SLB board demits office
The Dr St Aubyn Bartlett-led board of directors of the Students' Loan Bureau (SLB) has demitted office.
Financial Secretary Darlene Morrison confirmed today that the board demitted office last month and a replacement has since been appointed.
However, Morrison was unable to say whether the board members resigned or were dismissed.
She was responding to questions from Opposition Member of Parliament Mikael Phillips during a meeting of Parliament's Public Administration and Appropriations Committee (PAAC).
"Can you shed some light on what are the issues facing the Students' Loan Bureau and why that resignation or firing took place," Phillips asked.
"I am unable to shed any light at this time. Certainly, it would be the Minister [of Finance] who would..." Morrison responded before she was interrupted by committee chairman Dr Wykeham McNeill.
"Yes, but did the board resign?" McNeill pressed.
"I would have to check. I am aware that a new board has been appointed, but I would have to check," the Financial Secretary replied.
The disclosure comes more than three months after a performance audit of the SLB revealed that its stock of non-performing loans ballooned from $1 billion to a little more than $11 billion over a five-year period ending in the 2017-2018 financial year.