Banking

Here is a picture of Jean Baden Dubois who became the new BRH governor, replacing Charles Castel.

By a Presidential Order dated 23 November 2015, which has been released on December 17, 2015, John Baden Dubois became the new Governor of the Bank of the Republic of Haiti, replacing Charles Castel. Prior to this appointment, Jean Baden Dubois was acting as the CEO of the bank. In 1991, Charles Castel joined BRH as an advisor to then Governor of the bank. Thereafter, serving in various capacities, namely General Counsel, Director of Banking Supervision and General Director, he became the Governor of the bank in 2007 and served till December 2015. Castel was instrumental in spearheading the government's successful privatization program. As per the presidential decree, the reconstitution of the board was necessary "Considering the temporary dysfunction of the Legislative Power" and "to ensure the regular functioning of institutions and government agencies". The new council of BRH would be composed as follows: Jean Baden Dubois: Governor; Georges Henry Fils: Vice-Governor; Georgette Jean Louis: Director General; Kurdy Larèche: Member.

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Here is a picture of the Centre de convention et de documentation, BRH.

On Tuesday, November 17, 2015, President Michel Martelly and Governor Charles Castel inaugurated the convention center and documentation of the Bank of the Republic of Haiti (BRH) located at the corner of Paved streets and Quai in the capital city and unveiled a monument for the victims of the earthquake of January 2010. The center has been built over an area of 6,000 square meters as per earthquake and par cyclonic resistance norms at a cost of $14.5 million. The center with a capacity to accommodate 1,500 people will employ state of the art technologies and consists a multifunctional exhibition room, an area of documentation, a dressing room for artists for musical and theatrical performances and a restaurant. The President expressed his warm congratulation to the Board of the BRH and other actors involved in the construction. Prime Minister Evans Paul and other dignitaries from the social and business sectors were present during the occasion.

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To create interest among old and new customers, Digicel has decided to transform its TchoTcho service into Mon Cash.

Digicel's Tcho-Tcho has been re-branded as Mon Cash. For subscribers no standard bank account is necessary to use Mon Cash. The updated version includes more functionality with an expanded network of authorized agents. Account types offered include mini and comprehensive portfolios and a regular account.

The new version is focusing on intra-Haiti money transfers. Digicel boasts Mon Cash ". . . the safest, most convenient, fastest and . . . economical to send and receive money . . ." in Haiti.

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Here is a picture of Haiti Central Bank Governor, Mr. Charles Castel. He is not concerned Gourde is losing Value.

Charles Castel, Bank of the Republic of Haiti Governor, is responding to worries the Haitian gourde is losing value too quickly. According to him, "There is a gross reserve of $2 billion (US), and $1.2 billion net ". in the state's reserve"

He reports "indicators are not too alarming (but also) . . . we cannot be complacent to say everything is fine . . ." Is this reassuring to Haitians withdrawing money and sending it overseas?

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Despite recent news that the value of the Haitian gourde was depreciating at a rapid rate, Governor of the Central Bank, Charles Castel, remains convinced that the dollar will not touch 50 gourdes by the end of 2014, though the month is still young, and the dollar is already at 47 gourdes. His reason for thinking this is that December and the season represent a time when foreign remittances will be high. Apart from certain steps being taken by the bank to stop the process, the call has gone out for a ramp up in the production of local goods to reduce the import bill.

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The financial institution in Haiti Sogebank is in a situation at its branch in Leogane. There is a major protest by the population of Leogane after the disappearance of 2,144,000 gourdes at Sogebank in Léogâne.

Sogebank Theft of $2,144,000 Gourdes Causes Violent Protests

Sogebank is being vilified by the Léogâne community, which staged violent protests after a Sogebank teller was arrested for embezzling $2,144,000 gourdes. They claim the teller is innocent.

Sogebank turned the case over to the Central Directorate of the Judicial Police, who arrested the teller. The Port-au-Prince Prosecutor's Office obtained a warrant and remanded the teller to the National Penitentiary.

Sogebank has released administrative/legal records to show the teller was arrested, based on co-worker interviews at the Léogâne branch

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Launch of the Information Office on the Credit (BIC), a new State structure for the recovery of investment and credit in Haiti.

BIC has for objective to intervene to support the Government's development strategy for the micro, small and medium enterprises.

Prime Minister Lamothe, to stimulate growth of small and medium business investments, inaugurated the Credit Information Bureau (BIC), a new state agency. Announcement of BIC occurred at the Karibe Convention Center with officials of the Republic of Haiti Bank, Inter-American Development Bank, and International Finance Corporation present.

Lamothe said BIC will ". . . promote private sector development, and strengthen the foundation for . . . sustainable economic growth, through democratization and expansion of access to Production Credit."

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Haitian families that don't have access to more modern sources of funding rely heavily on the profit they make from raising and selling livestock, especially goats, for their livelihoods. With the help of the Asosyasyon pou Pwoteksyon Anviwonnman Gwomòn, the Lambi Fund was able to hand out 132 goats to families, and provide them with tools and training to help them build a sustainable cycle. From the sale of these goats at the market, families can provide better food, education and health for their dependents.

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The administration of Dumarsais Estime included a coalition of dissidents who led opposition to previous regimes. He did not receive lot of support from the American government who viewed his government unfavorably. His government was labeled left-wing. Dumarsais tried to solidify ties to the United States by exaggerating the communist threat to his government.

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One single act that has affected the living condition of the Haitian peasant for a log time is the nationwide slaughter of Creole pigs. This is to date considered one of the government's single most devastating moves.

This took place in the 1980's in Haiti and the Haitian peasants have not recovered since. This was based on fear of the American government of a swine flu outbreak that was happening in the the Dominican Republic. This problem was made worst with the import of a different type of pig to Haiti to replace the Creole pig. However, this new breeds could not adapt to the Haitian environment and became more expensive to maintain

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