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January 17, 2026
GBTI on Friday launched private banking services, signalling growing sophistication in the financial system and confidence in the country’s economic trajectory.
President Dr Mohamed Irfaan Ali, delivering the feature address at the official launch, described the new service as a “quiet but significant marker on the road of progress,” noting that private banking is a natural evolution in a growing and more complex economy.
“Private banking is not about stratifying customers or exclusion, it is about meeting different demands in a more sophisticated economy,” the President said. He elaborated:
“When banks begin to segment their offerings, it tells us that wealth creation, business complexity and professional demands are increasing.”
President Ali said today’s investors and entrepreneurs require financial solutions tailored to their needs, investment advice, and stronger relationships with banks. He noted that private banking goes beyond transactional services, offering strategic guidance aligned with personal and business financial portfolios.
The head of state highlighted broader changes in the banking sector, including simplified account opening processes and the expansion of services into fields, markets and communities as part of government efforts to improve financial inclusion.
“We are one of the few jurisdictions where you see banking in the fields and banking in the markets. That is deliberate,” President Ali said, adding that “The first step in building personal wealth and opportunity is owning a bank account.”
He stressed that modernisation must occur across all levels of the financial system, urging commercial banks to leverage relationships with high-value clients to support small and medium-sized enterprises, encourage consortia, and strengthen value chain linkages.
“This is how we accelerate growth, accelerate development, and create wealth at every level,” he said, citing collective enterprise models that have transformed small vendors and young entrepreneurs into viable businesses.
President Ali rejected the notion that private banking is elitist, likening it to modern healthcare where general and specialised services coexist.
“Sophistication is not exclusion. Diversity of services is not inequality; it is maturity,” he stated.
He also outlined the government’s broader financial sector reform agenda, including a national electronic payment platform, stronger regulatory oversight, improved deposit and payment systems, and a shift toward a less cash-based economy.
“A modern economy cannot run on yesterday’s payment systems,” he said, noting that electronic platforms will improve efficiency, strengthen tax collection, streamline payments and reduce economic costs associated with outdated banking practices.
President Ali further announced plans for a development bank to provide interest-free financing to limited and micro-enterprises, alongside efforts to create a national credit system to accelerate loan processing and improve access to finance.
“The transformation of the financial sector will not be cosmetic or incremental, it will run deep into the very structure of our banking system,” he affirmed.
In brief remarks, GBTI Chairman Suresh Beharry said the launch marks a new chapter in the bank’s history of supporting national development. He described the service as built on trust, personalisation and long-term relationships, combining experienced relationship managers and specialist advisors in investment, credit, philanthropy and estate management.
Beharry also welcomed the President’s commitment to comprehensive financial legislative reform, noting that updates to laws governing banking, insurance, securities and companies are critical to supporting the rapidly expanding economy while safeguarding financial stability.
President Ali congratulated GBTI on the initiative and reaffirmed the Government’s commitment to working closely with the banking sector to advance modernisation.
“A modern Guyana deserves a modern financial system. Standing still is not an option. Progress demands that we move forward together,” he said.
