Guyana will soon be the Caribbean hub for a new money transfer service that already has strong international links , a senior company official said Saturday.
Regional Vice President (Caribbean) and General Manager of First Global Money, Babita Ram told Demerara Waves Online News (www.demwaves.com) that the Camp Street, Georgetown office would open its doors in early May.
"This is our first office in the Caribbean. This is gonna be the hub for the Caribbean," she said.
The company would be relying on its customer base in Jamaica, United Kingdom and North America to offer money transfer service, while expanding to the rest of the Caribbean.
First Global Money intends to also offer a bill payment system.
Talks are "well advanced", Ram said, with representatives in Antigua and Barbuda, and St. Kitts and Nevis to establish footholds in those markets to take advantage of the large Guyanese communities. Similar discussions have started in Trinidad and Tobago. Barbados, with foreign exchange controls still in place, would require special arrangements, she said.
The First Global Money executive said her company would also be offering "secure" online money transfer services via its website.
Ram said First Global Money decided to set up operations here "because we have great confidence in Guyana."
While Ram acknowledges that there are other well-established players offering similar services, she said her company intends to make inroads in the Guyanese market.
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Former Member
Originally Posted by Mr.T:
Guyana will soon be the Caribbean hub for a new money transfer service that already has strong international links , a senior company official said Saturday.
Regional Vice President (Caribbean) and General Manager of First Global Money, Babita Ram told Demerara Waves Online News (www.demwaves.com) that the Camp Street, Georgetown office would open its doors in early May.
"This is our first office in the Caribbean. This is gonna be the hub for the Caribbean," she said.
The company would be relying on its customer base in Jamaica, United Kingdom and North America to offer money transfer service, while expanding to the rest of the Caribbean.
First Global Money intends to also offer a bill payment system.
Talks are "well advanced", Ram said, with representatives in Antigua and Barbuda, and St. Kitts and Nevis to establish footholds in those markets to take advantage of the large Guyanese communities. Similar discussions have started in Trinidad and Tobago. Barbados, with foreign exchange controls still in place, would require special arrangements, she said.
The First Global Money executive said her company would also be offering "secure" online money transfer services via its website.
Ram said First Global Money decided to set up operations here "because we have great confidence in Guyana."
While Ram acknowledges that there are other well-established players offering similar services, she said her company intends to make inroads in the Guyanese market.
Another shocking defeat for the nay-sayers.
That would be the PPP naysayers then. Members within the AFC have been predicting for some time now that Guyana is becoming a leading criminal hub. With confirmed links to the FARC in South America, islamists in the Middle East, and the Triad and 14K in China, adding money laundering activities is to be expected.
Former Member
Originally Posted by Mr.T:
That would be the PPP naysayers then. Members within the AFC have been predicting for some time now that Guyana is becoming a leading criminal hub. With confirmed links to the FARC in South America, islamists in the Middle East, and the Triad and 14K in China, adding money laundering activities is to be expected.
Bai, you giving yourself acid burn for nothing. Hop on your bicycle and head on over to the pub.
Former Member
Originally Posted by baseman:
Another shocking defeat for the nay-sayers.
didn't kwamee/councie/albert already bray dat . . . somewhere?
Originally Posted by Mr.T:
That would be the PPP naysayers then. Members within the AFC have been predicting for some time now that Guyana is becoming a leading criminal hub. With confirmed links to the FARC in South America, islamists in the Middle East, and the Triad and 14K in China, adding money laundering activities is to be expected.
The PPP/C elitist should now be able to move their massive wealth out discretely. 
Ram said First Global Money decided to set up operations here "because we have great confidence in Guyana
Bhai, PPP gat Guyana sweeter than a sumutoo. Is PPP or Bust.
I hope the US keeps a close watch on this. It is obviously a money washing operation to find ways of getting drugs money out of the US and back to Guyana.
Former Member
its good guyana is getting investment but i cannot see it benfiting the nation too much guyana have these services all over with westunion in every major town i will like to see investment for the farmers and contractors if i was the ppp supporters i will not jump and wave on this one let the ppp fine a good market for the farmers paddy
Former Member
Guyana to be the new hub for money laundering
This heading is misleading.
The poster should be suspended.
Former Member
Originally Posted by warrior:
its good guyana is getting investment but i cannot see it benfiting the nation too much guyana have these services all over with westunion in every major town i will like to see investment for the farmers and contractors if i was the ppp supporters i will not jump and wave on this one let the ppp fine a good market for the farmers paddy
It depends on how they structure these entities. If certain amount of risks and the value-chain could be legitimized in Guyana, then related profits could be captured and could drive some tax revenues.
Former Member
not saying nay all i am saying is i need to see other kind of investment
Former Member
Originally Posted by warrior:
not saying nay all i am saying is i need to see other kind of investment
I agree with you, we need to see more investments in commodity producing areas.
Former Member
Amen
Money unions don't transfer money. They launder money. Cash in one country is exchanged in another country for local currency. No physical money ever leaves any of the two countries.
It is a favourite method for drugs dealers around the world.
Former Member
Originally Posted by Mr.T:
Money unions don't transfer money. They launder money. Cash in one country is exchanged in another country for local currency. No physical money ever leaves any of the two countries.
It is a favourite method for drugs dealers around the world.
Wow!! I always thought the banks and fed used UPS and DHL to fly jumbo loads of cash around the world!
Originally Posted by baseman:
Originally Posted by Mr.T:
Money unions don't transfer money. They launder money. Cash in one country is exchanged in another country for local currency. No physical money ever leaves any of the two countries.
It is a favourite method for drugs dealers around the world.
Wow!! I always thought the banks and fed used UPS and DHL to fly jumbo loads of cash around the world!
HEHEHE Please go easy on the Retard.
Originally Posted by baseman:
Originally Posted by Mr.T:
Money unions don't transfer money. They launder money. Cash in one country is exchanged in another country for local currency. No physical money ever leaves any of the two countries.
It is a favourite method for drugs dealers around the world.
Wow!! I always thought the banks and fed used UPS and DHL to fly jumbo loads of cash around the world!
HDL and UPS are not money transfer services. They are cargo carriers. You try sending money with DHL or UPS and see what happens.
Former Member
Originally Posted by Mr.T:
Originally Posted by baseman:
Originally Posted by Mr.T:
Money unions don't transfer money. They launder money. Cash in one country is exchanged in another country for local currency. No physical money ever leaves any of the two countries.
It is a favourite method for drugs dealers around the world.
Wow!! I always thought the banks and fed used UPS and DHL to fly jumbo loads of cash around the world!
HDL and UPS are not money transfer services. They are cargo carriers. You try sending money with DHL or UPS and see what happens.
HDL, you too funny bai. So then who fly all that cash around for the banks, IMF and Govts? Please don't tell me BOAC and Pan Am.
They don't fly money around the banks. The main cash flown about are new printed currencies from the printers to the country that ordered the printed cash, and money destined for payment of military personnel in their own currency.
Money is now transferred electronically.
Former Member
Originally Posted by Mr.T:
They don't fly money around the banks. The main cash flown about are new printed currencies from the printers to the country that ordered the printed cash, and money destined for payment of military personnel in their own currency.
Money is now transferred electronically.
Mr T, you funny bai, good for a Sunday laff.
Bai I worked in a bank at one stage. I also use the bank to conduct business around the world. So I know quite a bit about how things work and what is legally allowed as far as the transportation of physical money is concerned.
Former Member
Originally Posted by Mr.T:
Bai I worked in a bank at one stage. I also use the bank to conduct business around the world. So I know quite a bit about how things work and what is legally allowed as far as the transportation of physical money is concerned.
So then you need to offer advise to the USG, the European, the Russians, etc about the operations of Western Union. I'm sure your insights would be very "revealing".
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