foundation
The Foundation Guarantee Bedrijfskrediten, was founded on this date of. 11 July 2014 in accordance with the Articles of Association. After approval of the statutes they are published in the Government Advertiser of the Republic of Suriname d.d. Friday 22 augustus 2014 No. 67.
The Manager is responsible for the implementation of the policy of the Board and manages the Foundation.
In accordance with article 11 of the Articles of Association are as follows the duties of the Manager:
- the management and administration of the funds belonging to the Foundation, such that there is no mixing with the Administrator equity occurs;
- taking care of the administration and conduct of the secretariat of the Foundation. The latter also includes the unwinding of the correspondence, as well as preparation and aftercare of the periodic meetings of the Board;
- the, in consultation with the Board, formulating the procedure to handle- and conduct with regard to the relationships with the stakeholders of the Foundation;
- The purpose of Directors draw up half-yearly reports and the current year report on the state of affairs and the Foundation's financial position, as well as in consultation with the Board conceiving the annual budget for the coming year;
- the benefit of the Board in banking and legal sense keys guarantee applications;
- carrying out on behalf of the Directors of all legal acts to realize the objectives of the Foundation, including:
- the expense and risk of the Foundation's resources and in accordance with the approved financing proposals by the Board entering into guarantee agreements with eligible credit institutions; as well
- on the basis of the agreements referred to under i settle any financial liabilities to credit institutions;
- to supervise compliance with the conditions and obligations of the credit institutions, arising from the guaranteeing of agreements concluded with them on behalf of the Foundation;
- invest temporary surplus funds in accordance with the Board by providing guidelines and where relevant the permission of the Board; and
- solicited and unsolicited advice to the Board on matters relating to inter alia the achievement of the objectives of the Foundation.
History
The Foundation Guarantee Business Loans in 1979 founded with the aim of promoting investment in all sectors, with the exception of the trade. Its task assignment inherited achieve this goal by providing certain conditions of guarantees to credit institutions for commercial loans granted by these institutions.
the tide has turned after a satisfactory initial period and discontinued operations, mainly due to the devaluation of the value of the fund. by the administrator 1997, together with the then Directors of the Fund, made the first attempts to revitalize the Fund. Because of the lack of results so and due to natural attrition of directors of the Fund for the period thereafter, is in 2002 the only remaining member of the board transferred the entire archive of the board to the manager and the sole member also formally thank the Board of the Fund. Due to a dispute between the last board and the Ministry of Finance, of claims by the former (last) Board regarding the current value of the fees payable to the latter by the Minister of Finance decided to Central Land Audit (CLAD) in turn for an overall review of the fund. On the basis of the report of the CLAD d.d. 26 augustus 2002 no. 519 is then proposed to dissolve the Foundation. Subsequently, the Council of Ministers (RVM) approved a proposal for its liquidation and dissolution.
The decision of the RvM was not implemented and finally in 2009 the reactivation of the fund again arrested resulting in the appointment of a new administration in 2014.