FINANCE Minister, Dr. Ashni Singh, is calling on the Opposition to place the integrity of Guyana’s financial system above partisan politics by ensuring the passage of the Anti-Money Laundering and Countering of Financing of Terrorism (Amendment) Bill. The Government of Guyana has made exhaustive efforts to involve and accommodate the Opposition, by way of a number attempts to meet as frequently as possible at the level of the Select Committee of the National Assembly to discuss the Bill at reference. Government has thus far offered to meet with the Opposition in the Committee on no less than two occasions, but those efforts have proven futile. Another meeting is scheduled for tomorrow.

Despite the foregoing setbacks, Dr Singh says the Government is committed to working at every turn for the people of Guyana, and for as long as it takes necessary to get the amendments to this Bill passed.
The passage of the Bill at hand is important to the economic sustainability of Guyana, as it will demonstrate to international banks and lending agencies that Guyana’s financial system is sound, in terms of credibility, stability, and accountability.
The Private Sector Commission (PSC)’s recent call for support of the Bill, by way of a full-page advertisement Friday, echoes the concerns raised by Government regarding the impact of Guyana’s economy, should these vital pieces of legislation be delayed further; non passage of the Bill will delay business transactions and drive the prices of commodities and services upward.
Noting that the consequences of such a delay will be felt by the common man, Dr Singh said a typical example of those consequences of which he speaks is in the area of remittances, since financial institutions will be subjected to intensified scrutiny and increased penalty fees for operating in a country deemed non-compliant; needless to say, he said, those increased fees will be incurred by the consumer.
Given the risk to Guyana’s economy, he said, Government is once again calling on the Opposition to be responsible in the execution of its duties, and to desist from the continued attempts to extract political concessions by holding these vital amendments and the nation to ransom.