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A growing military bureaucratic complex by GHK Lall

There is increasing concern for that which is taking shape in this society.  Taking shape runs the risk of some understatement, as foundation, superstructure, and roof are all in place, and poised to experience reinforcements.  For in 2017 Guyana, there is already something of an aberration in operation, and an oxymoron in clashing encroaching stride; and if it is neither ...

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Money Laundering: Developing a risk-based framework by Sharmini Rampersaud

A risk- based approach has an important role in financial institutions in relation to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). Bank of Guyana (BOG) Supervision Guideline 13 states, “ the FATF (Financial Action Task Force) in its revised forty recommendations plus nine special recommendations on AML/CFT recommended that financial institutions adopt a risk-based approach to customer due ...

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PM’s luxury ride- a continuation of the good times people by GHK Lall

Reference is made to the Demerara Waves online article of May 22nd, captioned “PM’s luxury ride raises eyebrows in Parliamentary Committee.”  I must admit that it did a little more than that for me: it caused the eyes to glaze over slightly.  Not again!  Not one more of these uncalled for, avoidable errors in management, in judgment, and in political ...

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Money laundering in Guyana by Sharmini Rampersaud,AICA

The Bank of Guyana (BOG) Supervision Guideline No.13 states that money laundering means: “A person commits the offence of money laundering if he knowingly or having reasonable grounds to believe that any property in whole or in part directly or indirectly represents any person’s proceed of crime…” It should be noted that “money laundering process” is continuous since illicit money ...

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Kick-starting an economy by Basil Springer

“Jesus Christ is the same yesterday and today and forever.” – Hebrews 13:8 Much energy has been spent by Barbadian leaders and professionals recently on litigation, political wrangling, poor decision making, questionable management, ego massaging, internal quarrels, media messaging and conflicting advice regarding national economic issues. If we spend this energy constructively kick-starting the Barbados economy,  then the engine of ...

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Eye On The Issues: Taxes behind the tears and tumult

by GHK Lall Tax has to be among the most hated words in this country.  It ranks right up there among the some real detestable things and people.  Not surprisingly, the earlier announcement of a flurry of taxes has brought tears (some onion induced); terrors (on potential exposures); and tumult (what new dispensation?) over being called upon to pay.  As ...

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Should charges be laid against former and current government officials for conditions of service? – Anil Nandlall

I have been charged for stealing books, the subscriptions for which were paid for by the Government of Guyana, which I specifically requested as a condition of my service as Attorney General and Minister of Legal Affairs and which was granted by the President of the Republic of Guyana. The market value for these books is about $420,000. Sometime in ...

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Eye On The Issues by GHK Lall: The financial sector has had a free pass; time to change that

There have been occasional mutterings over a very profitable segment in the visible, well-regarded part of the Guyanese economy.  It is time that an honest probing telescope is trained on it, and the mutterings coalesce into a consistent crescendo.  The private financial sector is highlighted. Even to the untutored layman, there is some discernment that recognized institutions may have allegedly ...

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Eye On The Issues: Citizens have to decide between the dirty and deadly and clean and costly

by GHK Lall Citizens from a few strata of society have been visible and vocal in their disagreements with government on a number of simmering issues.  While the underlying substance might be significant on occasion, the thinking and approaches have raised questions.  Nevertheless, the result is that government is under continuous scrutiny, sometimes skewered, and altogether pressed for higher standards ...

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