Long-term plan for cash grant into personal bank accounts

Last Updated on Thursday, 2 January 2025, 22:14 by Writer

Government cash grants would in the medium- to long-term be deposited into Guyanese bank accounts after the now stalled new Electronic Identification (e-ID) Card system is implemented, Vice President Bharrat Jagdeo said Thursday.

“That’s what I would like to see happen. Once you can prove you’re Guyanese and you’re eligible…that will be the easiest thing for us (The Ministry of Finance) to do: to give payment instruction to the bank and they deposit in everybody’s account, all the people,” he said when asked by Demerara Waves Online News.

Due to the chaos at several cash grant cheque distribution locations, there have been mounting calls for a better system, such as making the deposits into recipients’ bank accounts to be put in place.

Though he did not say, a key requirement for the opening of bank accounts at all c0mmercial banks is a taxpayer identification number (TIN) that is obtained on registering with the Guyana Revenue Authority (GRA).

Mr Jagdeo again acknowledged a delay in the e-ID card project for which a US$35.4 million c0ntract was signed with the Germany-based company, Veridos, on March 10, 2023. He said “it’s going well” but “I don’t know what’s the new timeline for completion.”

He said the e-ID Card system, when it bec0mes a reality, would mark the evolution of a system that would be integrated with several government agencies including the General Register’s Office of births, deaths and marriages, and the GRA. Mr Jagdeo said each agency would be allowed access specific to their areas of responsibility. “We’re hoping that, with the enhanced biometrics, we’ll be able to allow a significant growth of mobile money, online banking; we would encourage every Guyanese to have an account so then it’s easy when you can verify, because you have solid biometrics now, that people are alive and well and resident in Guyana…then we’ll be able to deposit directly in their accounts,” he said.

The e-ID Card system is also expected to be integrated with the Immigration Department for the issuance and expiration of foreigners’ work permits.