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People’s Bank refutes “misleading media reports”

“State bodies not asked to move their accounts”

People’s Bank Friday countered what it called “misleading media reports” saying that not a single state institution has made any ‘direct or indirect requests or instructions’ to transfer their existing accounts from the People’s Bank to other banks.In a statement the People’s Bank said that there were misleading reports in the media regarding state institutions’ bank accounts.

The bank statement said: “With regard to these reports, we would like to clarify that we have not received any direct or indirect requests or instructions from any state institution to close their accounts with us.

“We wish to strongly emphasize that People’s Bank has always been a trusted partner for state

organizations in providing reliable banking services, including instances where such services were provided at the expense of profitability, in order to serve the country’s best interests.

“Our institution is well-equipped to meet the financial needs of all our public and private sector customers and we have a strong track record of providing customized banking   solutions that cater to their unique requirements.

“We take this opportunity to thank our customers for their continued trust in us, and look forward to serving them with our full commitment and dedication.”

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