Mrs Ruth Matagi Faatili gets another term as President of the Development Bank of American Samoa.
Senators approved her by unanimous vote this morning following a relatively smooth confirmation hearing chaired by Senator Nuanuaolefeagaiga Saoluaga Nua, who also happens to be the chairman of the Board of the Development Bank of American Samoa.
Senators didn’t have any doubts about Matagi Faatili’s credentials and experience for the job she has held for the last four years.
The freezing of interest on DBAS loans for certain borrowers with delinquent loans featured in the questions that the DBAS president was asked.
Matagi Faatili said there was only one year that the interest on DBAS loans was frozen and this was in 2010.
Questions were asked about loans that were written off.
The DBAS president said since she became bank president no loans have been written off.
She was also asked about delinquent loans.
From a portfolio of more than 750 loans, Matagi Faatili said quite a few are delinquent but she did not quote a percentage.
Only the Senate confirms the DBAS president.
Also confirmed by the Senate this morning is Motusa Tuileama Nua as Director of Health .
