WITH the parliamentary Opposition MPs deliberately dragging their feet on the passage of the amendments to the Anti-Money Laundering and Countering and Financing of Terrorism (AMLCFT) Bill, government is left with no choice but to seek an extension to the initial May 27 deadline.
If this extension is granted, the government will still be faced with the

herculean task of negotiating with the one-seat majority Opposition in an effort to successfully conclude this matter and in so doing, save the country from serious international sanctions.
Attorney General and Minister of Legal Affairs, Anil Nandlall will be heading Guyana’s delegation at the meeting of the Caribbean Action Task Force on May 27 in Nicaragua. At this forum, he will be making appeals for an extension to fulfil the stipulated requirements needed to ensure Guyana’s financial and legislative compliance with international regulations.
On May 7, when the Bill was slated for its second and third readings, the Opposition insisted that it be referred to a special select committee, even though Minister Nandlall explained that while this is usually a worthwhile resort, the urgency of this situation warranted a more expeditious approach. However, this request was not heeded.
At the same sitting, the select committee to review the Bill was constituted. The members included Government’s Chief Whip Gail Teixeira, the AG, and Ministers Clement Rohee and Dr. Ashni Singh; while the Opposition’s representatives included AFC’s Leader Khemraj Ramjattan, and APNU MPs Deborah Backer, Carl Greenidge, Joseph Harmon and Basil Williams.
That committee held four meetings during which the Opposition made several requests, all of which were agreed to by the government. The latter, on the other hand, made one request that the committee meet on a daily basis to complete its work so that the bill’s passage can be expedited. This request was rejected.
Meanwhile, even the appeal made by President Donald Ramotar to the National Assembly to prioritise the passage of the bill has gone unheeded by the Opposition.
The AMLCFT Bill will allow the Financial Intelligence Unit (FIU) to investigate and prosecute individuals and businesses it suspects are laundering money. It also imposes a fine for money laundering offences, which will range from $1M to $5M.
Additionally, the bill freezes funds of terrorists and/or terrorist organisations and will unmask illegal financing of political parties.
The amendments contained in the AMLCFT Bill reflect the recommendations that were made by the Caribbean Financial Action Task Force (CFATF). Failure to comply with these recommendations will see Guyana placed on a list of jurisdictions deemed to be ‘non-cooperating’’ and “insufficiently compliant’’.
This means that member states will be called upon to apply counter measures when dealing with that jurisdiction.
CFATF’s role is to help promote national policy to combat the global scourge and has proposed recommendations to prevent terrorist threats from compromising financial institutions in Caribbean nations.
On May 7, Minister Nandlall had explained to the National Assembly that Guyana’s inability to meet this obligation could also see prohibitory sanctions being imposed which would preclude Guyana from participating in a host of activities to which it is accustomed.