Liquidators close final BanInter offices

The liquidation committee of Dominican bank BanInter will close the last remaining branches of the dissolved bank later this month, local daily Listin Digital reported. In an official press release, the liquidation committee stated that BanInter's remaining current account and savings account holders must personally ensure the transfer of funds to the bank's new owners Scotiabank before November 26. Canada's Scotiabank sealed a memorandum of understanding in September to acquire selected assets of BanInter. Under the agreement signed with Dominican financial authorities, the bank will take on 39 branches and 460 employees of the defunct bank, as well as buying selected financial assets including credit card, personal and commercial credits The Dominican central bank intervened BanInter, one of the country's largest and best known, after it was revealed to have engaged in large-scale fraudulent operations, resulting in the disappearance of almost 17bn pesos (US$657mn). The ensuing controversy prompted Dominican President Hipolito Mejia to request the US treasury department's advice on cleaning up the local financial system in the hope of a possible international economic rescue package. In mid-June central bank chairman Jose Lois Malkun told reporters Scotiabank was in talks to buy BanInter's assets and that the central bank and the private banking sector had allocated 50bn pesos to compensate BanInter account holders.