Latest update September 20th, 2026 10:40 AM
Anti-Money laundering legislation…Bill should not be used as a bargaining chip
– Finance Minister
Whilst the government and Opposition still remain gridlocked over the Anti Money Laundering and Countering the Financing of Terrorism (AML/CFT) Bill, Minister of Finance, Dr. Ashni Singh has opined that the Bill is of such importance, that it should not be made a “subject of political bartering.”
“When the AML Bill was referred to the Parliamentary Select Committee in May, they had ample opportunity to make any specific recommendations that they may have and in the absence of them doing this, anything else constitutes reckless behaviour. Another delay places Guyana in sanctions, and by extension threatens our financial existence…any sensible politician or parliamentarian would take a stance and not allow this to happen.”
Finance Minister, Dr. Ashni Singh
Clive Thomas, a columnist and renowned economist, recently reported that the government is crying wolf with regard to the Bill, but in response, Dr. Singh said, “I don’t know what his source of information is, but it is not the government alone that is calling for the Bill to be passed. So I guess everyone is crying wolf except for him and perhaps the Alliance For Change. But the fact remains that the international community has said publicly in a written statement, following their May meeting in Managua, Nicaragua, that this Bill has to be passed or else Guyana runs the risk of sanctions.”
“The private sector is already feeling the effects of the delays, including the banks and the insurance companies. They are finding that international transactions are already difficult to process.”
When the Finance Minister was told about the Opposition’s belief that President Donald Ramotar is picking and choosing which Bills he wants to assent to, Dr. Singh said, “ First they said listen to the stakeholders and now that the Government listens it is a problem. In fact, the Government has to listen to the call made by the business sector, because the AML is a matter that affects the entire national interest.”
The Minister further reinforced his position as he emphasized that the Bill is of great importance and that the Opposition should not be using it as a bargaining chip.
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