Georgetown: The Opposition members on the parliamentary committee to which the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill was referred are yet to respond to an invitation sent by the committee’s chairperson for the convening of a meeting immediately upon the resumption of the new parliamentary session on October 10.
President Donald Ramotar at a recent press conference expressed concerns with the Opposition’s continued stymieing tactic even in the face of a looming targeted review to which the country has been subjected by the Financial Action Task Force (FATF).
After the review is completed, Guyana will again have to appear before the international watchdog body in Paris, France by year-end.
“The Opposition is continuing with their determination to put the people of our country in harm’s way and to damage the welfare of our people…they seem very determined to get the country blacklisted. This is a very unpatriotic position to take,” the President lamented.
Notwithstanding the impasse, the Government has moved to put in place all the measures that do not require legislation. In this regard, guidelines have been issued and regulations are being developed to address these administrative matters.
“We have developed a work plan taking into account the predictable obstructionist role of the Parliament…they talk about joint governance and they can’t agree to pass the Anti-Money Laundering Bill,” President Ramotar stated.
Earlier this month, a $63.1M contract was awarded for the construction and the operationalising of the headquarters of the Special Organised Crime Unit (SOCU). This body will serve as the operational arm of the Financial Intelligence Unit (FIU).
President Ramotar expressed his Government’s appreciation to the British, Canadian and United States Governments for the support received in the establishment of this critical institution that will go a long way to keep Guyana in compliance with international standards, particularly which its financial sector is concerned.
“We are working hard to stave off blacklisting and saving our people from unnecessary hardships,” the President said.
The amendments outlined in the AMLCFT Bill came as a result of recommendations from the Caribbean Financial Action Task Force (CFATF), which has already issued an adverse statement on Guyana as a result of the Opposition’s unwillingness to pass this important legislation.
