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Banks Forced To Increase Security
In light of the increasing crime rate in the country banks have been forced to step up its security. Managing Director of Republic Bank David Dulal -Whiteway says his bank spends more money now on security than it did ten years ago.
He says if the crime level is not adjusted immediately it could start affecting not only foreign investments but local businesses. In an interview with WINNEWS today Mr Dulal-Whiteway says security firms have now increased their costs and the demand for security officers has gone up.
Also Republic Bank has had to double the number of security officers at all its branches. However, the bank’s head was not in a position to give an exact figure on how much is being spent on security now.
The Global Competitiveness Report done by the World Economic Forum indicated that the crime rate is negatively affecting this country’s competitiveness.