BASSETERRE, St Kitts – Chairman of the Ministerial Subcommittee of the Eastern Caribbean Monetary Council, Dr Denzil Douglas, Saturday said that the problems facing the Antigua-Barbuda Investment Bank (ABI) could have resulted in danger to the banking system in the entire sub-region.
The Eastern Caribbean Central Bank (ECCB) Friday announced that it had assumed control of the ABI in an effort to save it from collapse.
ECCB Governor Sir Dwight Venner said that with the assumption of control, the affairs of the bank will be carried out by Central Bank staff, with the support of a dedicated group of bank specialists and the current staff of ABI Bank. This, he said would ensure the continuity of normal banking operations.
“The Government of Antigua and Barbuda and the Central Bank continue to work together very closely to ensure that all steps are taken to protect the interest of depositors and creditors of the ABI Bank,” he said.
In a statement, Dr Douglas, who is also the Prime Minister of St. Kitts and Nevis, said that the activities of the AIB had been under scrutiny for some time. (CMC)
