Providenciales, Turks and Caicos Islands – March 1, 2018 – The Financial Services Commission is aware of the reports which have residents and depositors of ScotiaBank Turks and Caicos concerned. Managing Director of the FSC, Niguel Streete told Magnetic Media, the situation is being closely monitored.
For days now, there have been murmurings about staff problems at popular ScotiaBank and the accusations have been wide ranging and potentially damaging for those involved.
The FSC is legally tasked with protecting the public’s interest on behalf of the Turks and Caicos Islands Government, this includes depositors. The shocking collapse of TCI Bank in 2009 has left the market leery of troubling news emanating from the banking sector.
While many of the claims by public pundits have not been substantiated, Magnetic Media was able to confirm that there is an emergency team in country, reportedly from Canada, to help during this staff crisis.
A customer of the bank shared, on Tuesday, that the Providenciales Leeward Highway branch and the Grand Turk branch of ScotiaBank, has been for weeks now, sharing staff.
The FSC did not expound on any rumors in the public domain but Mr. Streete did say, “The Commission’s oversight and risk monitoring/supervision framework extends to working closely with the bank’s parent company and its regulator on effective supervision of the bank’s operations in the TCI.”
Magnetic Media has reached out to ScotiaBank for comment on what is going on, but up to publication time, there had been no reply.
Woman dies on Tuesday; 32nd Covid Death for Turks & Caicos
By Dana Malcolm
#TurksandCaicos, January 20, 2022 – The Turks and Caicos has recorded its 32nd death related to COVID-19.
The person, who we are told is a special needs young woman – was unvaccinated and had underlying medical conditions.
The death rate in the Turks and Caicos of both vaccinated and unvaccinated persons has climbed alarmingly this year. In the 21-month period from March 2020 when the country recorded its first case to December 2021, there were 26 deaths recorded in the TCI.
In the 19 days since the start of 2022 that number has increased to 32; which means six deaths already in January.
Cruising should slow down says PAHO
By Dana Malcolm
‘Slow down on Cruising’, that’s the word from the Pan American Health Organization, PAHO in their latest recent press conference.
“In the context of intense transmission, due to the Omicron variant as we have highlighted several times. It is just logical to suspend or at least limit the cruise ship traffic as an outbreak on board might end up exceedingly high and probably will go beyond the capacity of local health services”
Both the Bahamas and the Turks and Caicos are experiencing a massive uptick in cases and several warnings regarding cruise travel have been issued by the US Centers for Disease Control.
Cruising just resumed for many regional countries this past Summer, Turks and Caicos was among the latest to restart on December 13.
A stop to sailing would be devastating to economies, however, ports of call like Grand Turk which are reeling with rocketing case numbers of COVID are urged to consider the suggestion of slowing down on ships by PAHO.
Cayman gets its second ‘Sir’; former Premier Alden McLaughlin knighted on Jan 1
By Dana Malcolm
#Cayman, January 20, 2022 – Former Premier of Cayman Alden McLaughlin was knighted at the start of 2022; named in the Queen’s New Year Honors List. He is only the second Caymanian to have ever received a knighthood from her Majesty Queen Elizabeth II.
Current Governor, Martyn Roper extended congratulations saying, “This is an outstanding personal achievement for former Premier McLaughlin, one of the most important and impactful political leaders in Cayman over the last 21 years. It is a significant moment for our islands. This historic award is only the second ever Knighthood to a Caymanian since the first in the 1990s. It is a strong signal of the respect in which Cayman is held and a visible demonstration of the progress Cayman has made as a vibrant democracy with strong good governance foundations.”
Sir McLaughlin, who is also now a QC attorney, served two terms as premier and had a career in politics that spanned 21 years. McLaughlin is known for his role in modernizing Cayman’s constitution.
Current premier G. Wayne Panton described the occasion as a unifying moment for the country saying, This is a day of celebration and great pride for all Caymanians as a son of our soil has been bestowed one of the highest honour. Today marks a new and most unique storyline in the history of the Cayman Islands. In considering the rarity and magnitude of this occasion, this is certainly a unifying moment for our community.”
Sir Alden McLaughlin, 60, was appointed as a Knight Commander of the Most Distinguished Order of Saint Michael and Saint George on January 1, 2022.
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