Monday, October 23, 2017
   
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Why Bank Supervision?

The Bank of Guyana supervises Commercial Banks to help ensure that:

  • Your savings are protected and the risk of you not getting your money is minimized;
  • The banks have money to meet your withdrawals;
  • The banks have money to lend you;
  • The banks are being effectively managed by their board of directors and senior management;
  • The banks invest your money prudently so that they could earn adequate profits to pay you a reasonable return on your deposits;
  • The banks are financially sound and have reserves  to meet unexpected loss;
  • Safe prudential and financial practices are applied by the bank;
  • The activities of the banks confirm to applicable laws and guidelines;
  • The banking system (i.e. all the banks taken together) is safe and sound to facilitate continuous financial intermediation (i.e. deposit-taking and lending);
  • The country’s payment system (dealing with cash, cheques, debit cards, etc.) is working well.