial services holding company headquartered in New York City. It was formed on July 1, 2007, as a result of the merger of The Bank of New York and Mellon Financial Corporation. It is the world’s largest custodian bank and asset servicing company, with $1.9 trillion in assets under management and $33.3 trillion in assets under custody as of December 2017