Anti-Money Laundering Bill…Local businesses brace for hike in foreign currency rates
The non-passage of the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill by this month-end would see financial hardships threatening Guyana’s economy.
This view was expressed by Nazar Mohamed, General Manager of Mohamed’s Enterprise, recently.
According to Mohamed, there is currently no shortage of foreign currency on the local market. He assured that there is no problem in customers getting money transfers or cash from commercial banks to conduct business. There may be instances where a customer would be asked to wait a day or two but there is no lengthy delay. However, a matter of concern is the hike in exchange rate for US dollar as against the Guyana dollar.