Written by Romaro Scott
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Topics: Economy, Banks

Tuesday, 15 July 2008

National Commercial Bank Jamaica Limited says there is no truth to rumors recently regarding the restriction of activity on the accounts of Olint Limited.

The court injunction in place requiring NCB to keep the accounts of Olint open requires that the Bank must continue accepting deposits and encashing withdrawals in the normal manner.

The Bank says while it awaits the decision of the Court of Appeal, it cannot lawfully refuse to accept any deposit which Olint would wish to make to its accounts, and insists it has not refused to take their deposits or to do any other transaction.

The bank states it has no interest in preventing Olint from meeting its obligations and dismisses any statement to the contrary as untrue.

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