Press Release – Failure to Pass Anti-Money laundering Legislation in Guyana

JUNE 2, 2014

PRESS RELEASE

FAILURE TO PASS ANTI-MONEY LAUNDERING LEGISLATION IN GUYANA

The Georgetown Chamber of Commerce and Industry is extremely concerned and disappointed with the news that Guyana has been referred to the international Financial Action Task Force (FATF) for further action because our continuing  failure to pass the required Anti-Money Laundering Legislation.

This continuing inability of our representatives in Parliament to reach common ground on critical legislation does not augur well for our  financial stability, long term growth and  development and most importantly, our image as a nation where financial transactions can be conducted in  accordance with the required international standards.

The Chamber wishes to urge all parties to immediately resume negotiations with a commitment to reach consensus for the benefit of all of its constituents.   The nation can ill afford this state of affairs.