Finance & Development Company (FDC) Celebrates 40 Years of Transformative Impact
St. John’s, Antigua – December 19, 2024……..Finance and Development Company (FDC), a proud indigenous financial institution rooted in the Caribbean, celebrated its 40th Anniversary with an auspicious gala on Saturday, December 14th at Sandals Grande Antigua. The event highlighted FDC’s unwavering commitment to providing accessible, affordable, and transformative financing solutions to those who need them most—empowering small businesses, entrepreneurs, and individuals over four remarkable decades.
Founded in 1983 as a joint venture by Sir Ramez Hadeed, Aziz Hadeed, and Riad Hadeed, FDC was officially registered on December 19, 1984. At a time when access to financing felt out of reach for many, FDC emerged as a beacon of hope, offering affordable, hassle-free loans to the unbanked, self-employed, and small businesses. Today, 40 years later, FDC stands as a pillar of economic growth and entrepreneurial development in Antigua and Barbuda.
The prestigious event brought together a distinguished audience, including His Excellency Sir Rodney Williams, Governor General of Antigua and Barbuda; Sir Steadroy Benjamin, Attorney General; members of both the Upper and Lower Houses of Parliament; diplomats; business professionals; local and regional banking professionals and financial leaders. Among the notable attendees was Governor of the Eastern Caribbean Central Bank (ECCB), Mr. Timothy Antoine, who delivered powerful remarks on FDC’s enduring legacy.
Governor Antoine commended FDC as a model of collaboration, hard work, and innovation, describing it as a cornerstone of regional financial success. “The legacy of FDC is profound,” Governor Antoine noted. “It stands as a testament to the vision and determination of its founders and their unwavering belief in the transformative power of accessible financing.”
Governor Antoine further remarked:
“It is with great pride that I recognize FDC as an institution crafted by the hands of Antiguans, for Antiguans—and that is worthy of celebration. Forty years ago, Sir Ramez, his brother Aziz, and the family had a choice. They could have joined the lamentation about the exclusion of Antiguans and Barbudans from the financial systems, or they could have chosen to light a candle—by increasing access through financial inclusion and empowerment. What did they do? They lit that candle, and FDC was born. The rest is history.
When we think about what they did, we must be inspired. And that is one of the reasons I wanted to be here. I recognize the importance of this occasion, not only in its symbolism but also in its substance. This is a very important achievement.”
Aziz Hadeed, one of FDC’s founding directors, set the tone for the evening with a nostalgic reflection on the institution’s history, growth, and resilience. His remarks paid heartfelt tribute to the late Sir Ramez Hadeed, KGCN, whose contributions to the financial and diplomatic sectors continue to resonate deeply within Antigua and Barbuda.
A moving tribute to Sir Ramez followed, celebrating his life, leadership, and the indelible mark he left on the company and the nation.
Francis Hadeed, Director and Acting Chairman of the Hadeed Group of Companies, shared FDC’s vision for the future. “Our vision is one of innovation, collaboration, and regional leadership,” he emphasized. “The establishment of E Finance and Development Ltd. in Trinidad and Tobago, along with partnerships in Jamaica and Barbados, signifies the beginning of our regional expansion. With an asset base of TT $300 million, E Finance will replicate FDC’s model across the Eastern Caribbean, providing affordable solutions and driving regional economic opportunities.”
Mr. Hadeed further outlined FDC’s strategy to collaborate with governments, central banks, and key stakeholders to build sustainable financial ecosystems that fuel economic growth and stability throughout the region. “FDC is not just building a financial institution; we are building a legacy,” Director Hadeed remarked. “A legacy of empowerment, innovation, and transformation that will define the next 40 years and beyond.”
Mr. Jason Weste, Managing Director of FDC and board member of E Finance in Trinidad and Tobago, underscored the company’s commitment to innovation and recognized the vital contributions of FDC’s employees and partners. During the gala, several long-serving employees and partners were honoured with awards for over 25 years of dedicated service.
The celebration of FDC’s 40th Anniversary reaffirmed the institution’s dedication to its core principles of good banking, sustainable development, and community empowerment.
Here’s to 40 years of success—and to an even brighter future ahead!
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Congratulations!
40 YEAR ALREDY!!!
Congrats FRANCIS. WE LOVE YOU!
The face of money!!!!
A very down to earth and accessible wealthy sucessful ANTIGUAN family. I extend most hearty congratulations to you. May your insttution contine to grow from strength to strengh.
Here’s to four decades of innovation, collaboration, and dedication! FDC’s legacy of financial empowerment is a shining example for the entire region
What an incredible milestone!
Congratulations to the owners and founders of Finance and Development Company (FDC) on 40 remarkable years of transformative impact! On behalf of Antigua Newsroom (ANR), we commend your vision, resilience, and unwavering commitment to empowering small businesses, entrepreneurs, and individuals across Antigua and Barbuda. Your legacy of financial inclusion and innovation stands as a beacon of hope and progress in our region. Here’s to your continued success as you build on this extraordinary milestone and chart an even brighter future. Well done!”