“…current reality poses danger for company’s future”By Gary EleazarEminent Chartered Accountant Christopher Ram is of the opinion that the current realities at the New Building Society (NBS) illustrate the shortsighted management that prevails at the entity.Ram was commenting on the fact that at present persons are being told to return after as many as six months in some cases for their loans, a development according to him,Cheap NFL Jerseys China, which does not bode well for the company, in that it could create conditions where persons pull their assets.He expounded on this by saying that should the NBS continue to dissuade potential borrowers,Cheap Jerseys, then persons with assets in the company could infer a liquidity problem and pull their assets – and a run on the company is dangerous for its viability.“No financial institution tells borrowers to come back in six months.”According to Ram,Cheap NBA Store, the company desperately needs to make a public pronouncement on the status of the affairs of the company whilst providing the necessary documentation.Some persons seeking loans, and who were told to return after what they considered an extended period,Adidas Nmd r1 Pink, lodged complaints with Kaieteur News that the NBS had stopped giving loans, with some even claiming that they are being told to go to other banks.Chairman of the Board of Directors at NBS Dr Nanda Gopaul when contacted by this newspaper said that it was not that NBS had stopped issuing loans,Pat Tillman Cardinals Throwback Jersey, but it was just a matter of processing the numerous applications that the company had received.He explained that the spike was as a result of the “One Stop Shop’ campaign by the Ministry of Housing and Water wherein numerous persons are being issued with house lots.But this explanation, according to Ram, is ludicrous, given that any effective management team would have adequately prepared for the spike in applications and established a special team to handle the expected influx.He noted,MLB Jerseys From China, too, that another mark against the management of NBS is the fact that a loans sub-committee is yet to be established, adding that this could have helped in the processing of loan applications.NBS was mandated by its shareholders at the company’s most recent Annual General Meeting to establish a loans sub-committee.Ram emphasized that there is a need for the company to make a public pronouncement given that if the current trend persists it poses a significant danger to the company.