A senior executive of the Barbados Public Workers’ Cooperative Credit Union Limited Group of Companies, has been seeking to clarify why its subsidiary CAPITA Financial Services was fined by the Central Bank of Barbados.
The Credit Union’s Chief Operations Officer, Richard Kennedy, says the fine was for the late submission of their financials.
His comments come after the Central Bank of Barbados and the Financial Services Commission were moved to release a statement dismissing claims that CAPITA Financial had collapsed.
Mr Kennedy explains why providing Capita’s financial information was delayed.
The Central Bank of Barbados has confirmed that it has received CAPITA’s financials and is working with the credit union.
Mr. Kennedy admitted adjustments have been made to better serve the credit union’s membership.
You can watch that full interview with the Barbados Public Workers’ Cooperative Credit Union at 8:03 p.m.
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