Bahamas Development Bank’s Managing Director to Resign


Mrs. Arinthia S. Komolafe
Mrs. Arinthia S. Komolafe

Nassau, Bahamas – The Managing Director of the Bahamas Development Bank, Mrs. Arinthia S. Komolafe has tendered her letter of resignation to the Prime Minister and Minister of Finance – the Rt. Hon. Perry G. Christie.

The Bank chief shared some of her thoughts on her time at the institution. “It has been quite a journey with much challenges but I am proud of the work that we have done as a team in spite of the many challenges that we have faced. I leave the Bank knowing that I have done my very best with the minimal resources available and despite the enormous limitations that confronted us daily.”

The requisite notice had been provided to the Minister of Finance to allow for the appointment of a suitable replacement and ensure a smooth transition period.

“I am hopeful that the good work that we began by seeking to create a culture of professionalism, implementing appropriate internal controls, putting in place a robust provisioning policy, devising a strategic plan, proposing an effective corporate governance framework, spearheading a focused initiative to clean up the loan portfolio, pursuing legal action against chronic defaulters and enacting a “no sacred cow” policy for the recovery of funds owed to the Bank will be built upon by my successor” Komolafe continued.

“I wish to publicly thank the Prime Minister for reposing confidence in me and providing me with an opportunity to provide public service to my country over the past few years” she concluded.

Mrs. Komolafe leaves the helm of the Bank to pursue other endeavors and remains committed to serving the Bahamian people. The effective date of her resignation is 31st March, 2016.

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