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In September, the Caribbean...
Republic Bank Ltd (RBL) has given private members clubs until the end of this month to close their accounts with the bank. This has been confirmed by legal representative for the Private Members Clubs’ Association, Christlyn Moore, who said the clubs started receiving letters from RBL advising that their accounts were being closed. Apart from stating that that the bank was no longer able to service their accounts, RBL has not given any reason for the action.
Moore said the clubs are now in a quandary as to where to place their money. She said the bank did not consult with her clients before taking the action. Up to late yesterday, RBL officials had not responded to requests for comment.