The Private Sector Commission (PSC) has strongly condemned calls from the We Invest in Nationhood (WIN) party to boycott local businesses, deeming such utterances both reckless and irresponsible.
WIN, which is led by US-sanctioned businessman Azruddin Mohamed, accused Demerara Bank and the Guyana Bank for Trade and Industry (GBTI) of closing the bank accounts of the party’s candidates for political reasons. However, the banks opted to close these accounts after they were compelled to review their compliance measures in line with international banking regulations, particularly those mandated by Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws, which are designed to prevent the use of illicit funds. WIN, in a statement, called on Guyanese to boycott the banks and other businesses.
When Azruddin, his father Nazar Mohamed and their businessess were sanctioned, all local banks closed their accounts. Accounts belonging to Mae Thomas, the Permanent Secretary in the Ministry of Home Affairs, who was also sanctioned, were also closed.
See below the full statement from the Private Sector Commission:
The Private Sector Commission (PSC) strongly condemns the recent abhorrent public call by the WIN Party to boycott several private companies operating lawfully in Guyana. This call is reckless, inflammatory, and both politically and economically irresponsible.
Let us be absolutely clear: the private sector in Guyana is not an arm of the state. Our members make decisions based on their internal risk assessments, legal obligations, and the best interests of their shareholders, employees, and clients. These companies operate fully within the framework of Guyana’s laws and international regulations.
We categorically reject any attempt to bully or coerce the private sector into political conflicts. The attempt by a political party, whose leader is currently sanctioned by the United States’ Office of Foreign Assets Control (OFAC), to pressure private businesses through public threats and organised boycotts is a direct attack on the democratic principles it claims to uphold.
The greatest threat to democracy is not lawful private enterprise; it is the dangerous weaponisation of political rhetoric to incite division, erode trust, and destabilise our economy and society.
Many of our member companies maintain longstanding economic relationships with the United States and other international partners. Threatening these businesses for making responsible, lawful decisions is not only misguided but also reckless, with potential consequences for the thousands of Guyanese whose livelihoods depend on them.
We urge all political actors to conduct themselves with maturity and responsibility. The PSC will not support, condone, or remain silent in the face of any effort to destabilise our political or economic environment or to intimidate our members.
To the business community, we reaffirm this:
You have our full support.
Continue to act in good faith, uphold the law, serve your clients, and protect your employees. Do not be intimidated by political posturing.
To the public, we urge calm and reason.
Guyana’s continued progress depends on a stable, lawful, and united nation.
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