Julius Joseph Corbett, a native of Atkinson, Dominica is the new General Manager of the Dominica Agricultural Industrial and Development Bank (DAIDB), also known as the AID Bank.
Mr. Corbett, has over 30 years’ experience in Financial Management, which includes Banking. “I feel excited about my role at the helm of the AID Bank” states Mr. Corbett, “ I have always wanted to be involved in Development Banking in Dominica, which provides an ideal avenue to focus more strongly on tourism, agriculture, light manufacturing, education and housing.”
“The AID Bank means a lot to Dominica and Dominicans and is a pillar of economic development for over 40 years.” In addition to maintaining that momentum, says Mr. Corbett “I intend to improve the liquidity position of this indigenous Bank, strengthen its financial controls and continue to build on the partnerships that have been established with other local commercial institutions, so that we can all enhance the local economic climate by building feasible businesses and creating more jobs.
The new AID Bank General Manager expresses a strong interest in strengthening the Human Resource of the Bank, which he claims is very impressive when compared to other Development Banks in the region.
In spite of the challenges of the global financial climate, Mr. Corbett recognizes that overall; the Banking Industry is still very competitive. He also states that Dominica is among the most liquid islands in the OECS and therefore, he would like to capitalize on that liquidity, thus enhancing the social and economic environment of the island.
Mr. Corbett sees the AID Bank as playing a greater role as an investment entity and working with multiple funding agencies to find the funds to on-lend to the diverse businesses.
He expresses concern however “that because the bank is owned by the Government of Dominica and the Dominica Social Security – by statute, people feel that they should not be obligated to honour their commitment,” but he emphasizes that “the AID Bank is business and will be managed as such.”
Julius Joseph Corbette, a former General Manager of the National Bank of Dominica, commenced his duties as the General Manager of the AID Bank on 7th May, 2013. He is preceded by Kingsley Charles Thomas of Jamaica, who served the Bank in the capacity of General Manager / Consultant from December 2008, until he demitted office in March, 2013.