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Families for Justice on National Appraisal Services through RBC and Scotia Bank
By Rev. Glenroy Bethel President, Families for Justice Organization
Sep 9, 2014 - 11:45:03 PM

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The President for Families For Justice has taken a serious issue, with a recent decision by the Minister of State for Foreign Investment  Mr. Khaalis Rolle, who was instrumental in the granting of a Business License, to a Canadian Company by the name of (NAS) which is National Appraisal Services .  This information was recently Publish, in the Business section of the Tribune Dated July 8, 2014.

It is reported, that NAS will be responsible for all  of Royal Banks and Scotia Banks appraisals  in the Bahamas, regarding Mortgage Properties with the Banks. Scotia and Royal Banks were very instrumental,  in the support of the National Appraisal Service regarding  all Mortgage Properties with the Banks in the Bahamas.

It is our Organization view, that This move by the Banks, Creates a Conflict of Interest with Scotia Bank and Royal Bank involvement with the National Appraisal Services, and the General public,  by allowing (NAS) to have  the sole rights, to appraise all Mortgage Properties on behalf of the Banks. This action by  Scotia Bank, Royal Bank and the National Appraisal Services took effect July 21, 2014.

As of this date, no appraisers in the Bahamas will be allowed, to appraise Mortgage Properties for Scotia or Royal Banks. The granting of this Business License, was illegal  according  to the Real Estate Act: which states, that a Broker or Agent must be a Bahamian Citizen or have Permanent  Residency in the Bahamas. And if the conditions is not met, the License must be Revoked.

It is Families for Justice Position, that the President on behalf of the Organization, make this plea to the Minister of State for Investment and the  Government of the Bahamas and the President of the Bahamas Real Estate Association, to revoke the National Appraisal  Services Business License, according to the Real Estate Act.

This Request made on behalf of Families for Justice, will protect Thousands of Bahamian Properties, throughout the Bahamas. Subsequently it will protect hundreds of Jobs for Appraisers, throughout the Commonwealth of the Bahamas, We must Stop Scotia and Royal Bank from the Scheme, to Devalue Bahamian Properties in the Bahamas. The Business License For the  National Appraisal Services must be Revoke immediately.

Families For Justice  ( Freeport )
President
Rev. Glenroy Bethel

Disclaimer: The views expressed here are solely those of the author in his/her private capacity and do not in any way represent the views of TheBahamasWeekly.com


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