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PARAMARIBO — Omdat hij vermoedt dat zijn echtgenote een liefdesrelatie heeft met haar werkgever is Dines M. er dinsdag toe

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FILE PHOTO: Central Bank of Trinidad & Tobago –

THE Central Bank issued a provisional registration to PayWise Ltd to become an electronic money (e-money) issuer on Wednesday.

E-money is an electronic store of monetary value on a technological device (including mobile phones) that may be widely used for making payments to entities other than the e-money issuer.

The device acts as a prepaid bearer instrument which does not necessarily involve bank accounts in transactions.

E-money can be used for payment transactions with or without bank accounts. Examples of e-money include pre-paid cards or web-based services, such as PayPal.

In a statement, the bank said the provisional registration authorises PayWise to issue e-money in TT from September 1.

Under the terms of the provisional registration, PayWise will be allowed to enlist new customers in a controlled environment monitored by the Central Bank.

PayWise is a company incorporated in TT in 2013. The company was registered as a payment service provider since 2019 by the Central Bank. On its website, the company said its mission is to “provide alternative means of payments that are easy to use, convenient and secure.”

PayWise will be the first company, apart from banks and non-bank financial institutions, authorised to issue e-money domestically. This is allowed for under Section 17(4) of the Financial Institutions Act.

Entities allowed to apply to become e-money issuers include money remitters registered with the Financial Intelligence Unit (FIU) and credit unions. A money remitter is a payment service provider that accepts funds from a payer for the purpose of making them available to a payee, without necessarily maintaining an account relationship with the payer or payee.

Information on the Central Bank’s website showed that entities applying to become e-money issuers must comply with all anti-money laundering and counter terrorism financing regulations of the FIU.

The bank also states that e-money issuers in TT are prohibited from doing certain things. These include issuing or allowing joint accounts and only issuing e-money in TT currency.

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Opposition leader Allen Chastanet told reporters Wednesday that he had presented documents to House Speaker Claudius Francis regarding a claim made in parliament the previous day.

The claim came amidst debate on the Special Prosecutor Act aimed at addressing corruption by incumbent public officials and others who have demitted office.

Chastanet had declared in the house that Castries South MP and former Saint Lucia High Commissioner to the United Kingdom Dr. Ernest Hilaire had a joint account with late Saudi billionaire Walid Juffali.

Juffali received an appointment in April 2014 as Saint Lucia’s Permanent Representative to the International Maritime Organization (IMO).

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Chastanet made the joint account claim while calling attention to the Hilaire Range Rover controversy, which the opposition United Workers Party (UWP) dubbed ‘Rovergate’.

But Hilaire, accusing the Micoud South MP of ‘stepping out of line’ and misleading the house, told parliament that he never had a joint account with anyone in his life.

However, Chastanet declined to withdraw his statement and promised to present evidence the next day.

“I have provided to the Speaker of the House already a letter from the Auditor General indicating that the account existed,” the former Saint Lucia Prime Minister told a news conference on Wednesday morning.

According to Chastanet, the letter indicated that no permission was sought to open the account, that 66,500 pounds were placed in it, and monies from the fund went to some staff members.

He said he also provided the Speaker of the House with letters from the Accountant General.

“I also have copies of the opening of the account and that the account was in the name of Ernest Hilaire as High Commissioner and that the co-signature on it was Juffali as the Ambassador,” Chastanet told reporters.

And he explained that he would provide the remaining documents ‘early next week’.

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Education Minister Kay McConney has congratulated the full cohort of over 3,000 students who wrote the 2022 Barbados Secondary Schools’ Entrance Examination (BSSEE), commonly known as the 11-plus and Common Entrance.

With many parents and adults putting much stress on students about passing to the “good schools”, the Minister took a moment to encourage all students to be happy with their results.

“I offer my congratulations to all of the students , all of you…

“Remember it is not where you go but what you do when you get there,” she advised.

Furthermore, she called on the students, “be proud to go to your secondary school and wear the colours well, do your best and give your best. Know that the Ministry of Education, Technological and Vocational Training will do everything in our power to support you in the best of outcomes.”

From today, parents could apply for reviews of scripts in-person at the Ministry of Education or for transfers via the online form on the Ministry’s website.

As it pertains to the applications for transfers, Acting Chief Education Officer Joy Adamson told parents and guardians desirous of a switch that the Ministry will assess that all the requirements are met and “it is not a first come first served basis.” She insisted it depends on spaces available and if the students fall within the particular range.

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