By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

A Cabinet minister yesterday hit back at the Opposition’s leader by asserting that political “partisanship” should not intrude into ensuring Family Island communities have consistent access to banking services.

Leon Lundy, also the South Andros and Mangrove Cay MP, pushed back at Michael Pintard’s criticism of the Davis administration’s failure to enact banking reforms by arguing that the issue is about ensuring all Bahamians have adequate financial services access rather than politics.

“This is not about partisanship. It is not about finger-pointing. It is about the real lives of real people in our Family Islands - Bahamians who deserve the same access to essential financial services as those living in the capital,” said Mr Lundy.

“When the people I serve raise a concern, I speak up. That is not only my right; it is my duty. Representation is not about convenience; it is about consistency, courage and commitment to the people who elected you.”

Mr Lundy highlighted that commercial banks have made the decision to reduce their services to Family Island communities across successive administrations, and said it is “disingenuous” of Mr Pintard to criticise the Davis administration after “years of silence”.

“The Governor of the Central Bank has stated clearly that between 2014 and 2021, there was a 40 percent decrease in bank branches across Grand Bahama and the Family Islands. That decline pre-dates the current administration,” said Mr Lundy.

“This is a national issue that spans multiple governments. To now cry foul, after years of silence when this erosion began, is not only disingenuous - it is opportunistic. Leadership demands foresight, not hindsight dressed in political rhetoric.”

Last week, Mr Lundy spoke out about Bank of The Bahamas’ decision to slash operating hours at its Kemp’s Bay branch to just one day per week while leaving its Mangrove Cay location open four days per week.

He said the move was a “disservice” to Bahamians still reliant on branch banking and another example of how Family Islands and their communities are “treated as an afterthought” by the commercial banking sector and others.

Mr Pintard, meanwhile, renewed calls for the Davis administration to “take banking reforms off the backburner” and demonstrate it is willing to correct the failures in the sector. Challenging the Government to “step up and do something”, he added that as the majority shareholder in Bank of the Bahamas it has “both the authority and the responsibility to act decisively”.

“Access to financial services is essential to economic opportunity, quality of life and community development. Yet this PLP administration seems paralysed while the situation worsens before their eyes. It is remarkable how quickly voices are raised when political pressure increases,” said Mr Pintard.

“But true leadership means acting before the crisis hits home, not just reacting after the fact. If you are serious about change, then step up and do something. The Government is the majority shareholder in the Bank of The Bahamas; it has both the authority and the responsibility to act decisively.”

Mr Lundy, though, said the suggestion that the Government should use its position as a majority shareholder to interfere with day-to-day operations at Bank of The Bahamas “reflects a fundamental misunderstanding” of corporate governance.

“It has been suggested that the Government, as a majority shareholder in Bank of The Bahamas, should dictate its operational decisions. This reflects a fundamental misunderstanding of corporate governance,” said Mr Lundy.

“The Government does not, and should not, interfere in the day-to-day operations of a regulated financial institution. Doing so would set a dangerous precedent and could even cross the line into unlawfulness. Shareholding is not micromanagement.”

Mr Lundy said that while he welcomes the support from the Opposition leader as he strives to ensure all Bahamians have banking equity, the decision to speak out was to ensure his constituents’ concerns were voiced and not politics.

He added that he plans to meet with Bank of The Bahamas executives to “explore real solutions”, and questioned why Mr Pintard had “no similar outrage” when banking services were being reduced in Grand Bahama under the former Minnis administration.

“During the period 2015 to 2021, when banking services were being curtailed in Grand Bahama, the now Opposition Leader was a sitting Member of Parliament during most of this time. He and his colleagues from Grand Bahama held key cabinet posts,” Mr Lundy said.

“At that time, we heard no similar outrage. Where was the advocacy then? The truth is, consistency matters. It is easy to shout from the sidelines now. It is harder to lead when it counts. When I raised this issue, I did so in good faith and not as an attack on the bank but as an earnest and unwavering appeal on behalf of those whose voices are often overlooked.

“Since then, I have initiated meetings with bank executives and directors to explore real solutions. That is action, not noise. That is leadership, not theatre.” Politicians from both sides of the aisle have spoken out about the lack of banking services on the Family Islands.

In Parliament last September, Long Island MP, Adrian Gibson, said his constituents are “suffering” with utility and infrastructure issues and the island’s sole ATM is frequently out of service and funds leaving tourists and residents frustrated.

“There’s one ATM and that is in Deadman’s Cay, and when you arrive there, more often than not, the ATM’s without cash, out of service yet again,” said Mr Gibson. “And I’ve constantly called upon the Government for Bank of The Bahamas to come to Long Island to provide banking services.

“This is inconvenient. It’s a burden when you have the one and only ATM machine in Deadman’s Cay breaking down constantly. Businesses are unable to accept credit cards, obviously, because of the Internet failures. Tourists can’t access money, and are left frustrated, inconvenienced and unlikely to return.”

Leonardo Lightbourne, MP for North Andros and the Berry Islands, addressing the House of Assembly during the 2023-2024 Budget debate issued a “plea” for intervention to resolve his constituency’s banking crisis with pensioners now forced to fly to Nassau to access funds and conduct financial services business.

“I would like to plead on behalf of the people of North Andros and the Berry Islands for an intervention and the presence of a local bank. An ATM (automatic teller) machine cannot meet the needs of the people. The North and Central Andros community needs a physical presence desperately,” he said.

“This is indeed a pressing issue that must be looked into urgently. Additionally, this is important to economic building and attracting investments in these islands. The people have suffered long enough and we need a bank now.”