Bill supporting robust business environment signed into law

President Irfaan Ali has signed into law the amendments to the Financial Institutions Act of 2025, paving the way for foreign financial institutions to establish representative offices in Guyana.

The Bill, passed by the National Assembly on February 19 and enacted on February 25, is expected to enhance the country’s financial landscape by allowing international banks and financial entities to establish a presence—though with a specific mandate.

The Georgetown Chamber of Commerce and Industry (GCCI) has praised the new legislation, calling it a timely addition to the government’s ongoing efforts to improve Guyana’s business and economic environment.

In a statement, the GCCI highlighted that the Act addresses the growing demand for capital amid increasing investment interest in Guyana. The Chamber also emphasised that a well-regulated financial sector is crucial to supporting this influx of investment.

This perspective aligns with comments from Minister with responsibility for Finance, Dr. Ashni Singh, who, during his presentation of the bill, stressed that investor interest extends beyond the non-financial sector.

“Investor interest is not confined to the non-financial sector. Large financial institutions are interested in establishing a presence in Guyana and doing business with Guyana,” he stated.

Meanwhile, Governor of the Bank of Guyana, Dr Gobin Ganga, clarified the role of these representative offices in an exclusive interview with Ignite News.

“These offices will act as information centres, providing details about financial services and assisting in ways that local agencies might not have been able to before. It’s important to note that these are not new banks—they won’t be issuing loans or grants. Their role is strictly informational.”

With this legislative development, Guyana continues to position itself as a strategic destination for international investment, while maintaining a regulated and transparent financial system.