May 23, 2014, 9:43 AM
The release issued to the press yesterday by Trust Bank management stated that the termination of contract between the two institutions was decided by Western Union because, according to the union, Trust Bank had business links with someone deemed to be on the US anti-terrorism list.
The release stated: “We regret to inform you that our contract with Western Union, as a Master Agent, has been terminated and as a result we will no longer be offering Western Union money transfer services.
“This has come as a major surprise as Trust Bank has been the established Agent in this market over the past two decades.
“Western Union stated that the proprietor of one of our point of sale shops was on the US anti-terrorism list and, therefore, our business link with the shop contravenes the law and the rules of our Agreement.
“We shall continue to dialogue with Western Union for reinstatement in the coming months.
wish to apologize to all our numerous customers and well-wishers for the
inconvenience this will cause in offering the complete bouquet of Trust Bank
services to them.We look forward to
continuing to offer you trusted and superior services in all other areas, even
as we pursue discussions with Western Union.”