–President Ali urges banks to take services into housing schemes, quarries, workplaces
PRESIDENT Dr Irfaan Ali has challenged commercial banks to move beyond traditional branch‑based operations, urging them to take services directly into new housing schemes, quarries and workplaces as part of a wider push to deepen financial inclusion and support small -and medium‑sized enterprises (SMEs).
Framing SMEs as central to Guyana’s transformation, President Ali said small businesses are not just commercial entities but engines of social mobility.
“SMEs are not simply businesses, they are dream factories, they are opportunity creators, they are employment generators, they’re also the bridge between poverty and prosperity for thousands of families,” he said at the commissioning of Citizen Bank’s new Region Seven branch.
He argued that banks must now adapt their models to reach customers where they live and work, particularly in emerging housing developments and key productive sectors.
“Outside of this building, I would like to see Citizen Bank in the housing schemes… where the lands are allocated… help them in the field to apply for their loans and let us help them in the field to have their business plans done,” he said, calling for coordinated outreach.
Ali pointed to successful “banking in the field” models in countries such as India and Bangladesh, noting that some of the world’s most successful SME ecosystems were built on direct engagement with underserved communities.
“Banking in the field is something that is old, but highly successful… reaching the unreached, finding innovative mechanisms to reach the unreached,” he said.
The President also outlined a vision for frictionless digital onboarding, suggesting that basic accounts should be opened as quickly and easily as a routine purchase.
He linked this to the government’s efforts to expand access to financial services, including the creation of tens of thousands of new accounts, and said banks should ensure their technology and procedures support this drive.
Ali further urged Citizen Bank to embed itself in local economic networks, singling out equipment distributors and quarry operations as examples where financial inclusion remains incomplete.
“Get to the equipment distributor. Get to the quarry that you have here. Ensure all the staff in the quarry have a bank account with you. It is enabling the environment around you to benefit from your position,” he said.
The President maintained that such outreach would strengthen both communities and the banking sector, as more workers gain access to savings, credit and other financial products, while banks build broader and more stable customer bases.
“What is the purpose of having a strong banking system if communities remain under‑banked? What is the purpose of financial stability if financial opportunity is not broadly shared?” he asked, insisting that this is the moment when commercial banks should embrace inclusion.
