Proposals for a Community Bank

The older we get, the more preconceived ideas we have about things. These preconceptions often prevent us from seeing beyond what we already know or believe to be possible. They inhibit us from accepting change and progress. These preconceptions destroy the ability to accept change and the willingness to play with new ideas and possibilities. The creative person realizes that there are other possibilities. Throughout history creative thinkers have often been ridiculed, despised, jailed or even murdered. Their ideas have often been greeted with laughter and contempt. This is a fact of life and I am aware of it. So at the risk of been ridiculed or worse I will continue to voice my belief that we in Antigua and Barbuda can find new and better ways of doing things.

In it?s 2008 budget presentation the Government made the following statement:

In 2007 the Government advanced its Digital Agenda by continuing to implement various elements in the overall Information and Communication Technology (ICT) policy. In particular, the Government launched seven new Community Access Centers in communities across the island through which Antiguans and Barbudans can have ready access to computer technology. Each centre is equipped with state of the art equipment and manned by technical experts who can guide users in understanding and utilizing the technology. To facilitate the effective implementation of elements of the ICT policy, The Government spent about $10 million on ICT in 2007.

I cannot see what we got for $10,000,000.oo, but I know what we can get for $1 million. We can get 1,000 computers and more, therefore I am making the following proposal.

I suggest the government could give the tiny sum of one million dollars to the All Saints West Constituency, with which we could start a constituency bank. This could then be used to purchase and import one thousand computers which the community could in turn sell to the residents at a reasonable price of Fifteen Hundred Dollars. I suggest that at the beginning the bank should only finance computers, because I believe all the residents of the community should be given the opportunity to help decide how the bank should be managed and the internet is the best and most efficient way for us to communicate with each other.

As I envision it the constituency would appoint a five person committee to oversee the bank. The Government would then place the million dollars in a commercial bank, if possible in an interest bearing account. Once the money is in place the computers would be ordered, perhaps two hundred in the first instance. This committee would interview persons and approve or reject applications for loans. Once a loan is approved the person would be given their computer in the constituency, but payment would be made at the commercial bank where the real cash would be located and because every transaction would be done on line we would have full transparency. One result of this policy would be that unlike the central government which conducts the peoples business locked away somewhere In some cabinet, the community bank would conduct all it?s business online for all to see.

Another advantage that the bank would have is that the residents of the community; the shareholders, would receive no cash payments from the bank. What they would receive would be benefits. This would begin with a cleaner environment, but according to the success of the bank could expand to include even our roads. The shareholders could also decide what percentage of the profit should be reinvested, and how much should be used for social transformation

Email: dadianhenry@hotmail.com

                                             Rupert E. Henry