Latest update December 19th, 2024 3:22 AM
Caricom Heads fear non-passage of anti-money laundering Bill
Three prominent leaders of the Caribbean Community (Caricom) want to see Guyana pass the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Bill. This Bill has been languishing in the parliamentary select committee, primarily to accommodate amendments by the parliamentary opposition.
While the Alliance For Change linked its support for the Bill to the establishment of the Public Procurement Commission, A Partnership for National Unity insisted that the Bill as passed in 2009 lacked teeth 
and needed strengthening. To this end the coalition submitted its recommendations to the parliamentary special select committee for inclusion into the Bill.
But as Junior Finance Minister Juan Edghill told a press conference he shared with President Donald Ramotar a fortnight ago, all the parliamentary political parties were happy with the original Bill that had been put to the National Assembly.
However, they declined to pass that Bill and concentrate on the amendments later, and this, despite an oral and written promise from President Donald Ramotar.
Three deadlines passed and the National Assembly failed to pass the piece of legislation largely because of objections by the opposition. After Guyana’s failure to meet the second deadline last November, the Caribbean Financial Action Task Force placed Guyana on a blacklist.
Recently, at the Caricom Inter-Sessional meeting in St Kitts and Nevis, the heads saw Guyana’s delay in passing the Bill as a threat to the entire region. Since then a number of heads have taken to writing to President Ramotar.
Prime Minister and Finance Minister, Kenny D. Anthony, who is also responsible for his country’s Economic Affairs, Planning and Social Security, wrote, “I sympathise with your frustrations over the refusal of the Opposition in the Parliament of Guyana to support the amendments to your extant Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act, 2009.
“This is exceedingly unfortunate as the damage to the reputation of Guyana could be costly. I do hope better prevails and a swift solution is found.
“Mr. President, I wish to assure you of the support of Government of Saint Lucia in your effort to secure the passage of the amending Bill.”
D. Orlando Smith, OBE, Premier of the Virgin Islands, wrote, “We recognize Guyana’s pivotal role in bringing about regional AML/CFT compliance, and indeed your effort in seeking to strengthen your existing legislation of the Anti-Money laundering and Countering the Financing of Terrorism (AMLCFT) Act 2009 is to be commended.
“The Virgin Islands supports your ongoing efforts to bring about the enactment of key legislative reforms. In the context, we will at CFATF level and especially at the ICRG level, endeavor to encourage and emphasize the need for expedited reform and the importance of national unity and cohesiveness in order to achieve this.
“Please accept my well wishes for your success in this very critical process going forward.”
And there was the missive from Barbados Prime Minister Freundel J. Stuart. “I had hoped that the statement issued by the CARICOM Bureau last November would have made a positive impact on this challenging situation, but it clearly has not done so.
“Without any doubt this situation and the threatened action by CFATF will affect Guyana and the entire Caribbean region, and will negatively impact the well-being of our people.
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