As Guyana moves deeper into a modern, digitally focused economy, President Dr Mohamed Irfaan Ali has reported significant growth in the number of citizens now participating in the formal banking system.
Addressing the nation on Wednesday at the Arthur Chung Conference Centre, the Head of State disclosed that more than 600,000 Guyanese are currently integrated into the country’s financial system. The update was delivered during his presentation of the government’s economic and social plans for the next five years.
President Ali recalled that earlier this year he had urged citizens to open bank accounts, noting that the administration intends to channel social cash transfers through the banking system. He also pointed out that online banking services are already available at four local commercial banks, easing access to financial services, including for residents of hinterland communities.
As part of ongoing financial sector reforms, the President announced plans for the establishment of a junior stock exchange. These initiatives are in keeping with commitments outlined in the People’s Progressive Party/Civic’s 2025 Manifesto, which aims to build a more inclusive financial system.
The PPP/C Administration plans to work closely with commercial banks to expand banking services nationwide, simplify account opening procedures, and enable Guyanese to apply for loans and conduct transactions online within the next five years.
