Financial Inspector Carl Hiralal too cosy with bankers he’s supposed to supervise

(click photo for large)

Shareholders, policy holders and citizens pay the price for trusting Hiralal

Sometimes things ARE as they appear.

An August 24, 2009 photo “Banking on Republic” in Trinidad & Tobago’s Newsday shows the happy Trinidad & Tobago Inspector of Financial Institutions, Carl Hiralal, having the honour of cutting the ribbon to open a new Republic Bank branch. (Oh, did we forget to mention that Clico owns 33% of the Republic Bank?)

The promotional message is clear: T&T’s Inspector of Financial Institutions is publicly declaring his approval of the Republic Bank and the bank personnel who appear with him in the photo: Derwin Howell, David Dulal-Whiteway, Gregory Thomson and Susan Williams.

There are other improper messages being delivered too…