SUNDAY No. 103734
SUDNAY FEBRUARY 9, 2014
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APNU parroting other stakeholders’ concerns on AMLCFT bill - AG Page 3
PAGE ONE COMMENT Veteran pilot Mike PUT THE NATION FIRST Charles - proud owner of National Flag that went to 2 the moon Page
A proud Mike Charles with the Golden Arrowhead that went to the moon
Aunt of policeman Page 9 involved in Colwyn Harding’s matter terrorised at her home TOURISM MARKETING, Page 10 INVESTMENT & SERVICE INITIATIVES BEING PROMOTED
POWER is a heady thing; it can subvert the best of intentions; and against incontrovertible evidence and intractable, self-serving positions taken by the PNC/APNU/AFC, stakeholders and well-wishers in and of Guyana are hoping that the combined opposition have the best intentions of putting the nation first and will support the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill, even if in a last-minute effort to save this country from the dire consequences of non-compliance with the strictures of the Financial Action Task Force (FATF), which is based in Paris, France. Belize Opposition Leader, Francis Fonseca has taken the high road and, in a graceful gesture of co-operation for the national good, Belize parliamentarians, quoting from a newspaper in that country, “... gave rare bipartisan support to a raft of legislation in the National Assembly this week, as the country tries to avert major financial sanctions already being felt by our sister Caribbean country, Guyana. This follows a call last November by the Caribbean Financial Action Task Force (CFATF) to its members to ‘consider implementing counter measures to protect their financial systems from the ongoing money laundering and terrorist financing risks emanating’ from Belize and Guyana... Belize Opposition Leader Francis Fonseca said that the laws would inevitably lead to the complete undermining of the offshore industry in Belize—which is perhaps what is intended.... Fonseca said that this is the reality of life in 2014: “We can complain, but we have to comply.” Noting Opposition resistance against the legislative changes in Guyana, Prime Minister Dean Barrow went on to thank Belize’s Opposition for supporting the bills: “I certainly appreciate, in any case, the sense of realism that the Opposition is displaying and their support of the measures…” The report continued “In speaking of the legislation Wednesday, Prime Minister Dean Barrow, Minister of Finance and Economic Development, said the Financial Action Task Force (FATF) is meeting on Monday, February 10, in Paris; and on the agenda is the subject of the possible blacklisting of Belize and Guyana.” A gridlock between Guyana’s Opposition and Government has meant that they were unable to get their legislative measures passed last November, when the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill was defeated; but the bill has since been taken back to parliament, given the huge national implications with which they will have to contend. The private sector community and a large group of civil society members of Guyana are calling on the Opposition to let the bill go through on Monday, warning of the dire consequences for Guyana, which exports primary products such as sugar, rice, gold, diamonds, and bauxite. Of note is that Guyana is also the home of the CARICOM Secretariat. Guyana’s Chief Whip, Gail Teixeira has said that the level of remittances has been dwindling, as there has been increased scrutiny of persons sending money to the country. She said that due to the additional scrutiny now in place, people sending money will be asked by banks to pay additional fees – that is how ordinary people will be affected. However, as for business and government foreign transactions, such as the purchase of goods and services, the private sector in Guyana is now screaming that they are now being asked by banks to fill out an inordinate amount of paperwork for
overseas purchase of equipment—which has caused setbacks in the productive sector. However, A Partnership for National Unity (APNU) frontbencher, Joseph Harmon said in a media report last Tuesday that some of the measures in the current Anti-Money Laundering & Countering the Financing of Terrorism (AML/CFT) Bill saw the possibility of rights related to searches and seizures being violated. He added that the “even more draconian measures” in place would be a threat to certain liberties. But Attorney General and Minister of Legal Affairs, Anil Nandlall, rejected the negative characterisation of the AML/ CFT Bill, and said, inter alia: “Money laundering, the proceeds of crime and terrorism, the mischief which the bill addresses, are extraordinary criminal conduct which has had extraordinary impact on every part of the world where they manifest themselves. They have led to the deaths of thousands and destroyed the lives of hundreds of thousands of people worldwide. “Therefore, such extraordinary ills require extraordinary laws and penalties to tackle them. That is the philosophy which inspires and informs this legislation,” the Attorney General stated. “This piece of legislation is part of the laws of the entire Caribbean and in most countries of the English-speaking Commonwealth. We are doing nothing new and novel in Guyana by promulgating this bill,” the AG stressed. The APNU Member of Parliament (MP) claimed that Nandlall “would have been bandying the idea that the amendments were prepared by the Caribbean Financial Action Task Force (CFATF)”, and as such there were no sessions with stakeholders, such as the Bankers Association, to find out how it would affect them. But the AG responded, “Mr. Harmon is absolutely wrong in his contentions that the AML/CFT was prepared by the CFATF, and that there was no consultation with stakeholders. “Firstly, the bill was never prepared by CFATF. The bill was crafted by us in Guyana, based upon recommendations made by CFATF to Guyana in their effort to correct certain deficiencies which they identified existed in the legal architecture of our AML/CFT regime.” The private sector, the banking sector, the manufacturing sector, the diplomatic community – stakeholders from all walks of life, including supporters of the APNU/AFC combo, have urged the joint opposition to support the bill in the national interest, with no success so far; and with an ever-looming deadline. The Attorney General made it clear that the principal act spent over two years in a Special Select Committee – meetings that were attended by stakeholders who made contributions. He said, “You will recall (that) since March 2013, when the bill was first laid in the National Assembly, the Opposition claimed that they have a contribution to make to this bill, and that they want a “good bill”. Well, this bill has been in the National Assembly for the last 11 months. It was debated more than two times on the floor of the National Assembly. It spent several months in two select committees. During all of this, the nation is yet to hear what contributions the Opposition wishes to make to this bill.” The National Assembly meets tomorrow Monday, February 10, and MPs are expected to consider the report of the Parliamentary Select Committee reviewing the AML/CFT Bill, as well as the bill itself for passage. On Thursday, February 13, the France-based Financial Action Task Force (FATF) is expected to meet, at which time Guyana could qualify for the International Cooperation Review Group’s (ICRG) evaluation.
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