No PSSC Report presented to National Assembly

–Guyana misses chance to exit blacklisting trap

THE “sad reality” of yesterday’s sitting of the National Assembly is that it was not graced with a report from the Parliamentary Special Select Committee (PSSC) that is considering the amended anti-money laundering Bill.

Hence, any expectations of a Bill that could be enacted, that could be assented to at this or subsequent sittings, has essentially been lost, Head of the Presidential Secretariat Dr Roger Luncheon observed Wednesday.
Speaking at his usual post-Cabinet press briefing at the Office of the President in Georgetown, Luncheon said that for Guyana, the Caribbean Financial Action Task Force (CFATF) and the Financial Action Task Force (FATF)-compliant anti-money laundering legislation “is a must” to exit the blacklisting trap that Guyana currently is in.
Luncheon said efforts by the government to get the PSSC as an instrument of the parliamentary political parties to timely consider newer perspectives appear “unavailing.”
The government has been attempting to engage with newer initiatives and the necessary engagement meetings have yet to take place. What is significant about that loss is for whatever worth it provided, a CFATF/FATF legislation taken to the FATF plenary that is occurring next week and the opportunity of Guyana appearing with CFATF legislation, is also lost.
“It goes without saying that whatever it was worth, that loss is going to confirm, it is going to contribute to a heightening of the blacklisting of Guyana and its financial sector.”

(By Telesha Ramnarine)

extracted from the Guyana Chronicle