Using its one-seat majority, the government early Friday morning passed the sweeping Insurance Bill 2016 which fortifies a regulatory role for the Bank of Guyana and seeks to prevent a CLICO-type meltdown in the sector here.
While agreeing in the main with the bill, the opposition PPP/C wanted it sent to a Special Select Committee for further deliberations but the APNU+AFC government was not in favour of this.
Former Attorney General Anil Nandlall argued for more consultations and questioned whether the central bank is properly equipped to take up the responsibilities that it is now being tasked with. However, Minister of Finance Winston Jordan, who
