Sanctioned businessman urges boycott of companies taking precautionary measures

In a move stirring controversy and public backlash, US-sanctioned businessman Azruddin Mohamed has called for a nationwide boycott of several reputable businesses that have taken steps to reduce exposure to entities under international scrutiny.

Mohamed, who leads the newly formed political movement We Invest in Nationhood (WIN), has publicly denounced financial institutions such as Demerara Bank, Guyana Bank for Trade and Industry (GBTI), and Citizens Bank. These banks have recently terminated accounts connected to WIN-affiliated individuals following internal risk evaluations triggered by sanctions imposed by the United States.

Despite the regulatory rationale behind these decisions, Mohamed’s organisation has framed the moves as politically motivated. A statement released via Team Mohamed’s official Facebook page accused the banks of aligning with the ruling People’s Progressive Party/Civic (PPP/C), even warning that these actions “will not go unanswered.”

The statement further urged Guyanese citizens to resist what it described as “authoritarian overreach,” and called for a consumer boycott of several major businesses, including Demerara Distillers Limited (DDL), the Beharry Group and its subsidiaries, as well as fast-food outlets KFC and Pizza Hut.

Public response to the call for a boycott has been swift, with online users criticising the move, noting that several WIN-affiliated individuals are now facing financial exclusion—while Mohamed’s sister and her husband, both not on the party list, have avoided such consequences.

Azruddin Mohamed and his family’s business empire—including Mohamed’s Enterprise, Hadi’s World, and Team Mohamed’s Racing—were placed under sanctions by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) on June 11, 2024. The US has sanctioned Azruddin and his father Nazar for gold smuggling, tax evasion, and corruption.

Following the announcement of these sanctions, the Bank of Guyana confirmed that domestic financial institutions had closed all known accounts associated with the Mohamed family, citing regulatory compliance concerns.

Vice President Bharrat Jagdeo has previously highlighted the danger of local banks losing access to global financial systems such as SWIFT—the international messaging system that facilitates secure cross-border banking transactions—if they continue relationships with sanctioned individuals. Such consequences, he emphasised, could seriously jeopardise the country’s banking infrastructure.

Recently, US Ambassador Nicole Theriot said the US will be concerned if Azruddin is elected to Parliament. She cautioned that such developments could undermine investor confidence and lead American firms to reconsider business ties with the country.