THE Guyana Manufacturing & Services Association (GMSA) Ltd. is seriously concerned about the dithering in the National Assembly over the very critical piece of legislation, the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill.

As is now common knowledge, the implications for missing the deadline have extremely dire consequences that will certainly stymie the growth of the economy as a whole, and will interfere with the well-being of our citizens at a personal level.
A GMSA statement yesterday said whatever the circumstances that have stood in the way of the passage of the two previous pieces of legislation; they cannot be allowed to encroach on the anti-money laundering amendment.  Over 80 percent of businesses in Guyana, both in the public and private sectors are linked to international institutions. By now most citizens are aware that if we fail to meet the deadline for passage of the bill, the gains that our local entrepreneurs have fought for and won in the international marketplace could quickly be eroded.
Guyana’s being blacklisted in the global financial community just cannot be an option, according to the GMSA.
“However, while we insist that every possible effort must be made to prove that this nation is really willing to join the global fight against terrorism and money laundering, we believe that all parties must take cognizance of the issues and concerns surrounding other contentious pieces of legislation, as well as the need to re-establish the national Integrity and Procurement Commissions.
“There has to be a rapprochement among all the representative parties for the entire process to work for the good of Guyana.
We therefore entreat the members of the National Assembly to work towards completing the necessary assessments and voting the amendments into law within the stipulated timeframe. We also expect that previous promises to establish those key oversight Commissions would be honoured.
“The GMSA is looking forward to the various parties in the National Assembly finding agreement on these particular issues as soon as possible.  This would definitely redound to the greater good of every Guyanese citizen,” the GMSA concluded.