COVID-19: Banks in Dominica adopt measures to help clients

Some financial institutions in Dominica have been deferring payments and providing special loans for customers dislocated by COVID-19.

CIBC FirstCaribbean said in a press statement on Friday that it was offering special assistance on a case by case basis for those adversely impacted by the COVID -19 pandemic.

The bank said this could include deferred payments, special loan financing and other concessions aimed at helping clients cushion the financial impact of the pandemic on households and business across the region.

Chief Executive Officer, Colette Delaney said the bank was “very conscious of the financial dislocation which the ongoing COVID -19 event will have on our clients across all segments of our business and we are moving to mitigate the effects as best as we can.”

She said the special assistance being offered was crucial to ensure confidence and stability in the regional banking sector as it weathered this difficult period.

Delaney urged CIBC FirstCaribbean clients who may be experiencing challenges to reach out to the bank to see what assistance could be offered to them.

Meantime the Republic Bank or former Scotia Bank did not mention any deferrals in their press statement but ensured the public that the bank was committed to providing the banking services in the safest environments possible.

And to this end, the Bank has reportedly increased the sanitization of all high-traffic touchpoints at our branches and provided personal sanitizing agents in our customer areas.

“As we each do our part in limiting the spread of the COVID-19 virus and in line with the urgings of the authorities around social distancing we request that customers consider minimizing their visits to the bank’s branches where possible by Utilizing the Bank’s digital and electronic channels

They are asked to use debit cards and credit cards at Point of Sale.

Republic Bank is also advising customers not to visit the banking halls if “you are under quarantine or experiencing flu-like symptoms”.

Some of the measures already announced by The National Bank of Dominica (NBD) include the availability of hand sanitizer dispensers inside NBD branches, encouraging staff to wash hands and sanitizing ATMs and work areas regularly. Employees have also been asked to stay home if they’re feeling ill and measures have been put in place to avoid overcrowding.

The Caribbean Association of Banks (CAB) has said that given the “significant and unprecedented threat to the global economy” that COVID-19 poses, it can no longer be “business as usual” for the foreseeable future and has issued a number of recommendations to ensure the role of banks and other financial institutions in the macroeconomic stabilization of every economy.
These measures include the review of business continuity plans, assessment of work-from-home (WFH) capabilities and increased sensitization of online-banking, ATM and point-of-sale services
In keeping with WHO recommended protocols, CAB also encouraged measures that will reduce the level of interaction with employees and others so as to reduce the level of virus transmission.

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1 Comment

  1. 72nationsshallallbowuntoHIM
    March 23, 2020

    put more ATM in the country for people to access their cash without having to come to Roseau or Portsmouth. Scotia and FCIB bank each only have one atm location in the country. NBD and credit union at limited selected places. This is 2020 and we still operating like senseless people. all we can do properly in Dominica is take offense when people say is nonsense we doing and do doing the nonsense itself. PUT MORE ATM IN THE COUNTRY FOR PEOPLE TO ACCESS THEIR MONEY!

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