Money Laundering amendments - Gov’t will be exonerated, nation will be persecuted …opposition will have to bear responsibility-AG

Written by, Thursday, 23 May 2013 23:02, Source

IT IS now almost certain that international sanctions will be imposed on Guyana’s financial architecture, given its failure to have legislative requirements in place before the deadline expired.

And Attorney General Anil Nandlall believes that while government will be exonerated as a result of its efforts, the nation will be persecuted.

President Donald Ramotar

Nandlall in a brief interview with the Guyana Chronicle yesterday, provided an update on the work of the Special Select Committee tasked with addressing the amendments to the Anti-Money Laundering and Countering the Financing of Terrorism laws and informed that the opposition has now asked that the matter be deferred until June.

The Committee resumed meeting yesterday morning after A Partnership for National Unity had earlier in the week withdrew its participation.

The Committee, he said, will resume its work on addressing the amendments on June 12; even as he will travel to Nicaragua in a last ditch attempt to plead Guyana’s case.

Attorney General Anil Nandlall

Guyana would have had to have its amendments approved in the House at a Special Sitting of the National Assembly by today.
Head of State Donald Ramotar had appealed for the special sitting, but this did not find consensus with the combined political Opposition in the House.

Nandlall informed the Guyana Chronicle that, as a result, he will be heading to Nicaragua along with a delegation from the Financial Intelligence Unit of the Ministry of Finance to attend the mandatory country review by the Financial Action taskforce.

According to the Attorney General, who also serves as Minister of Legal Affairs, while he will seek to outline the efforts made on the part of the Guyana Government to have the legislative amendments to Guyana’s money laundering laws in place, sanctions are now an almost certainty.

Nandlall says that the nation must understand that it is the political opposition that will have to be held responsible for Guyana missing the deadline and causing the sanctions to be imposed on the nation.

The minister says that he will be providing the review body with a comprehensive outline of the Government efforts to comply with the stipulations.

Nandlall reminded that he had already previously informed the review body of the nature of the current dispensation in Parliament, and would seek to make an appeal to have the body provide Guyana with an extension to the deadline.
This he said is not a guarantee.

Head of State Donald Ramotar, in an unprecedented appeal to members of the National Assembly during this week’s sitting of the House, had asked that they “put Guyana first.”

Ramotar, in the plea, through Prime Minister Samuel Hinds, had asked that the members of the House, particularly at the level of the Special Select Committee, do all that is possible to complete the review of the legislative amendments.

In his appeal, Ramotar had said that it may be important to consider that many other countries in the Caribbean would have also experienced challenges in meeting recommendations by the task force review group, in meeting deficiencies in their money laundering laws; but noteworthy is that in those crucial times, the various legislative bodies “have been able to rise to the occasion and protect national interest.”

The President used the opportunity to remind of the repercussions that had been meted out to countries that would have had their statuses downgraded as a result of failing to abide with the international obligations.

“We have a moral responsible to ensure Guyana’s obligations,” are met, according to Ramotar, who said that the amendments will bring Guyana in compliance with over 90 per cent of the recommendations.

“The Guyanese people are watching,” cautioned Ramotar, even as he had expressed an optimism that as “as honourable men and women, you will do what is right for our blessed country.”

Last Updated on Thursday, 23 May 2013 23:04