Insulza again urges Guyana to pass anti-money laundering legislation

Secretary General of the Organisation of American States (OAS) José Miguel Insulza is yet again calling on Guyana’s Parliament to get the AML/CFT (Amendment) Bill passed.

The call was made via a press release posted on the organisation’s website on May 2. The release said Insulza noted that the legislation has been under consideration for several months, and that “passage of this Act is crucial to bring the country up to standard on these matters.”

Insulza also noted that several of Guyana’s sister Caricom countries have successfully passed the legislation to become compliant with Caribbean Financial Action Task Force (CFATF) recommendations. CFATF is the regional regulatory body which seeks to ensure the enactment of strong laws against money laundering and the financing of terrorism.

José Miguel Insulza
José Miguel Insulza

Guyana has missed several deadlines, the latest of which was a deadline last November, by which it was supposed to pass the bill. CFATF members went as far as to coming to Guyana recently to personally warn local politicians of the ramifications of not passing the legislation by a CFATF plenary on May 29.

Members of both the opposition parties and government have shared with the public the grim picture painted by the CFATF Officials. Caricom has also called for the timely passage of the legislation, noting that Guyana’s failure to be found compliant during the upcoming plenary can have negative repercussions for Guyana and those countries tied to it.

Insulza first called for the legislation to be passed back in February, a few days before the Financial Action Task Force (FATF) was slated to hold its plenary; he is once again reaching out to Guyana.

He has even offered Guyana the assistance of the OAS’s Inter-American Drug Abuse Control Commission (CICAD), with whose recommendations, he said, Guyana’s draft law is consistent. The same offer was made in February.

As has been stated though, the issues preventing the passing of the bill are not technical, but political. A Partnership for National Unity (APNU) has said that its support for the bill will follow the president’s agreement to a framework to sign bills he has refused to give his assent to. The Alliance for Change (AFC) on the other hand, require the setting up of the Public Procure-ment Commission (PPC).

Government only needs one of the opposition parties to vote with it to get the bill passed, but the AFC says it wants government to favourably consider APNU’s demands, in addition to its own. However, President Donald Ramotar and Attorney General Anil Nandlall have said that the bills in question were refused because of their unconstitutional nature, and this has not changed.

Government has also said it will only support the setting up of the PPC if Cabinet is allowed to maintain its no-objection powers in the procurement process. The AFC as well as APNU refused to support this request.

Meantime, the select committee charged with considering the bill has completed its scrutiny of the amendments proposed by APNU, and Chief Parliamentary Counsel Cecil Dhurjon is currently working to make the changes that were effected during the last meeting. During its next meeting the committee will move to consider the AG’s counterproposal to the opposition’s amendments.

A date has not yet been set for the committee’s next meeting.

 

More in Local News

default placeholder

Zouks beat Amazon Warriors by nine wickets

GROS ISLET, St Lucia,  CMC – St Lucia Zouks defeated Guyana Amazon Warriors by nine wickets in the 23rd game of the Caribbean Premier League at the Darren Sammy National Stadium here today.

Off-spinner Ravi Ashwin picked up seven for 83 to wreck the West Indies innings. (Photo courtesy WICB Media)

Windies suffer innings defeat against India after batting flops again

NORTH SOUND, Antigua,  CMC – West Indies’ batting collapsed for the second time in as many days as India crushed them by an innings and 92 runs inside four days in the opening Test here today, to take a 1-0 lead in the four-match series.

Jaikarran Chandradeo

Two more held as cops look for motive in Corentyne triple murder

Police yesterday detained two more persons as they continued to try to unravel the motive behind the gruesome shooting to death of two men and a teenage boy, whose bodies were discovered at Kokerite Savannah, Mibicuri Creek, on Friday.

These children enjoyed being pushed home by a cousin

Riverstown

Riverstown, a village on the Essequibo Coast, is pressed between Pomona and Airy Hall. Once you cross the railway-like bridge over a black water creek, you’re in Riverstown, where there are more than 700 residents.

Raphael Trotman

SARU operating legally despite absence of legislation

Minister of Natural Resources, Raphael Trotman said on Thursday that the State Assets Recovery Unit (SARU) is operating legally and despite its inability to prosecute persons, it is currently doing investigative work which is part of its mandate.

Dead: Orin Morris

Sophia stevedore killed in freak accident at wharf

The body of a stevedore attached to the John Fernandes Limited, Water Street wharf was retrieved from the Demerara River on Thursday evening, more than a day after he was involved in a freak accident.

Comments

About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.



Stay updated! Follow Stabroek News on Facebook or Twitter.

Get the day's headlines from SN in your inbox every morning: