Was Steve Duncan’s Senatorial Appointment in Contravention of Domestic Banks & Financial Institutions Act?

Steve Duncan

Three weeks ago, Steve Duncan stepped down as a government appointed senator after serving at least four years on the upper chamber. At the time of announcing his replacement, the government said he had resigned for personal reasons. Well, today, a letter was sent to the Governor of the Central Bank Joy Grant by attorney Arthur Saldivar. Saldivar complains that under the supervision of the Central Bank, Duncan’s appointment proceeded even though, he is the Managing Director of Heritage Bank, and is classified as a Politically Exposed Person.  Saldivar says that the Central Bank allowed him to carry on political work for the U.D.P. in the senate and presented resolutions at a U.D.P. national convention. Saldivar points out that domestic banks pay special attention to the accounts of PEPs, which include ministers of government, senators, political appointees and high level government officials. Saldivar questions how is it that Duncan could impartially scrutinize the accounts of other PEPs from different political entities. According to Saldivar many persons, especially from the opposition party, closed their accounts at Heritage Bank for confidentiality reasons. Saldivar inquires if Duncan obtained written permission from the Central Bank to accept the senatorial appointment. And if he did not, Saldivar says it is in contravention of the Domestic Banks and Financial Institutions Act and therefore sufficient grounds for his removal from Heritage Bank.