THE Federation of Independent Trade Unions of Guyana (FITUG) has called for political parties represented in the National Assembly to pass the Anti-Money Laundering/Countering of the Financing of Terrorism (AML/CFT) (Amendment) Bill.
A release from FITUG said it represents 35,000 workers in strategic sectors of the economy and given the announcement that “the Financial Action Task Force (FATF) has facilitated more time for the National Assembly to pass this important legislation, the partisan politics exhibited on November 7, 2013, which resulted in the defeat of the original Amendment Bill and the subsequent blacklisting of Guyana by the Caribbean Financial Action Task Force (CFATF), need not be repeated again at this critical juncture in Guyana’s history.”
FITUG said that its members, some of whom are among the recipients of remittances from abroad, will, undoubtedly, be affected. It said, “We understand that money transfers may take longer and fees for such transactions will increase as well. Also, the threat of international financial institutions ceasing to conduct business in our