THE Ministry of Tourism, Industry and Commerce says it views with consternation, yesterday’s “ominous announcement” by the Alliance For Change (AFC) that the party will no longer support the Anti-Money Laundering and Countering the Financing of Terrorism Amendment Bill.

The ministry noted that, as the policy agency for development of tourism; growth of industry; protecting and advancing the legitimate interests of the private sector, inclusive of small businesses; and the protection of consumers, it is alarmed that the AFC would recklessly hold this country to ransom by linking such non-support to an ultimatum to President Donald Ramotar in the interest of scoring cheap political points.
The ministry unequivocally endorses the statement of Attorney General (AG) and Legal Affairs Minister Anil Nandlall that the amendment to the Anti-Money Laundering and Financing of Terrorism Act is about Guyana’s national interest and this should supersede political interest, and reiterates the call for the political Opposition to put aside their political interests and think nationally and patriotically.
The AFC’s threat is a stinging disregard for the spirit of Caribbean integration and callous contempt for the work of professionals associated with the Caribbean Financial Action Task Force on anti-money laundering from 29 countries. The ministry is also calling on the AFC to “let good sense prevail by halting the slippery slope into an abyss of business upheaval that the party is attempting to let this country slide towards”.
It said the damaging sanctions that will visit Guyana include restrictions in the manner that we do business internationally especially involving wire transfers of funds. Once placed on that list, it takes an average of approximately seven years to come off, during which time this country would have had to undergo a host of stringent scrutiny of procedures used when transacting business across the borders.
The Ministry of Tourism, Industry and Commerce said its stakeholders applaud the Government of Guyana for its keenness to implement The Organisation of Economic Cooperation and Development (OECD) demand that Guyana tightens its anti-money laundering Act by the end of the month, so as to comply with the recommendation of the Caribbean Financial Action Task Force.