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Mar 27, 2014

PM wants to know about the loan that likely caused Marin’s demise

Dean Barrow

Jose Marin was dumped due to complaints that loans were not processed fast enough. It is said that Marin’s ouster had to do with a loan application by Grant’s C.E.O., Doctor Colin Young.  The state-owned bank provides mortgage financing to first-time homeowners including public officers, teachers and lower-middle income Belizeans. But does the C.E.O., as a public officer, qualify for the loan and with a lower interest rate? Today, the Prime Minister supported Board’s decision to remove Marin and said that he also wanted to know about the loan that likely caused Marin’s demise.


Prime Minister Dean Barrow

Joy Grant

“I completely endorse those remarks. Anybody who knows Joy Grant knows that Joy Grant would never ask anyone to do anything improper. Mister Marin is somebody that I knew from a previous life; I was the one who asked him to come onboard initially, so I would not say anything unkind about him. Obviously the entire board felt that it was time for there to be a parting of the ways. It just turned out that it was not the kind of fit that the board and the bank required. The board and the bank are moving on. Misses Grant was telling me that they are convinced that they can move the process far more speedily now. They’ve taken on Miss Janet Arnold, who is quite a senior banker, retired from Scotia Bank. And all is well with respect to the liquidity, strength of the bank and the ability now to disburse money rather more quickly to the members of the public and to the teachers and public officers that are, as I understand it, applying hand of fist for the loans. I did understand Misses Grant to have said there is a loans committee and Doctor Young’s application went to the loan’s committee in the normal course. If it is that he got some special rate, I like you would be interested in learning why.”



“But isn’t this the same concern that was raised so many years ago at the DFC, where people who can perhaps afford to go to a commercial bank or perhaps a credit union are then using the poor people’s bank to get loan?”


Dean Barrow

“I don’t know that….Doctor Young is a public officer. I don’t know that he is well off; I don’t know that you can call him rich. And the bank is meant to serve in fact middle-income, middle-class people…so it is particularly there. There is this special portion of the capitalization that is reserved for public officers—for teachers and public officers. He is a public officer, so he very clearly qualifies.”

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4 Responses for “PM wants to know about the loan that likely caused Marin’s demise”

  1. I in the Sky says:

    ok, so if this is the way JG conducts business, what kind of preferential treatment did she think she deserved during the years she was out there in Brussels as custodian-in-chief of the embassy’s bank accounts? Remember, the accounts out there are unaudited. I mean, you’ve heard her utterances. You see her bling on a daily basis. Did she routinely ‘grant’ herself 6% of the piggy bank?

  2. sickntired says:

    I no have much money but what little i do have definitely will no go to that there corrupt bank. I cant get no loan there but this ceo can? Fool di talk no fool di listen. Udp find more ways fi help themselves to poor people money. I just feel disgusted.

  3. Rod says:

    The only reason he lost his job is because he is not black and this pm wants every single job regardless or not if the person is qualified as long as he or she is black the racism in this country is at it’s all time high . At least one thing I can say about the previous pup gov. Every race of people had a job in gov. As long as they were qualified but this gov. Is so racist that out of 1000 jobs in gov the blacks have 995 of the jobs if that is not racism and bigotry I don’t know what is.

  4. Eye In The Sky says:

    Unbelievable!! The OP and those following, obviously do not know A. Joy Grant. If you did, you would know that she is a dedicated patriot committed to doing what is right for Belize and all Belizeans, regardless of race!

    Prior to posting on this, or any other board, know what you are talking about and save yourself any further embarrassment.

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