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    New board appointed to EximBank

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    By Ken Chee Hing

    Copyright newsday

    New board appointed to EximBank

    THE Ministry of Trade, Investment and Tourism has announced the appointment of the new board of directors for the Export Import Bank of Trinidad and Tobago Limited (EximBank).

    The formal presentation of instruments took place on September 25, at the ministry’s headquarters in Port of Spain, a release said.

    A brief ceremony was attended by Trade, Investment and Tourism Minister Satyakama Maharaj, parliamentary secretary for that ministry Dr Colin Neil Gosine, acting permanent secretary Abigail Bynoe and senior officials of the ministry.

    The appointment of the newly installed board underscored Government’s commitment to strengthening the EximBank’s position as a catalyst for economic transformation in TT.

    Members appointed to serve a two-year term are:

    • Edwin Chariah, chairman

    • Suresh Maharaj – deputy chairman

    • Nandini Narine – director

    • Dr Bhushan Singh – director

    • Joseph Ridge Paul – director

    In his address to the appointees, Maharaj underscored the EximBank’s pivotal role in facilitating the growth and expansion of Trinidad and Tobago’s non-energy export and manufacturing sectors – enhancing the nation’s foreign exchange earnings, creating and sustaining employment, and empowering the exporting community through its trade finance portfolio.

    According to bank’s website, the Export-Import Bank of TT was incorporated on December 32, 1973, as the TT Export Credit Insurance Company Limited (EXCICO). The bank’s registered office is at Ehim House, 30 Queen’s Park West, Port-of-Spain.

    EXCICO was converted to EximBank by an Order from the Ministry of Finance on November 4, 1997, cited as the Financial Institution (Amendment to the Third Schedule) Order 1997.

    This amendment to the Financial Institution Act 1993 granted EximBank the ability to conduct the following types of business: confirming house or acceptance house, finance house or finance company, financial services and as a registered insurer.

    The bank is primarily involved in providing banking facilities which include foreign exchange sales, raw material and asset financing and other trade-related services to exporters.

    Other services include the discounting of bills in respect of goods exported from TT on credit terms.

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