The Minister said there is no compelling or legitimate reason for a citizen to be walking around with large volumes of cash to do financial transactions as he pointed to the many alternative options available.
Dr. Singh was at the time delivering an address at the launch of GT&T’s second phases of its one – year – old Mobile Money Guyana offer – SHOP’n GO – boasting of a faster, safe and convenient way to shop in Guyana.
He said shopping with your mobile phone along with using plastic cards were among the two latest revolution in financial services that are available to Guyanese. To this end, he encouraged all to ensure that they make use of the alternative ways to access goods and services.
Dr. Singh said every time he hears of a robbery where the victim was carrying lump some cash he is saddened, while pointing out that he remains sympathetic to all victims of robberies.
He said the reduced reliance on cash dominated transactions is welcomed by the administration while pointing to the unviability of establishing a bank branch in all communities.
This is not the first time the Minister has sought to deter the carrying of large sums of cash. He was very vocal on the issue at the launch of the $5000 bill.
Recently, there have been abundant reports of robberies, some armed and violent, where persons carrying money were robbed.
Some have resulted in both victims and perpetrators losing their lives.