CARICOM STATEMENT ON GUYANA’S ANTI MONEY LAUNDERING BILL

(CARICOM Secretariat Turkeyen, Greater Georgetown, Guyana)     The Caribbean Community (CARICOM) is concerned at the continuing delay in Guyana’s progress towards implementing recommendations to address deficiencies in its anti-money laundering regime.  CARICOM calls on all parties involved in the process to take all necessary actions without further delay to have the necessary reforms implemented. 
CARICOM remains deeply concerned that failure to pass the Anti-Money Laundering/Combating the Financing of Terrorism Bill (Amendment) in Parliament could result in action by the Caribbean Financial Action Task Force (CFATF) which could have an adverse impact on the Guyanese economy and by extension the CARICOM Region as a whole.  Any action that reduces the ease or increases the cost of processing international financial or trade transactions will adversely affect trade and financial flows in the Region, retard the regional integration enterprise, limit the opportunities for growth in Guyana and the Region and result in hardship for the people of Guyana . 
CARICOM therefore urges that this matter be speedily resolved, by enacting the relevant legislation, in the interest of the people of Guyana and the Community.