The new chairman of Dominica’s AID Bank – the Agricultural Industrial and Development Bank – has expressed concern that the financial institution is having difficulty in accessing cheap financing.
Martin Charles, who has served as the bank’s Deputy Director from March 2010, took up his new position on April 19 (2012).
He replaces Ambrose Sylvester – chairman for the past 6 years.
“We have partnered with the European Investment Bank (EIB), the Caribbean Development Bank (CDB) and recently Banco de Desarrollo Económico y Social de Venezuela (BANDES) and we are looking to see how we could have our relationship extended,” Charles told the Government Information Service.
He also described the AID Bank’s relationship with Dominica’s indigenous bank as solid.
“We have already established a relationship with the National Bank of Dominica where the bank is engaged in joint financing. We would like to broaden that scope of that agreement whereby we can undertake some bigger projects,” he said.
The newly appointed chairman says is looking forward to the AID bank being able to impact more on Dominica’s economic development.
“We want to ensure that the productive sector is looked at more thoroughly because the bank has a mandate whereby we are supposed to help influence the economic development of the country,” he explained.
Bank chairman Charles says the AID bank will continue to focus on a five year strategic plan which was approved by the Cabinet of Prime Minister Roosevelt Skerrit.
“We have had our shortcomings in that we have not reached all the targets that we intended to arrive at but the board of directors are going to meet so that we can review where we are at and try to tighten up on certain areas to see how best we can achieve the mission and vision of the bank,” he told GIS.
Before Martin leave AID BANK, i want him to make all the delinquents pay back AID BANK the Student Loan they oweing for donkey years. Expose them self Martin, that is why they dont want u there! I still was shock to know is u that is Chairman now carmem lol
Hey give d man his chance. We hate to let our fellow prove they can succeed. He has been the shadow for 12 years he must have seen how to chart the path, trod the path and make others assist in clearing obstacles in the path to create oppertunity and growth. I want him and the bank to do well cuz it help all to be all that they can be once you pay and have or don’t have security
all the negative people alu don’t know what Ambrose was doing outside of the media concerning the bank!!! so why don’t all of you not hate but appreciate!!!! God says love one another so stop being political. he was just appoint LORD let us see wat he will do!!!! STOP[ CRITISICING ARE YOU ALL JUST PLAIN FULL OF HATRED!!!!!!!!!!! GOD will lead him in the right path. Martin, don’t worry wat ignorant peple have to say. Like the song song says” What dey say dey Say”
Just the title of the article and the comments written indicate what level of leadership this man will provide…I gather midterm changes can be made??? Hope so for the sake of the bank’s reputation… If I recall the AID Bank’s reputation was finally advancing to a level where people felt proud and believed the guidelines and principles of governing were behing adhered too. Would be tragic to see all the great work that was previously done to accomplish such a task be destroyed by someone who although has served for many years on the board clearly is not the best candidate.
I am generally in agreement with the Prime Ministers decisions etc. However, this recent one makes me wonder if he has a mental lapsed or lost control of his mental faculties. As they say well is now the bank die. EVERYTHING that man has put his hands on has suffered and died a miserable death. Why you people still keep putting him in things he does not know how to run. Just look at DUTC . The man barely finished high school, is not qualified in anything, brown nose his way up the insurance ladder, kiss political lorells to get to where he is today. Why do these Dummies in a Can keep doing this to themselves? Lord help you all and AID bank because it is dead.
I reverse this statement in the name of Jesus – AID Bank is not dead and will never be dead by the grace of God. We will move on.
I am not saying that he has not accomplish much but Martin should not try to use his political influence to get Ambrose’s job. I am a Labourite and from Sen. Joe too. Martin knows of Ambrose’s accomplishments. You do not mess with this man!!! Futher more he is Jeff’s uncle. Sen Joe people will not forgive him for that.
Are you saying that you believe Mr Sylvester was deliberately removed from the Chairmanship in order to make way for Martin Charles even though Sylvester is way more qualified than Charles?
Qualified in what?? Ambrose was on AID Bank’s board for donkey years and the bank was never known. Is only the Jamaican manager that have the bank up now, it was not Ambrose. Get alu facts. idiots
rubbish
In Jesus’ name Martin Charles will success and AID Bank will move one profitable. AMEN
Is so alu said Skerrit will fail
There are times when a strategy calls for the removal of the leader even where the leader did an excellent job. Leadership is not only about achieving targets but includes devising and directing a new strategy going forward. Some leaders are excellent at following a road map and some are experts at creating a map. When Jehovah wanted a leader to take the Israelites into Palestine, he replaced Moses with Joshua. Did Moses become incompetent? No! The new work called for a different leader. Ambrose brought the bank to profitability and this is wonderful. So where does the bank go now? Maybe Ambrose is still needed at the helm; or someone esle may be able to go forward on the road that Ambrose built. With a strong GM as Kingsley Thomas, a Chairman of less stature than Ambrose may be able to achieve good results. Finally, maybe, just maybe, Ambrose is being eyed for things more important.
But what is wrong with alu? find out how long ambrose was on aid bank’s board? find out the kind of things that went down under his chairmanship (they are covered, some things you cant take tot he public ok)So shut up?
Considering that Charles has been the Deputy Chairman for all these years, he is not totally new. His performance should be evaluated after the first year.
These guys are trying to create a boys club. What they fail to realize, Dominicans see them for what they are..
Martin Charles? AID Bank prepare for a great down fall.
well martin just has to surprise u
congratulations Martin, give it your best shot i know u can do whatever task is placed before you to do,i have worked with you in the past so i know your capabilities. Dominican help him don’t press him. and by the way i have no benefit there!!
Martin all you have to do is work with AID Bank staff and the clients and you will success.
This is a political appointment. Martin Charles have no qualifications to run aid bank… dominique fini bat
you fool, what do you know about the man. everything for you people is politics and more politics. He served for a number of years you never commented,he even served as deputy chairman. what is your problem!!! give the man a chance to prove himself as chairman. isnt there going to be other directors serving? The bank is not going to be on the shoulders of Mr. Charles.
true saying.
you ar so so wrong. OMG Shame on you
you do not know Martin so shut up. Stop your political tribalism. He has over the years helped the bank to get where it is today.Did you ever question his qulifications for his 12 years of serving? This is nothing new. When the chief of police was appointed, the same was asked; qulification!!!! Read the Aid Bank’s Act and then you will see that he is over qualified.
Quite clearly, you are not familair with the AID Bank Act yourself
Many people are qualified and over qualified and they still dont have basic common sense and still cant do the job. As the past acting manager of AID Bank – the doctor
That’s what is happening in all government sectors. Nepotism all the way
Eh bein look dabar Martin Charles as chairman AID Bank fini bat. What does Martin Charles knows about Banking, that is putting square pegs in round hole.
all we do in this country is condemn, condemn condemn and speak negatively. always putting down people. I wonder if you can do the job or if you can do your job. Hyprocrites
Martin Charles is the best we could find to head the AID Bank? What are his qualifications as it relates to Financial Institutions? His track record in CLICO and DUTC should speak volumes, if you are not sure ask anyone he worked with over there, especially ask his colleagues from CLICO Barbados and the Eastern Caribbean Islands where CLICO did business. OMG……this place is going straight down the drain…sorry.
well this is one of the persons who has worked with him. for your information, Mr. Charles took Clico Dominica and it one of the leading clico agencies in the region. Clico has always been pround of what he has done.He accomplished much for our company and his achievements is there for all to see. He is well respected by clico Barbados and the Eastern Caribbean. Mr Charles was tipped to becoming a regional director for clico. If you don’t know someone don’t talk.
If you do not know what you are talking about then shut up!!! you obviously do not know the man. But interesting though, he hepled build it. He was deputy chairman. get your thoughts clear. it is clear you have something personal against the man.
would you like someone to condemn you or your child? why dont we every see the best in people? why do we only see the bad, the negative? would you like someone to bring you down or your child?
Lets hope Martin proves you people wrong
This “greenmonkey” moron is adding nothing intelligent to the debate. If you like Martin, then simply say that you like the guy. Commentators who are expressing their concern with Martin’s ability to govern a development bank in this era, are providing a basis for their concerns while you, greenmonkey, are just saying things. While young professionals must be given opportunities to serve and contribute to national and sectoral development, they must demonstrate their capacity to do so BEFORE they are asked to serve. The AID Bank is not a college where you train people in governance. It is an enterprise which requires trained leaders to take it forward. Is Martin one of those people? The bit of evidence I know of, does not say so.
Mordiay
Allu…
According to Rah of WCK..What Happening Dey?
Martin Charles? Chairman of Aid Bank?
Papa God
Every time I think that things cannot get any worst in this country, the political leadership say: “Yes it can”!
This is a classic example of a square peg in a round hole.
Wrong again. Maybe you people should investigate the conditions at AID Bank under Ambrose before you speak. Its not only about loan approvals, get educated people
this is the state which Dominica has come too. user friendley party hacks which are place in the top brass of all important organizations in DOMINICA. the next level as it said.
How did we moved from an experience chairman to an failed DUTC chairman, he is a replica of his parl rep who moved st. joe to one of the poorest villages in Dominica
I do not know of the gentleman’s academic qualifications, but i note that he has served as Deputy director since 2000; twelve years. Surely this must count for something.
Stop shooting people before you have reason to. Wait and judge the guy’s work based on his performance. Enough with this tribalism and jealousy in Dominica!
that is very true, my people please read the news thoroughly and then make your comments
if you dont know the facts and the person, then should you even comment..
research, investigate the person, he worked at DUTC and CLICO..
start doing your home work before you comment FOOL
Performance matters now?
Amen, Amen and Amen. Martin all the best. Dont allow people’s stupidity to put you down
How can you take a Financial institution that made EC$2.3 million in 2011 for the first time in its 40 year history and put it in the hand of Martin Charles?
What is Martin Charles qualification?
What is his claim to FINANCIAL Fame?
Ambrose Sylvester on the other hand served in several capacities up to FINANCIAL SECRETARY in the Ministry of Finance. He made AID BANK a profitable institution and Chairman of the Board.
MARTIN “GABBA” CHARLES as Chairman of the Board of AID BANK!! Gimme a Political Break!!
Martin Charles claim to financial fame is the failure of DUTCI, rest assured this bank will he heading down the failure lane just like the failed current chairman, DNO you nay wish to contact ALICo there you will know
In Jesus’s name i reverse this statement.
I place this bank, its staff, board of directors and management under the blook of Jesus. This Bank WILL NOT GO UNDER in the name of Jesus. Satan you are already defeated!
AID Bank shall not fail in Jesus’s name!
People are you aware that when you pray and confess for AID Bank to fail, over 30 persons will be out of a job! my God! what is wrong with you heartless selfish people
What nonesense are you talking about. Isnt it the same Martin Charles who has served the bank since 2000? was’nt he deputy to Ambrose Sylvester? For all these years of service to the bank what are you talking about? Has he not worked in a financial institution for many many years? St Joe Massive be proud of your countryman. We are too quick to criticize people without merit.Shame on you.
Martin was a Political stamp from 2000. Do you know who is Martin? Come St Joe and find out. Go to Jimmit and find out..
Its obvious this is a political appointment. Look at CLICO and DUTC. After all the hard work is done they putting Martin to head. 10 steps forward get ready for reverse gear now.
utter rubbish!!!!
Of all persons, martin charles you want to blame for DUTC and CLICO demise? get serious. please remember,Mr. Charles was and is part of the hard work that is being done. why he was good to serve as Deputy chairman and not chairman?
OMG!!! why everything is about politics? I just read that he was the Deputy Chairman. There must have been times when he acted, chaired meetings of the board etc, so he must have been part of the hard work and the 10 steps forward.
i have been following with great interest the development of AID Bank. AID Bank became financially viable over the past 3-4 years. What has changed lets see. New GM and New Chairman. Mostof the board that has been serving from 2000, check their website. 12 years on board? Really?
So what is Ambrose’s achievement? how long did he stay on the board recently??
Ambrose Sylvester’s achievement at the AID Bank is that the Bank was a going concern on his watch. He came up through the ranks at the Treasury to become the Accountant General. He crowned tat with becoming the Financial Secretary…solid acomplishments by any standards. To be replaced by a Martin Charles is mindboggling.
martin charles???? wii papa ebeh achelma AID bank fini…
stop being a fool and get a hold of yourself
TRUST FINI IS A UNDERSTATEMENT
Interest is the agent of economic destruction. Modify banking without it and you will see serious growth.
Please do some research into the Islamic banking model.
I just wanted to share this link below with the Public, nothing to do with Aid Bank by the way. The link below shows why Dominica is lead in some ways by the functions of communism. We are a democratic country and things like this must be made public.
Please , where is “THe Link Below”
Its all about the BOYS CLUB
yes, is so alu had say Skerrit is a little boy! fools
When we are looking for financing for the bank, we must be careful not to use Dominica’s natural resources or certain infra-structure as collateral. Just like a person taking a loan, banks takes loans as well. If the bank defaults on the loan, the lender has a rignt to take back what they gave up as security for that loan, so plan and simple Aid Bank, pay back what you borrow and you will be just fine.
Nous fini battre a AID Bank. Good, sincere and trustworthy leadership is important.
In the name of Jesus AID Bank WILL NOT finish! Father you have been good and you will continue to be good. I revers this statement in the name of Jesus