Giftland opens cambio

The newly opened cambio located on the second floor of the Giftland mall

…Chairman hints at addition of commercial bank soon

THE Giftland Mall, located at Turkeyen, launched its own currency exchange centre on Saturday evening with the aim of making business easier for Guyanese.

“The mall has been lacking this (currency exchange services) since its opening and it’s something that we’ve been working towards for the last three years,” Chairman of the Giftland Group of Companies, Roy Beepat said.

He noted that the Giftland group of companies have been trying to offer this service for the past three years, but was only recently granted permission by the Bank of Guyana after meeting all the requirements of the Anti-Money Laundering and Countering of Financing Terrorism Ac.

“This is something that is sorely needed because as we all know in Guyana, it is illegal to accept foreign currency except at authorised places,” Beepat noted, adding that this was hugely demanded at the shopping complex which has seen some 12 million persons visit since its opening almost four years ago. He related that the cambio was the 95th concession in the mall, and it was something that the other concessions’ owners have expressed appreciation for.

Importantly, he also noted that the cambio also aims to make business easier for Guyanese returning home. “It cuts out the inconvenience of having to go to a cambio or a bank (instead) you can come up to the Giftland Mall and be totally legal and have your money changed at going rates,” he explained.

The Chairman also noted that this is just one area of financial services that the complex is going to open this year. “We have another big surprise coming this year in terms of financial services,” he said, hinting that a commercial bank may soon be seen at the complex. This according to him, would make business transactions even easier. In light of this, he explained, “It’s a matter of having a very large range and diversity of products so that when you come to the Giftland Mall you can get most of your shopping needs.”