Bank accounts important for “next phase” of wealth transfer – Ali

Last Updated on Sunday, 19 October 2025, 9:34 by Writer

The Guyana government appears poised to press forward with convincing Guyanese that they should open bank accounts to eventually receive cash grants, according to President Irfaan Ali.

“Before we define the next phase of wealth transfer, we’re going to incentivise the system for persons to actually go and open their bank account because the eID card (Electronic Identification Card), your bank account, and migrating all government services on(to) a digital platform is going to leapfrog us, and, more importantly, improve efficiency, reduce bureaucracy and enhance transparency,” he told the recently-held reception hosted by the Canada-Guyana Chamber of Commerce.

When contacted on Saturday, the President said there was no link between the roll-out of the new eID card project and start of the the disbursement of the next cash grant.

On the 2025 election campaign trail, Dr Ali had hinted that there would be another cash grant before Christmas.

Vice President Bharrat Jagdeo later said the President keeps his promises.

Speaking at the Canada-Guyana Chamber of Commerce dinner said the aim is to have every citizen have a bank account. In that regard, he said his government and the banking sector had already modified the criteria for opening personal, small business and corporate accounts and so removed the “burdensome challenges” in doing so.