Some blogs are more interesting than others

Yesterday’s blog about the holier-than-thou Central Bank of Aruba yielded interesting comments and mail.

I fully agree, said a reader, the head of the CBA was part of management together with president CARAM at the time of the loss of the gold and secondly, NOTHING was solved. They just incurred the loss on the gold transaction. Also no visible consequences to this loss. Who polices the police??

Good question, who polices the police, because I remember a while ago, a newspaper on the island of Curacao, Antilliaans Dagblad, published an article titled Personeelslasten CBA Stijgen Fors, the article claimed that CBS spends 18.6 million florins on salaries, in 2018, and that this amount went up by 2 million, from 2017, 16.5 million in personnel.

I took out my calculator. That is an average of Awg 189.000/year per employee – the article states that the bank employs 98 people – higher than the commercial banks, AIB, Setar, Web and Elmar, all those institutions CBA exposed as relatively corrupt on that fated list in the Corruption Report 2018.

Of course we must mention here that the CBA’s president is President for LIFE, above judges and members of the RVD, Rekenkamer, ministers etc., which are capped at 70 years.

And talking about the banks. I recently had the dubious honor to deal with one of our commercial banks, it was an excruciating exercise.

We are over-regulated.

Try to open a bank account. Good luck.

It is much easier in the USA. Parking and walking in, is the difficult part. Then if you have two kinds of ID, a utility bill and a check, you are good to go, with a personalized credit and debit card.

This could never happen here.  

And basically it is ironic, corruption creeps in when things are over-regulated and little people cannot find their way in the bureaucratic maze. That over-regulation breeds resourcefulness and creativity, namely corruption.

And everyone remembers what happened to our free zone. That was over regulated.

CBA doesn’t have it easy: It’s an elegant tight rope dance, between two impossible goals, keeping them honest and keeping us in business.  

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September 05, 2019
Rona Coster