Bank Employees Return To The Job

With bank workers back on the job, Minister of State within the Ministry of Finance Senator Lennox Weston says their action this week was rather unfortunate, as it was based on a misunderstanding.

The concerns of the agitated bank staff centre mainly on The Banking Act and its provision for severance.

But Senator Weston says the hoopla has been much ado about nothing.

The industrial action by bank employees slowed operations at a number of commercial banks on Tuesday and Wednesday.

Senator Weston says the employees should bear in mind that the clause in question deals with banks that are in liquidation.

The Banking Act 2015 is a uniform law that all parliaments in the eight ECCU member countries are to adopt. The new law sets new standards to ensure that indigenous banks can be better managed than in the past.-