Know The Financial Sector

February 10, 2021

Services Offered By Private Occupational Pension Plans

in Know The Financial Sector

by Super User

Employers may establish a private pension plan for the benefit of their employees, however, it is not mandatory under the Insurance Act 1998. Private Pension plans generally offer a retirement objective, inclusive of Retirement Benefits Termination Benefits Disability Benefits Sickness Benefits Survivors’ Benefits A private occupational pension plan or private pension plan is a legally binding contract with a retirement objective. This contract may be part of a broader employment contract or may be required…
February 05, 2021

Services Offered By Commercial Banks

in Know The Financial Sector

by Super User

The Commercial Banks in Guyana offer a number of services to the general public. Below is a list of some of the services offered: Deposit/Investment Accounts: Savings Fixed (Term) Deposits Special Investment Accounts Corporate/Personal Chequing Accounts Foreign Currency Accounts Credit Facilities: Loans/Mortgages Overdrafts Bonds Trade Financing (Export/Import Trade Financing): Letter of Credit Bill Discounting Invoice Financing Bills for Collection Bank Guarantee and Confirmations Inventory Financing Foreign Trade: Draft/Money Orders Negotiation Electronic Funds Transfers Traveler’s Cheques…
February 02, 2021

Meet And Greet With A Bank

in Know The Financial Sector

by Super User

Developing a relationship with a Bank strongly benefits you and helps you to better track and reach your financial goals. Let’s take a quick look at some of these benefits: Your money will be safe. Besides offering different options for investing your money, having a relationship with the bank opens doors to new banking products that you might need in the future. What if something unexpected happens? You can also obtain financial advice on the…

Financial Literacy for Schools

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