PORT OF SPAIN, Trinidad, CMC – The business community is awaiting the next move by the authorities after the weekend dismissal of the chief executive officer of the Export Import Bank (EximBank), Navin Dookeran.
The dismissal of Dookeran, the son of a former finance minister and central bank governor, Winston Dookeran, came less than three months following the appointment of a new board of directors by the government and a warning from Prime Minister Kamla Persad-Bissessar that the lack of transparency in foreign exchange allocations was creating deep distortions in the economy, concentrating wealth in the hands of a few while placing small and medium enterprises under strain.
In a statement, Dookeran, who had been in the position for the past six and a half years, said he was “proud of what we accomplished during my tenure, and I wish the best for the institution and the country”.
No reasons were given for the removal of the former commercial relations manager of the RBC Financial Group in Toronto, Canada, and lecturer and programme director at the UWI-Arthur Lok Jack Global School of Business.
Finance Minister Davendranath Tancoo said the “positive transformation” the country voted for in April was underway. He emphasised that leadership changes are expected to support organisations and staff in achieving the “best fit for purpose,” suggesting they may affect internal operations and employee roles.
In September, a daily newspaper reported leaked data showing that pharmaceutical and poultry companies dominated the bank’s foreign exchange distributions over the past five years.
According to EximBank records, from 2020 to mid-2025, the institution allocated US$1.4 billion in forex to 123 companies under the essential window.
The Greater Tunapuna Chamber of Industry and Commerce (GTCIC) stated that Dookeran’s departure, though lacking disclosed details, is an opportunity for renewed direction and governance.
GTCIC expressed hope that the transition would improve transparency and efficiency in forex allocation, with businesses seeking clearer communication and simpler processes.
“A stronger, data-driven approach—supported by technology, stakeholder consultation, and robust oversight can help rebuild confidence and ensure that the FX made available through EXIMBANK is effectively channelled to sectors that stimulate employment, investment, and national competitiveness,” said GTCIC president Ramon Gregorio.
The Greater San Fernando Area Chamber of Commerce said Dookeran’s removal has generated unease among importers and SMEs, who are already struggling with limited access to foreign exchange. The chamber highlighted that the leadership change could intensify these challenges, directly impacting business operations and planning.
“The sudden termination of EximBank CEO Navin Dookeran naturally raises concerns, especially with the Christmas season approaching. During this period, businesses depend on timely access to foreign exchange to maintain inventory and meet customer demand, so any delays could disrupt their preparation and sales,” the chamber’s president Kiran Singh told the Express newspaper.
“Any abrupt leadership change can create uncertainty, and there is a real possibility of short-term delays or tighter forex allocation,” he said, adding that the transition must be managed carefully to avoid disruption and respect accountability.
Singh stated businesses now seek a CEO with integrity, transparency, and commitment to fair forex distribution. Stability, fairness, and clarity are essential.
Chief strategic officer and board member of the Confederation of Regional Business Chambers (CRBC), Angie Jairam, said the timing of the leadership change is particularly sensitive.
Jairam noted that the leadership change comes amid ongoing forex distribution issues and urges a smooth transition to greater equity during the busy season.
President of the Chaguanas Chamber of Industry and Commerce, Baldath Maharaj, acknowledged that the government and the EximBank board may be pursuing a new strategic direction.
Maharaj noted that the government and the new board may seek a refreshed strategy for the bank and respected their authority to decide.
He emphasised businesses need a transparent, fair, and stable process to support national growth.
The EXIMBANK, which originated as the Trinidad and Tobago Export Credit Insurance Company Limited (EXCICO), established by the government in 1973 to promote exports, was officially converted into the present-day EXIMBANK in 1997, gaining broader financial powers.
On November 4, 1997, the Ministry of Finance issued an order converting EXCICO into EXIMBANK, allowing it to operate as a full financial institution.
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