We at the Social Security Board are disappointed by the Press Release issued by the former Minister of Finance, Mr. Victor Banks, wherein he renders unsolicited advice based on what he himself correctly terms "Rumours".

It is quite unfortunate that a man who was the Minister with responsibility for Social Security for "nearly 16 years" would venture to issue a Release based on self-confessed rumours. That is clearly irresponsible.

The more prudent course of action on the part of the former Minister of Finance would have been to contact the Chairman of the Board to discuss the rumours which concerned him.

This Social Security Board wishes to advise the people of Anguilla that it has not contemplated withdrawing all its funds from the two local banks. We are, however, acutely aware that it is imprudent for the Board to have all its funds deposited in only two banks. As Mr. Banks correctly stated, "There is much to be said for not having 'all your eggs in one basket' ". All the Social Security Board's "eggs" were placed in the two local baskets during the period when Mr. Banks was the Minister of Government responsible for Social Security.

This Board has begun to do its business differently, and at all times in the best interest of the Social Security Fund, the Contributors and Beneficiaries, and the island as a whole. This Board does not take into account "..providing dividends for [the indigenous banks] shareholders", or what is, or is not "..a strategic component of the business plan of the indigenous banks."

The rumours upon which Mr. Banks has predicated his disquisition are false, and have been maliciously fabricated and disseminated by persons known, in the comfort of their gathering place in downtown The Valley.

Thomas Astaphan
Chairman
Social Security Board.

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