Foreign Minister: New bank account for embassy in Belgium by July

BY July, the TT embassy in Brussels, Belgium should have a new bank account, after the old one was closed.

In February, the Prime Minister said the closure was not a result of TT's being named in the EU's tax blacklist.

“The closing of the accounts of some diplomatic missions by Belgian banks came as a result of the application of the EU law on anti-money laundering and countering the financing of terrorism,” Dr Rowley said then.

During Senate on Tuesday afternoon, UNC Senator Wade Mark asked if a forensic investigation had been launched into the embassy’s financial operations.

The question was posed to Foreign and Caricom Affairs Minister Dr Amery Browne, but he was absent owing to illness, and Trade Minister Paula Gopee-Scoon gave the answer on his behalf.

She said TT has complied with all the requirements of the Financial Action Task Force and that: "It is therefore a false premise to state that the closure of the bank account...was part of the EU's measures to mitigate money-laundering risk.

"In reality, as a result of new banking protocols in Belgium, many embassies and/or foreign missions have been adversely affected, and many foreign missions in Belgium have been required to close their existing bank accounts and make new banking arrangements.

"TT is, therefore, not unique in its current challenges," she said.

She said the embassy is in the process of switching banks to BNP Paribas Fortis, a private banking company. Most of the paperwork, she said, has already been done, as well as an online interview with a bank representative.

However, she added, "In the interim, until all new arrangements are in place with this bank, the alternative arrangements for payments of salaries and bills have been made.

"It is expected that the new bank account will be opened in early July 2023."

On Mark's suggestion of an investigation into the embassy's financial operations, she said it was unnecessary.