NCB dismisses Rumour

National Commercial Bank (NCB) has finally responded publicly to a rumour that has been swirling since at last week that the bank was blocking, holding up not accepting deposits destined to OLINT accounts. Radio Jamaica reports the following

The Bank says while it awaits the decision of the Court of Appeal, it cannot lawfully refuse to accept any deposit which Olint would wish to make to its accounts, and insists it has not refused to take their deposits or to do any other transaction

It is also understood that NCB had an ad in the Newspaper too with similar information. This release also confirms that OLINT actually appeared to have won a battle and the courts had granted an extension on the injunction barring NCB from closing its accounts. 

Brokers say not me

Based on information that we have, two brokers, Oanda and FX solutions have indicated they(the brokers) are not under due diligence and are not being investigated. The situation at I-Trade is well documented on this site and I-Trade was not blamed by David Smith in his Nationwide Interview.

FSC weighs in

Today, the FSC has also weighed in and stated that they are not preventing OLINT from paying their clients and that OLINT is free to honour their obligations 

If the information that we have is correct, it now appears that the FSC, brokers and NCB are not the problem.  



OLINT Local Offices Closed

We now have the letter sent to OLINT club members earlier this morning. The first thing that the letter confirms is a rumor that the Braemar Avenue based Club Member Care Office in Jamaica would be closed as of July 14, 2008. It appears that threats, including a bomb threat, have been issued to staff members. We are not sure if a report has been made to the Police. The letter reads as follows:
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