GEORGETOWN: Government will continue to work with all stakeholders, the private sector and significantly the international community to make the country ready and to avoid blacklisting.
“That is all we can do as a Government,” Attorney General and Legal Affairs Minister Anil Nandlall said.
The Attorney General recently represented Guyana at the Paris meeting of the Financial Action Task Force (FATF) where Guyana’s financial status was examined.
After putting forward Guyana’s case and its political peculiarities, the decision was taken to grant an extension to Guyana for Government to get itself in compliance with the regulations of the international financial body.
The Caribbean Development Bank (CDB), the Caribbean Bankers Association and many other international and regional bodies, along with the local private sector members have called on Guyana to pass the outstanding Bill, and become compliant in the interest of trade in the region.
Minister Nandlall explained that “many are calling for the Bill to be passed; the only persons who don’t seem interested in passing the Bill are the 33 members who sit on the other side of the Parliament”.
Despite these pleas and several interventions by the groups mentioned, the Opposition members have refused to support the internationally accepted legislation.
“In Guyana, we have a unique situation where the Government is prepared to implement the legislation, is prepared to implement the measures, but Parliament is unprepared,” he said.
The Attorney General, under President Ramotar’s directive has implemented regulations, guidelines and ministerial directives as he is empowered to do under the Principal Act; however, these measures cannot be enforced as they do not have the force of law.
In May, Guyana was referred to the Americas Regional Review Group (ARRG) to be subjected to a targeted review. Together, the AARG and the Government of Guyana worked out an action plan for the country to rectify the technical deficiencies that currently exist in its existing anti-money laundering legislation.
