Latest update April 21st, 2025 5:30 AM
Latest News
- Documents for Wales Gas-to-Energy project will be made public when entire scheme is completed- VP Jagdeo
- President Ali should determine whether Ramson should be sacked for non-performance – Jagdeo
- 31 Palestinians killed by bombs yesterday across Gaza
- Linden youths killed by police laid to rest
- Biker killed in Essequibo crash
Bank of Guyana warns financial institutions… ‘Don’t ask customers which political parties they backing’
The Bank of Guyana (BoG) is warning financial institutions not to ask customers which political parties they are backing.
The BoG has asked financial institutions not to ask customers which political parties they are backing.
BoG’s Governor, Dr. Gobind Ganga
In a circular on Thursday, August 22nd, the bank, as the regulator of financial institutions in the country, said it has come to its attention that customers have been questioned regarding their allegiance to/affiliation with any political party.
“Please note, the conditions governing the issuance of your licence do not include ascertaining the political persuasion of any customer,” BoG’s Governor, Dr. Gobind Ganga, said in the circular.
It was addressed to lending institutions, money transfer agencies, cambios, insurance companies, agents and brokers.
“The Bank hereby directs all licensees to ensure that in the course of conducting businesses, customers are not subjected to matters unrelated to their specific transaction(s) with your institution,” the circular also advised.
The Bank made it clear that failure to comply the directive shall result in actions.
In recent years, following the passage of new anti-money laundering and the financing of terrorism laws, the financial institutions of the country have been asking for more paperwork for transactions.
Citizens have been complaining bitterly of the inconveniences with the banks especially arguing that their hands are tied.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Greater Civilian Involvement in the Guyana Police Force
Peeping Tom… Kaieteur News- The Guyana Police Force (GPF) is in the throes of a chronic manpower crisis. It is no secret... more
A Chance to steer U.S.–Caribbean Relations through Trade Winds and other Passing Storms
By Sir Ronald Sanders Kaieteur News- U.S. Secretary of State Marco Rubio has signaled a genuine willingness to hear the Caribbean... more
Weekend Cartoon
