ATTORNEY-General (AG) and Minister of Legal Affairs, Mr Anil Nandlall has debunked Alliance For Change (AFC) leader, Khemraj Ramjattan’s spurious claim that he has misled the nation.
Reacting to the charge Friday during the course of a programme aired on the National CommunicationsNetwork (NCN)’s Channel 11, Minister Nandlall

said:
“I cannot be held responsible for persons being unable to comprehend what they read.”
He was at the time responding to Ramjattan’s rejection of the August 26 deadline set Guyana by the Caribbean Financial Action Task Force (CFATF). Guyana has to provide a report, inclusive of relevant documentation, to show that it has taken a firm stand against money laundering, and that it is committed to fighting terrorism.
Guyana secured an extension at the May 27 meeting in Managua, Nicaragua to be reconsidered at a meeting to be held in November in order to ensure that it complies with the recommendations made which include the passage of the bill in the National Assembly.
However, it first has to submit a report to CFATF on or before August 26, 2013, and that report will have to be circulated to all member states and examined before the November meeting.  Those are the internal procedures of the CFATF, and this was confirmed in writing by the task force.
The final step for Guyana to comply with the recommendations made by CFATF would be to pass the Anti-money Laundering and Countering the Finance of Terrorism (Amendment) Bill in the National Assembly. The Bill was tabled on April 22, 2013, but was sent to a Parliamentary Select Committee, and not approved in time for Guyana’s May 27 meeting with the CFATF.
Giving an update on the situation, Minister Nandlall said Friday that when the Select Committee resumed work recently, a decision was taken to write the CFATF, seeking to confirm Guyana’s deadline. Paul Geer of the Finance Intelligence Unit received the response from CFATF, by letter dated June 13, in which it was stated that August 26, 2013 is the deadline. This letter was distributed to all members of the Select Committee.
Still shocked at Ramjattan’s claim to the contrary, Minister Nandlall said, “…at the time Ramjattan made that statement, he had the letter, and, presumably, would have read it. I find it unfathomable that Mr. Ramjattan can accuse me of being misleading, when the very letter that informed of the deadline date is the very letter he had in his hand when he was making the accusation.”
He further noted that the Kaieteur News had also telephoned CFATF, and was informed by Roger Hernandez, Financial Advisor to CFATF, who penned the letter, that this was true. Hernandez confirmed that the deadline for Guyana’s submissions of compliance, which includes the passage of the legislation into Law, is August 26.
Optimism about Guyana’s making the deadline now rests on whether or not the opposition will support the passage of the Bill, the AG observed. He reiterated that Government retains its absolute commitment that the Bill should be passed, as “we are doing every conceivable thing within our limits to ensure we meet the deadline, but our efforts will not bear fruit unless we receive the support of the opposition,” he stated.
He stressed the importance of the Select Committee remaking a time schedule to enable this. The AG also noted that since the AFC has indicated that they will not support the Bill nor accelerate their efforts, Government now has to rely on the A Partnership for National Unity (APNU) for support.

Consequences
If Guyana does not pass the amendments to its legislation within the given, then Guyana as a country shall be placed upon a list with other delinquent countries, and would be visited with a regime of sanctions which will include restrictions in the manner that business is conducted internationally especially involving wire transfers of funds. Once placed on that list, it takes an average of approximately seven years to come off that list during which time Guyana would have had to undergo a host of stringent scrutiny of the procedures used when transacting business across the borders.
The Financial Action Task Force (FATF) is a global watchdog against financial crimes, and examines how Guyana and other countries in the Caribbean are meeting international obligations.
The Organisation of Economic Cooperation and Development (OECD) is demanding that Guyana tightens its anti-money laundering Act by the stipulated deadline, so as to comply with the recommendation of the Caribbean Financial Action Task Force, a move which the ruling administration is keen to implement.
Government is hoping that the legislation is approved before the Parliamentary recess which is to take place in mid-August for nearly a month.