Latest update September 20th, 2026 10:40 AM
Sanctions pertain “solely” to what happens in the US
…US ambassador says played no role in actions of local banks
United States Ambassador to Guyana Nicole Theriot
Kaieteur News – Though several local banks have severed ties with candidates of the We Invest in Nationhood (WIN) party, which is led by sanctioned businessman Azruddin Mohamed, the United States Ambassador to Guyana Nicole Theriot has made it clear that the local banks decisions were taken independently, without any involvement from the U.S.
Over the past few weeks, accounts belonging to WIN candidates were closed at three commercial banks: first Demerara Bank Limited (DBL), followed by the Guyana Bank for Trade and Industry (GBTI), and then Citizens Bank. Even the New Building Society (NBS) has cut ties with the candidates over their association with the sanctioned individual.
Last year, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Azruddin Mohamed and his father Nazar Mohamed, citing allegations of defrauding the Guyanese government of US$50 million in taxes through gold smuggling, as well as bribing public officials. The local banks had cited the sanction as reason the decision was made to ensure the banks comply with international financial sector rules governing relations with sanctioned individuals.
However, speaking with reporters on Wednesday, Ambassador Theriot stressed there is “absolutely no association” between the OFAC sanctions and the decisions made by local financial institutions. The ambassador explained that OFAC sanctions are targeted specifically at the U.S. and apply “solely” to what happens there.
Ambassador Theriot also noted that local banks did not engage with the U.S. Embassy before making their decisions. “The decision by the banks was entirely independent. We were not consulted, we were not asked. We have no opinion on the matter. Banks here make their own decisions,” she said.
Notably, she added that she was unsure whether there had been any correspondence between the local banks and their U.S. banking partners. On August 1, WIN called for citizens to boycott two commercial banks for cancelling the accounts of their candidates. The party said that the banks and their associated businesses are being used by the government to destabilise and demoralise the two-month-old party.
Meanwhile, the Guyana Association of Bankers Inc. (GABI) in a statement on Saturday reminded that all licensed commercial banks in Guyana operate within a framework of national laws and international standards. “Banks are guided by strict regulatory obligations, including Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) requirements, as well as global risk management practices. These standards are critical to preserving financial system integrity, protecting depositors, and ensuring continued access to international financial markets,” GABI explained.
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She should be concentrating on that 34 time vile uneducated demented convicted criminal and convicted sexual abuser together with allegations of child sex involvement that is currently the TACO president of the USA.