Barticians not in favour of APNU’s proposal for AML/CFT Bill
During the final town hall meeting on the Anti Money Laundering and Countering the Financing of Terrorism (AMLCFT) Amendment Bill, residents of Bartica, Region Seven expressed strong sentiments against the recent proposals made by the A Partnership For National Unity (APNU).
At the meeting on Friday at the St John the Baptist School, Minister within the Ministry of Finance, Juan Edghill and Minister of Legal Affairs provided Barticians with critical details of the bill.
Minister Edghill who sought to bring the mining community up to date with the status of the bill explained that the Select Committee is currently working towards yet another deadline in keeping with requirements of the Caribbean Financial Action Task Force (CFATF).
Minister in the Ministry of Finance, Juan Edghill (standing)
during his presentation at the town hall meeting in Bartica.
Seated at left are Minister of Legal Affairs, Anil Nandlall
and at right, Region Seven Chairman Gordon Bradford.
“Because of our lobbying, we have earned ourselves some more time, and we are slated for a review in May,” he said, “but the fact of the matter is, in order for us to be reviewed we have to make a submission on February 28 indicating to the Financial Action Task Force what steps we have taken to correct those deficiencies in the Bill,” Minister Edghill noted.
The Minister added that a commitment has been made to the financial body and it is expected, that the Government would make available in that report an assented copy of the bill.
However, id the bill is not passed, “The first thing that will happen is that the CFATF will put out an advisory saying that we are not a country that has sufficient legislation to fight money laundering and this will cause banks in other countries that have legislation to start looking with extra care when dealing with businesses from Guyana”.
The Minister pointed out to residents how the non-passage of this bill has already started to affect the country in terms of several road construction projects being stalled. “Right now there is a shortage of stones for the construction of roads, we have awarded 165 contracts to about 35 contractors…there is no stone and the ready mix company wants to buy stones and he wants to transfer money to St Vincent”.
Minister of Legal Affairs, Anil Nandlall emphasising a
point during his presentation to Bartica residents.
This, the Minister said is just a start of the trickledown effects the non-passage of this bill would have. “If Guyana is blacklisted it will affect all Guyanese, all foreign direct investments will be affected, companies which plan to come and companies that are already operating in Guyana will not stay because they w ill have difficulties in their financial transactions,” Minister Edghill said.
Minister of Legal Affairs Anil Nandlall also stressed on the devastating effects the non-passage of this will have on all Guyanese. “It is so important that we come to you in person to clarify any issues you may have about the bill so that in the end whatever the outcome we in the Government must, with a clear conscience, say to ourselves we did our best and all we could have done,” Minister Nandlall said.
“The devastation that will befall this country, the adverse effects that will be unleashed, and the economic stagnation that will follow if this bill is not passed will not discriminate in its effect”.
Minister Nandlall further reiterated that not only will Government supporters be affected, but Guyanese from all walks of life, economic and social standing and geographic location , “Because the world that we live in is a global village, countries can no longer isolate themselves from each other or from the rest of the world. Whatever happens in one part of the world we feel it here because we all depend on each other, that is how small the world has become” he reminded the residents of Bartica.
Touching on the contentious issue of the recent proposal made by the opposition, which seeks to give Police and Customs Officers the power to stop, search, seize and arrest citizens found with currency totaling $2 M if they have reasonable suspicion, the Minister said this is a move to criminalise each citizen.
A section of gathering at the, St. John the Baptist Primary
School, Bartica at the town hall meeting which was held to
discuss the Anti Money Laundering and Countering the
Financing of Terrorism (Amendment) Bill.
“Why are we going to put that in the law of this country? It is not the law of any country, how can you make money illegal in your country? I have said we live in a cash driven society we don’t have plastic cards…are we going to criminalise our people for the money that they earned? There was a time this had happened because of what we eat and now again we are going to be made criminals because of what we earn”.
The Minister told residents that if they do not speak out against the amendment, this will become the law of Guyana.
Responding to questions from residents about how they can have their say in the passage of the Bill, Minister Nandlall told residents that they can get in touch with their Party representatives or pen letters to their leaders in order to have their voices heard.
The passage of the AMLCFT Bill has been in limbo for more than 10 months with little to no support given by the Opposition. As part of the Government’s effort to get Guyanese involved in the process two other town hall meetings were held in Regions 10 and 6.