The Central Bank has renewed the money exchange cambio licence for the Galbaransingh-owned Millennium Finance and Leasing Company Ltd.

The company, chaired by fraud-accused businessman Ishwar Galbaransingh and managed by his son, Syam Galbaransingh, operates at the Piarco International Airport as a money-exchange bureau.

The Sunday Express was told that despite the fact that there are money-laundering charges against Ishwar Galbaransingh, the licence was granted because he has not been convicted in any of the country's courts and has not failed the "fit and proper" test as a director of the company.

Further, the application was made by his son Syam who manages the business.

The cambio has been in operation since the establishment of the airport in 2001.

Galbaransingh, through his company Northern Construction, was contracted under the United National Congress (UNC) government to build the airport terminal, for which he now faces the courts on fraud and money laundering charges.

He operates two businesses at the airport—Singh's Auto Rentals and the cambio, of which he is chairman.

In September last year, he applied to the country's courts to be declared innocent under Section 34 of the Administration of Justice (Indictable Proceedings) Act, which was proclaimed earlier than the rest of the Act on August 30, 2012.

Section 34 allowed people in the country's courts whose matters had dragged on for over ten years to apply to a judge to be declared innocent. Days after the act was proclaimed it was repealed.

Galbaransingh's case to be declared innocent is now before the courts.

Other entities approved by the Central Bank to exchange currency are Classic Tours and Travel, Eastern Credit Union, Firstline Securities Ltd, Global Exchange Trinidad & Tobago Ltd, Grace Kennedy (Trinidad & Tobago) Ltd and the Unit Trust Corporation.

Galbaransingh has also applied to the Airports Authority of Trinidad and Tobago (AATT) for a permanent pass which will allow him unrestricted access to Piarco International Airport.