The banking industry is under attack again for clinging to its money and not lending to various sectors for developmental purposes.
The most recent criticism has come from church leader Bishop Dr Marlon Husbands, of Sanctuary Empowerment Centre, who lamented that even the church was facing difficulty in getting bank funding.
Earlier this month, former Prime Minister Owen Arthur chided commercial banks for not bankrolling innovation as he spoke at Innovate Barbados 2017. He said Barbados’ financial system was very liquid but functioned in a highly risk-averse manner, and was largely devoted to underwriting consumption.
Husbands said the banks’ actions were part of an overall decline in respect for churches across a “new Barbados”.
He was delivering the sermon yesterday during a service marking the NATION’s 44th anniversary, as well as the Ministry of Transport and Works’ recognition of World Remembrance Day For Road Traffic Victims at the Country Road, St Michael church. (TG)
Please read the full story in today’s Daily Nation, or in the eNATION edition.
