Despite calls to the contrary at consultation…
Stakeholders patiently awaiting their turn yesterday at the entrance of the Guyana International Conference Centre to sign a petition for the timely passage of the AMLCFT Bill (Photo by Adrian Narine)
Stakeholders patiently awaiting their turn yesterday at the entrance of the Guyana International Conference Centre to sign a petition for the timely passage of the AMLCFT Bill (Photo by Adrian Narine)

President Ramotar remains optimistic that the opposition will come around
–and pass the AML/CFT Bill

THE ongoing deadlock over the passage of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Bill, can only be broken by bringing the decision to the “ultimate” Parliament, the people of Guyana, through a referendum or general elections.


This was the ultimatum given President Donald Ramotar by stakeholders gathered at the Guyana International Conference Centre (GICC) for a consultation yesterday.

‘Being an optimist, I hope the call of people from all walks of life, as well as the people of the Caribbean who are worried about the impacts, would be heard’–President Donald Ramotar

However, the Head of State maintained his optimism that the combined Opposition would yield to reason and move forward with the passage of the AML/CFT Bill, in order for Guyana to avoid becoming internationally blacklisted.
“Being an optimist, I hope the call of people from all walks of life, as well as the people of the Caribbean who are worried about the impacts, would be heard,” Mr. Ramotar said.
The nation was already blacklisted regionally, by the Caribbean Financial Action Task Force (CFATF), last November when it issued a warning to its member States to take the necessary action to address the risks emanating from Guyana, after the country missed the November deadline for the passage of the legislation.
Guyana also failed to meet the February 28 deadline this year, when it was due to submit a report to the regional body on the status of the enactment the Bill. Since it was not passed in the National Assembly, the country could only substantially report on the advances made with respect to the non-legislative recommendations made by CFATF.

International blacklisting
The failure to pass the Bill is likely to result in international blacklisting when the Financial Action Task Force (FATF) considers CFATF’s report at its meeting scheduled for May.
According to the President, the Bill which CFATF declared compliant, on which there is unanimous agreement by the political parties, is ready to be brought to Parliament, and in consideration of the many risks, this should be the way forward.
Among the hundreds gathered for the engagement with the Head of State on what is consensually seen as a critically important issue, was one contributor who noted that the voices of the citizens are being ignored, hence they are being removed from a critical decision.
That man said the decision should come from the “ultimate Parliament” through a referendum so the risks of further blacklisting be avoided.
Another contributor declared that the facts are undisputed and called for the Bill’s passage or a move to general elections.
While the Head of State did not address those recommendations directly, he reiterated that he remained optimistic that reason will prevail.
One other individual in the gathering, who called himself ‘Ghetto Youth from Albouystown’ pointed out that the back and forth between the political parties are amounting to no change and the three should sit down at a public forum, possibly broadcast on local media, to come to a resolution that will take Guyana forward. “People need to move on with their life,” he said.
The President responded that this possibility was easier said than done. “I wish it was that simple,” he asserted.
Ramotar explained that both he and his team, working with the Parliamentary Special Select Committee on the issue, are ready to move to a live conversation on the ongoing stalemate, but pointed out that, before the matter even moves to that stage, the prevailing sentiment, considering the problems ahead, should be patriotism.
A Private Sector stakeholder added that the challenge in the continuing optimism of the President is that the impacts of blacklisting are already being felt.
According to that speaker, there seems to be some misconception on when the impacts will be felt, with much being said referencing future impacts.“We are already feeling it,” he acknowledged.
That stakeholder cited several examples, including reservations by foreign investors to do business with Guyana; delays with money transfers, which get “stuck” at intermediary financial institutions, usually United States registered organisations and the delays with transactions usually taking three days, which now take three weeks.
He reiterated that the “procrastination” with the passage of the Bill will not “create” impacts on the financial sector, rather those areas of impact are already being felt.
Another contributor said the ongoing blame game must stop and charged that all the involved stakeholders are to be blamed for mismanagement.
This notion was rejected by the President, who stated that, in all fairness, he cannot accept the comment.
He declared that the Government has done all it can to prevent the problematic future that would be the result if Guyana is further blacklisted.
Asked by a woman in the audience if the Opposition was fully aware of the consequences, the Head of State responded in the affirmative.
He highlighted the fact that the Opposition is aware and even given the benefit of the doubt, the CFATF Advisor, Roger Hernandez, when he visited Guyana, made the reality of the situation at hand pellucid.
A teacher from the West Demerara Secondary School questioned the President on what can be done at the level of the Education Sector to be informed and offered their support.
This was welcomed by Ramotar, who said that arrangements can be made between the Ministries of Finance and Education for students to be made aware of the situation at hand.
Persons with disabilities had a representative also in the audience, who questioned the backing for this vulnerable group, considering challenges with access to finance and the Head of State gave his assurance.
Questions were also posed on the 2008 Principal Act itself, which one woman described as “draconian”.
She posited that, when it came to enforcement, the Director of Public Prosecutions (DPP) stated that only one case was brought but not proceeded with because of the lack of supporting evidence.
She asked what exactly would be changed by the AML/CFT Bill, if it is passed and Government is serious about changing the negative image of the nation.
Ramotar explained that the Act’s “draconian” nature is what came out of a comprehensive process that looked at addressing a particular type of crime.
“It is a tough law given the nature of what it is looking to combat,” he offered.
As it relates to the AML/CFT Bill before the Select Committee, the President said the weak areas, in terms of enforcement, are what the Bill addresses.
He said the Bill gives the system “legal muscle” to go after offenders.
At the end of the consultations yesterday, those in attendance signed a petition that calls for the passage of the critical piece of legislation by Members of Parliament (MPs) in the National Assembly.

(By Vanessa Narine)

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