Managing Director of National Bank of Belize is forced out

Jose Marin

There is another resignation from a senior government post to report tonight following on the heels of the departure of the Esquivel family from government. When Laura Esquivel-Frampton was forced to resign from the Belize Tourism Board, two-term Prime Minister, Sir Manuel Esquivel, resigned as advisor to the P.M.; his wife, Kathy, also resigned as Chair of the National AIDS Commission. But tonight, we can confirm that, like in the case of Esquivel Frampton, Jose Marin has been ousted as the Managing Director of the National Bank of Belize, less than a year after he was named to the post. Marin was named MD when the Bank opened its doors last year in September. The news is that the board of the Bank which includes: Minister Joy Grant, Marion Palacio, Dylan Reneau, John Mencias and Hector Sabido met in emergency meeting today and then requested Marin to step down. From what we have been able to gather, Grant's C.E.O., Colin Young, had applied for a loan at the Bank, but in his view it was taking too long to process. It was brought to Marin's attention, but it was met with inaction. The Board also complains that there have been many more complaints of delays in the processing of loans. When we spoke to Marin today, he told us that under his watch he would not allow the bank to be politically, but professionally run and that in fact, he was going to resign about a month ago because he could no longer see eye to eye with the Board. Marin's resignation is effective immediately. Despite the alleged delays in loan processing, Prime Minister Dean Barrow reported earlier this year that two point six million dollars in mortgage financing has been disbursed.

Channel 5