The High Court has ruled that the Guyana Bank for Trade and Industry Limited (GBTI) breached an implied contractual duty of good faith when it terminated several accounts belonging to candidates for the WIN party last year.
The decision was handed down by Justice Nicole Pierre.
The ruling follows actions by a number of local commercial banks that cut ties with WIN party candidates ahead of the General and Regional Elections last year. The WIN party’s leader, Azruddin Mohamed, and several of his businesses had been sanctioned by the United States Government more than a year before the WIN party’s formation and its participation in the 2025 elections.
While the banks did not provide specific reasons for terminating the accounts, it was suspected that the decisions were linked to the candidates’ association with Mohamed.
GBTI said it will appeal the High Court’s decision.
In its statement, the bank said it respectfully notes the Court’s findings but has chosen to appeal certain aspects of the ruling, adding that it remains “unwavering” in its commitment to regulatory compliance and risk management, and will continue strengthening its policies, procedures and decision-making frameworks.
