SN Brussels, LBDI Sign MOU to Collect Cash, Remittances, Others

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John B. S. Davies, III, President and Chief Executive Officer (CEO) of LBDI signed on behalf of his entity, while William Racinne, SN Brussels Country Manager to Liberia also signed on behalf of his company.

As part of their joint commitment to do cash collection and take care of their remittances and also extend financing to its staff, one of the leading commercial airlines operating in the country, Brussels Airlines, on Monday, December 31, signed a memorandum of understanding (MOU) with the Liberian Bank for Development and Investment (LBDI).

John B. S. Davies, III, President and Chief Executive Officer (CEO) of LBDI, signed on behalf of the bank, while William Racinne, Brussels Airlines Country Manager also signed on behalf of the carrier.

Under the MOU, LBDI will be responsible to do other banking services for SN Brussels, including wire transfer as well as cash collection.

Mr. Davies, who spoke to journalists after the signing ceremony at Brussels Airlines’ Sinkor office in Monrovia, welcomed the steps taken by SN Brussels to collect more cash on behalf of the airline.

“We are able to give them an extended hours, all of the things that are strategic to customers and what they will need from their bank and that is what LBDI has done with SN Brussels,” he said. “So, it is without reservation that SN Brussels offered to renew this partnership and that is while we signed this important document today.”

He added, “Basically that is the reason while SN Brussels has been very happy with our services and we have been very happy in terms of a bank that provides them their daily banking needs.”

“We will be doing cash collection service, take care of their remittances and extended to the financing of the staff of SN Brussels and any other banking services SN Brussels will need to facilitate their business. We believe that all of us have the responsibility to work towards growing the economy in our weak way,” he said.

According to him, SN Brussels is in the airlines and tourism space, and the LBDI in the banking space. It is “our prayers and hope that this year (2019) will bring Liberia a greater fortune, positive result, growth in the economy, stability and peace.”

William Racinne, SN Brussels Country Manager lauded the management and staff of LBDI for such a bold partnership.

The partnership, according to him is a good one especially working with a renowned banking institution in the country. Mr. Racinne expressed the hope that his airline will continue to work with LBDI in collecting their cash and remittances.

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