Guyana: President Ali praises launch of New Hayven Merchant Bank

Guyana: The government has recently launched the New Hayven Merchant Bank, which will help in the growth and development of the private and public sectors. This initiative was praised by President Dr Irfaan Ali.

President Ali said that the launching of the New Hayven Merchant Bank would support the growth and development of the private sector and the government. He made this statement during the official launch of the financial institution last night at the Marriott Hotel.

The President said that the banking licence was granted to Guyanese Floyd Haynes after more than two decades and noted that, like Haynes, all Guyanese need to put their collective shoulders to the wheel to achieve shared prosperity.

Haynes, in his remarks, said, stated that Guyanese must seize the opportunities available, “there has never been a time in the history of the country when there were more opportunities for Guyanese and Guyanese businesses”.

He also spoke of the need to get capital to finance these ventures and gave his assurance that New Hayven would look to fill that gap.

According to Haynes, New Hayven aims to revolutionise the industry. He stated, “Your typical retail bank offers debt capital, what we call loans, the merchant bank comes along, and we can do all types of things, we can bring financial instruments that were not here before, have never been thought of or didn’t exist… so that’s why we are here, we are open for business, and we are ready.”

The New Hayven Merchant Bank will be located on Church Street in Georgetown.

Foreign Secretary Robert Persaud, CEO of GO-invest, Dr Peter Ramsaroop, members of the diplomatic community and government officials also attended the event.