The Tribune

EDITOR, The Tribune.

I noted with interest the claim by a Canadian bank operating in The Bahamas that they “support NGOs”. This statement came in response to complaints that banks operating in The Bahamas, and in particular Canadian banks, discriminate against local non-profits and charities by heaping numerous difficulties, onerous hinderances and ever-changing conditions upon their attempts to simply open a bank account.

I can speak first hand to the dire banking plight of NGOs; a group that I volunteer with tried for two years, with three different Canadian banks, to open an account without success. Every conceivable hurdle was thrown in our way and in the end, what should have been an easy process that NGOs around the world carry out every day, became a frustrating impossibility.

What these banks perhaps do not understand is that possessing a bank account, or at least being able to tell donors when an account will be available, is critical to an NGO’s ability to attract grants and raise funds. And without this, they simply cannot operate. They cannot pay their staff or carry out their mission.

Not being able to say if or when a bank account will be available is also fatal to an NGO’s reputation, and their ability to raise funds to meet their objectives absolutely relies on an image that inspires trust, and projects accountability and professionalism.

The position of the banks seems to be that any delays are the fault of government regulations and that they always advise applicants of the criteria in advance. Yet the experience of many NGOs is of constantly moving goal posts, where they are never sure from week to week what is required of them, and there is never indication of how long the process may take.

As for government regulations, these surely also apply to every individual, business, or other entity that seeks to open a bank account. Yet I find it highly unlikely that there is a two to three years wait for everyone.

Perhaps the problem is that the staff of these banks have not been adequately trained in how to vet NGOs for bank accounts and are unaware of the correct requirements. If that is the case, and the banks want to credibly claim that they “support NGOs”, it would be wise of them to rectify this.

D DAVIS

Nassau,

August 14, 2022.