–but find time for other Parliamentary Committees
A PARTNERSHIP for National Unity (APNU) members represented on the Parliamentary Special Select Committee reviewing the Anti-Money Laundering and Countering the Financing of Terrorism Bill (AML/CFT) have been unable to meet for the last month.
However, several APNU members have been meeting in other Parliamentary Committees, according to records of the National Assembly.
In an invited comment yesterday, APNU Leader Brigadier (rtd.) David Granger said: “Many of the persons who are on the committees have functions to perform between now and Congress (the People’s National Congress’s annual meeting, scheduled for later this month).”
According to him, the Government has been taking “its own sweet time”, and APNU will not hurriedly complete its review of the Bill. “We will not be rushed and hurried,” Granger said.
LENGTHY PROCESS
This position has been expressed before, and on every occasion it has been rejected by the Government.
Attorney-General (AG) and Minister of Legal Affairs, Anil Nandlall, in a prior interview, stated that the AML/ CFT (Amendment) Bill is a product of extensive consultation with the Caribbean Financial Action Task Force (CFATF).
He said that CFATF issued an advisory on the need for changes since November 2011, but pointed out that, with elections in the air, work on addressing CFATF’s request was deferred until after the elections had concluded.
Nandlall noted that after elections, CFATF officials: visited Guyana and examined the local situation; met with the Government, private sector, regulatory bodies and other stakeholders to examine the legislative framework; and made their recommendations.
He added that formulating the legislation to give effect to the recommendations was another process that took time. “Each provision was sent individually to CFATF, examined by their specialist, and confirmed to have complied with the recommendations,” the AG said, “It was a very time-consuming process.”
According to the AG, the recommendations could have been made effective by legislation in a piecemeal manner, but the decision was to do this in a more comprehensive manner, particularly foreseeing challenges with passage in the piecemeal manner.
He said: “It is a big bill, but it is a comprehensive one that embraces all the recommendations…it was a long process.”
The Bill to meet CFATF’s requirements was tabled in the National Assembly in April 2013, but was referred to a Parliamentary Special Select Committee, and was eventually voted down by the combined Opposition in November 2013.
The Bill was re-tabled in December 2013, and was again referred to the Parliamentary Special Select Committee, where it has since been languishing.
A MATTER OF HOURS
The Opposition Leader contends that there is no need for lengthy delays, since the passage of the Bill can be resolved within a matter of hours.
“We want this battle over with; it can be done in 48 hours,” he told the Guyana Chronicle yesterday.
Chair of the Committee, Ms. Gail Teixeira, told the Guyana Chronicle that if this is the position of the Opposition, efforts should be made to have a meeting to ensure that Guyana can pass the Bill as soon as possible.
She maintains that while Guyana is now subjected to FATF’s review over the next four months, the country does not have four months to pass the AML/CFT (Amendment) Bill, which she maintains will help Guyana’s case during the review.
“We do not have four months (to pass this bill). For one, the National Assembly goes into recess from August 10 until October 10, so that leaves us with about a month,” the Committee Chair said.
The last Select Committee meeting was in early June, and up to press time, there had been no confirmation of a date for the next meeting.
The Financial Action Task Force (FATF), in a letter dated July 9, 2014, officially confirmed on Wednesday its decision to commence a targeted review of Guyana prior to its October 2014 plenary meeting. And the international watchdog made it clear that the purpose of this targeted review will be to examine the most significant deficiencies in Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework that pose a risk to the international financial system.
According to FATF, its review will identify steps that should be taken to address those deficiencies through the development of an action plan.
FATF’s letter said, “This review will be conducted by the International Co-operation Review Group (ICRG), Americas Regional Review Group (ARRG), co-chaired by Ms. Darlene Boileau (Canada) and Ms. Maria Fernanda Garcia-Yrigoyen Maúrtua (Peru). In our capacity as ICRG Co-Chairs, we now request your full cooperation in assisting the ARRG to conduct this work, including by providing up-to-date information on your jurisdiction related to AML and CFT issues as requested by the ARRG co-chairs.”
Guyana, according to the letter, will be given an opportunity to review the draft targeted review, and to have a face-to-face meeting with the ARRG.
At its next meeting on 20-24 October, 2014 in Paris, France, the FATF is expected to discuss the results of Guyana’s targeted review.
(By Vanessa Narine)
