During a campaign rally on Sunday, President Dr. Irfaan Ali stated that individuals associated with Azruddin Mohamed and his newly formed party, WIN, were warned of potential consequences for their affiliations. He revealed that several commercial banks—Guyana Bank for Trade and Industry (GBTI), Demerara Bank, and Citizens Bank—have already closed accounts belonging to candidates linked to the party.
“I have been told that more young people will receive letters of closure from other banks as early as this week,” the President remarked, emphasizing the importance of maintaining access to banking services for daily transactions.
Dr. Ali expressed concern for the young citizens affected by these closures, stating, “We don’t want to lose any of our young citizens.” He assured that efforts would be made to bring them back into the fold, saying, “We will educate them and lift them up with this development in this country.”
The account closures reportedly include those held by Natasha Singh-Lewis, formerly of the People’s National Congress Reform (PNCR), and Duarte Hetsberger, the Personal Assistant to former Chief Elections Officer Keith Lowenfield, who has faced significant controversy.
The President reminded attendees that candidates were warned about the implications of associating with Azruddin Mohamed, who is linked to U.S. sanctions due to allegations of gold smuggling and corruption. “They did not listen, and they ended up on a list,” he added.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against the Mohamed family on June 11, 2024, which led to the revocation of business licenses and the closure of bank accounts connected to their enterprises, including Mohamed’s Enterprise and Hadi’s World.
Following the submission of WIN’s candidate list, banks were compelled to review their compliance measures in accordance with international banking regulations, particularly Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws. This resulted in the closure of accounts associated with party members.
While acknowledging the impact of these sanctions, President Ali clarified that the government does not directly control the actions of private banks. “They are blaming the government, but we have nothing to do with that…as President, I have to know what is happening,” he stated.
The President’s remarks come as tensions rise ahead of the upcoming elections, with the implications of international sanctions and banking compliance becoming significant issues in the political landscape.
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