Don’t play politics with Anti-Money Laundering Bill - Teixeira

Don’t play politics with Anti-Money Laundering Bill – Teixeira

Feb 06, 2014 News

After storming out of the meeting of the select committee on Monday, the Opposition boycotted the February 4, meeting.
APNU’s Carl Greenidge and Jaipaul Sharma, are the only two members of the committee dealing with the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) (Amendment) Bill, who have indicated that they are out of the country.
Nevertheless, in the interest of time, the members of the Government side proceeded to examine the new submissions that were received. The committee is slated to meet again tomorrow.

Government’s Chief Whip and Presidential Advisor on Governance, Gail Teixeira

Government’s Chief Whip and Presidential Advisor on Governance, Gail Teixeira, assured that on the part of the Administration, no effort will be spared to meet the February 13 deadline; however, this is not up to the Government alone.
There is urgent need for the Opposition to take a forthright and principled position in the interest of the nation. She was at the time speaking on programme titled ‘The Conversation’ aired on the National Communications Network (NCN)
Ransom
It is the intention of the Government to return the Bill to the National Assembly by February 10 or February 11. Teixeira said that the Opposition is yet to propose any amendments they want to see effected to the Bill.
“How can you be telling the country that the Bill needs to be strengthend and more comprehensive and you haven’t said, in the committee, what must be done…Clearly this is bullyism and holding the Government and the nation at ransom.”
The Chief Whip said that the inconsistent positions that the Opposition, particularly APNU, has taken on this issue is worrying and has left many bewildered.
Ultimatum
She recalled that around mid January, Opposition Leader, David Granger in a public statement had assured that the Bill will be passed by February 13. This news was welcomed by the Government and Prime Minister Samuel Hinds issued a statement the very next day acknowledging Granger’s position and expressing similar optimism from the Government side.
However on January 29, a letter was sent to President Donald Ramotar, while he was in Havana, Cuba, attending the Community of Latin America and Caribbean States (CELAC) Meeting of Heads.
In this letter, the APNU changed course from its previous position. APNU essentially presented the Head of State with an ultimatum, that its members will withhold their support for the AML/CFT Bill if he (the President) does not assent to the Bills which he sent back to the Parliament without his assent on the basis of their constitutionality.
The Chief Whip, who also chairs the committee that is dealing with the Bill, said that should the February deadline informed that should this deadline be missed, it is highly probable that the international body, the Financial Action Task Force (FATF) will put Guyana under a prima facie review.
This would be much more stringent in terms of the standards and requirements that have to be complied with than that of the preliminary review conducted by the Caribbean Financial Action Task Force (CFATF), the regional body.
While this is being done, Guyana will remain blacklisted, but more importantly, the banking, insurance and financial systems will be required to take protective actions against Guyana. As it stands right now, they have only been issued advisories to take precautionary measures. (GINA)