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Nimba Businesses Call For Improved Rural Banking Services
By Wellington G Patrick, Nimba County Correspondent
SANNIQUELLIE, June 8 (LINA) - The business community in Nimba County is calling on the Central Bank of Liberia (CBL) to improve the services of the Rural Community Finance Institutions (RCFI) to accommodate trustworthy transactions.
The Chief Executive Officer of the Jungle Water Inc., Floyd Seh Tomah, made the call while speaking on behalf of the business community of Nimba over the weekend at the official opening of the RCFI-2 in Sanniquellie.
Tomah stressed that if the bank offers reliable services such as investment guarantee, checks and cash transfer, amongst others, local businesses will patronize the bank’s operations.
The top Nimba businessman requested that the CBL grants advance and technical support to the community banks to stimulate rapid growth in the commercial sectors of the remote provinces.
He maintained that Sanniquellie hosts huge profitable firms capable of boosting the banking sector, adding that growth would be speedy if services that guarantee the security of transactions and validation by modern banking technologies are available at community banks.
Tomah termed as unfortunate the lack of commercial banks in the capital until the establishment of the RCFI-2 on June 6, 2015, adding that Sanniquellie has vast wealth and the population to support several banks.
Since the creation of Nimba in 1964, its political capital, Sanniquellie, has not had a banking institution in over 50 years.
On June 6 this year, over 1,000 Nimba citizens, mostly residents of Sanniquellie, were in a long queue to open their accounts at the newly-established RCFI-2 Bank in Sanniquellie.
The RCFI-2 was established by the county’s authority, business people and ordinary citizens with funding from the First Afriland Bank and the Central Bank of Liberia.