Tonight, I issue a stern warning to the boards and management of Republic Bank, First Citizens Bank, and Exim Bank. These institutions have not been operating in the best interests of our citizens, focusing instead on serving a select few. A concrete instance came to light recently which involved a prominent individual approaching Minister Jearlean John with a proposal. He presented documents outlining his intent to purchase land at Invaders Bay, financed through a loan from Republic Bank, and at a discounted price. Furthermore, he planned to construct a building on this land, financed by the same bank, which would then lease the building from him. This allowed him to repay the loan and make a profit. This is not an isolated incident, but a practice that has been happening in secret under the previous regime. The same problem persists at First Business Bank, where transparency and fairness are lacking, replaced by in-house deal making. To counter this, I have instructed my ministers to fill all vacancies across all ministries.
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