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Friday, May 29, 2009
BOMI
to get Hawaii branch?
By GIFF JOHNSON
Bank of Marshall Islands effort to open its first branch in the United States will move forward this week with RMI Banking Commissioner Ann Marie Muller (pictured) issuing a letter approving BOMI’s application to the state of Hawaii. “There’s still additional work to be done for the bank to
with a US bank. The branch, if approved, would not handle deposits or issue loans. Muller said her office has been engaged over the past year with Secura Group officials. “The bank management and compliance department also has done a significant amount of work to address the Banking Commission’s recommendations,” she said. The RMI Banking Commissioner’s approval is the first step in BOMI’s application process. It then must get approval from the Hawaii State Banking Commission, then get the okay from both the US Federal Reserve and the US Federal Deposit Insurance Corporation. Muller said BOMI success in establishing a US bank branch is important for economic development of the country, and she is hopeful that the US government will “help the RMI achieve economic development and progress.
“This is significant progress and we are hoping for the best to come,” Muller said. “Helping our financial sector is a major step toward that goal.” She noted the bank is pursuing the most difficult option among those recommended by the Banking Commission in 2006. That same year, Citizens Security Bank of Guam terminated its relationship with BOMI because of increasingly strict US banking requirements for dealing with foreign banks, ending BOMI’s ability to have its checks transacted in the US.
This Week's
Inside Stories
FIRE! see picture above
No one was injured, but thousands of dollars worth of property damage is the result of a fire that broke out Sunday in a container-turned-house located on the oceanside of Kirt Pinho's residence in Uliga.
Regional fisheries
office for Majuro
Majuro is to host an important new regional fisheries office. Ministers from eight Pacific nations that control the majority of the $3 billion in tuna caught in the Pacific voted earlier this month to make Majuro the headquarters for the PNA Secretariat. Over the past year, the “Parties to the Nauru Agreement” (PNA) countries have flexed their muscles, seeking to enforce tuna catch limits to prevent over-fishing while at the same time increase the revenue flowing into the islands from the fishing industry.

Stores say
no to teenagers
A dramatic drop in illegal sales of tobacco to teenagers is being linked to a public awareness campaign over the past year. Although the rate of illegal tobacco sales is still high — one-in-four takeout stores in the RMI sold tobacco to minors — it is a big drop from 2008, when more than nine out of 10 were illegally selling.
Majuro to host key
regional summits
Majuro will play host this summer to two regional summits that will bring an estimated 100 participants to discuss regional economic and environmental issues of mutual concern and cooperation. In April, President Litokwa Tomeing’s administration approved the RMI’s hosting of the 9th Micronesian Presidents’ Summit and the 11th Micronesian Chief Executives Summit, which are scheduled to take place from July 13 to the 17.
July's day of darkness
The “best seats in the house” for the July 22 eclipse of the sun will be at Enewetak, Kili and Jaluit. The track of the solar eclipse will move on a southwest pattern from Asia across the Pacific, with Enewetak, Kili and Jaluit right in the middle of the path of the eclipse that will last about six-to-seven minutes in each location. On the fringe of the eclipse path are Namu, Ailinglaplap, Jabat, Namdrik and Ebon.
qualify on its own merits as a standalone bank with its own ABA (American Bankers Association) routing number,” Muller told the Journal. “But it shows significant progress has been made for my office
to issue an approval for application to the State of Hawaii.” BOMI hired the Los Angeles-based Secura Group — one of several US firms recommended by Muller —
to assist it in the application process.
Although the application process is at the very start, a BOMI official explained the significance of the move. “The single most important aspect is Ebeye has no access to negotiate checks off-island,” said BOMI’s Chief Information Officer James McLean. “We’re their only bank. If this goes through, it will give Ebeye banking services it needs.” The bank is seeking to set up only a “clearing branch” to act as a way to clear BOMI checks in the US. Currently, individuals and businesses with BOMI accounts can only transfer money to US companies by wire transfer — or by opening an account
Climate Change a
'life and death' issue
A focus of the PALM talks was Japan’s proposal to create a “Pacific environment community” that Kodama said is one way to focus on mitigating climate impacts. Kodama said that 6.8 billion yen (about US$66 million) will be injected into the Pacific Islands Forum for environmental and alternative energy projects. In addition to funding for environmental activities, Japan aid will support people-to-people exchanges, through its volunteer and related programs, and technical training programs for islanders. Thirteen countries — Niue, Kiribati, Federated States of Micronesia, Nauru, Marshall Islands, Palau, Samoa, Papua New Guinea, Cook Islands, Tonga, Tuvalu, Solomon Islands and Vanuatu — were represented at PALM by heads of state. Aso promised to provide aid and assistance for “practical, Pacific-tailored approaches to combating climate change, including responses addressing adaptation, mitigation and if necessary, relocation.” The declaration from the PALM meeting expressed “deep concern” about the “growing threat posed by climate change to the economic, social, cultural and environmental well-being and security of Pacific island countries.” “Japan wants to lead the world in the climate change fight,” Kodama said at a press briefing Friday. “Pacific islands are not responsible for it, but have to deal with rising sea levels. They are by far the most vulnerable in terms of fending off the affects of global warming.”
Calling climate change a “life and death” problem for Pacific islands, Japan is preparing to ramp up its environmental response, including increasing aid to the region to 50 billion Yen (US$527 million) over the next three years. Japan Prime Minister Taro Aso announced the aid plans, an increase of more than 10 percent over the last three years, at the closing of the Pacific Leaders Meeting (PALM) in Hokkaido Saturday. “Pacific leaders are worried about rising sea levels,” Aso said at a press conference. “Hearing concerns of Pacific island leaders was very persuasive.” “Climate change is a life and death issue,” said Aso’s spokesman Kazuo Kodama, the Director General for Press at the Ministry of Foreign Affairs said Friday during the PALM summit. “It’s about the survival of island countries. There was a strong sense of crisis by all speakers at the PALM.” Aso said Japan wants to use its “leading edge technology” to help Pacific island nations facing rising sea levels from global warming. “We hope countries know we have to act now to slow the climate change cycle and help our Earth survive,” said Niue Premier Toke Talagi, who co-chaired the PALM meeting with Aso. Japan has a moral obligation to resolve climate change issues that could wipe out many of the low-lying atoll nations in the Pacific, he said. “There is a need to bring greenhouse gas emissions down, increase recycling and support more serious environmental protection,” Kodama said.
Students doing a marine resource program last Thursday collected and killed 30 crown of thorns starfish from an oceanside reef at Laura, according to College of the Marshall Islands teacher Dean Jacobsen.

Journal 5/30/1970

Journal 5/27/1974
P1 A basis for agreement has been reached in the Long Island land negotiations at the site of the proposed new airport. The final form of the lease, reflecting minor changes in the original, will be presented to the landowners Tuesday. There were no concessions made by the government in the matter of reclaimed land and the granting of approval power to the landowners for later sub-leasing by the government. The landowners say the will see later changes through the Congress of Micronesia.
P3 Two employees of radio station WSZO left today for Hawaii to begin
P1 A former Micronesia police patrolman has assumed the position of police chief for the DUD municipal police force. He is Wedmond Langrine, who during his tour of duty on the regular TT police served in Ponape and Mariana districts as well as the Marshalls.
P1 The TT delegation that
a month-long Journalism Seminar. Lee Silk, news director, and Andrew Bilimon, translator, will join 12 other Micronesians at the seminar, according to Laurence Edwards, station manager.
P9 Principal Alkinta Kilma of Majkin Elementary School and residents of Majkin, Namu proudly announced the completion of their new three classroom school complete with office and library-storeroom this week. The school was built through the Peace Corps School Partnership Program.
P9 Sixteen members of Marshalls Teacher Education Center went to Kwajalein this week to spend three days observing at the George Seitz Elementary School. The group left Monday accompanied by staff members Grace Eckes, director, Carolyn Gring, and Nidel Lorak. The trip was financed by the Education Department and the Kwajalein Women’s Club. Trainees are: Tien Bikalej, Bunep Bikalej, Enock Jekkar, Eleanora Clanry, Jamo Moses, Hanako Term, Hilji Helkena, Ambi Jakeo, Akella Hone, Kijon Jeklin, Jarbi Lanitok, Jamomo Riklon, Beton Mite, Hilda Libokmeto, Eula Nelson and Elizabeth Heine.
attended the annual conference of the Economic Commission of Asia and the Far East returned with news and information concerning assistance available from organizations such as the Asian Development Bank. According to TT Chief Delegate Senator Amata Kabua, the ADB, in its seven years of operation “has emerged as an important source of multilateral aid” in terms of monetary aid to developing and developed countries in the region.
P4 During graduation ceremonies at Assumption Elementary School last week, Congress of Micronesia Senator Wilfred Kendall urged graduates to seek to continue education as a means of obtaining freedom. Kendall said: “A man in ignorance is not a free man. Education sets you free. An ignorant man…is like a…log floating on the sea, going wherever the wind and current take him.”

Journal 5/29/1992
P1 Ten years after Majuro doctors stumbled on a medication that “cured” victims of fish poisoning, the Marshall Islands will be the location of the world’s first scientific test of the drug mannitol. The US National Institutes of Health is funding the study that will be carried out at Majuro, Ebeye and Kwajalein hospitals under the supervision of Dr. Neal Palafox.
P3 The man who was the longest reigning speaker of the Marshalls Nitijela died Monday in Majuro after an extended illness. President Kabua and the Cabinet declared an official week of mourning, with all flags to fly at halfmast, for former Speaker Atlan Anien, who was 72.
P5 Ebeye’s current wastewater treatment plant is causing foul smelling odors and the government is seeking US funding $350,000 to replace the plant with a sewage outfall system into deep water. Several years ago, a US commissioned study reported the Ebeye plant was satisfactory and did not need any improvement. But the Marshalls government disputes this assessment.
P6 Celebration of the topping off of the new Majuro capital building was held Sunday evening amid a lodging of compliments from various local and international dignitaries. Most of the speakers delivering remarks on the occasion took note of the near tragic incident which befell the project in the early months of construction. Huge ground cracks indicated a serious subsurface problem had been undetected, and the northern wing of the building sank dangerously. As President Kabua commented in his remarks: “Some of the advice I received was in favor of tearing down the building and starting over.” He called that period “the darkest moment.” Jerry Kramer, of Pacific International Inc., the local half of the joint venture in charge of the actual construction of the new capital, explained that 43,000 feet of support piling had been driven into the crust of the atoll to afford support for the building.
P16 Majuro’s Micronesian Sales Company staff won recognition for the best overall performance in 1991. Their staff: Susan Kitalong, Danita Luke, Loomis Rilometo, Gerry Chy, Danny Muno, Relly Zuniga and Werter Olter.