A respected advocate for transparency and governance is calling out what he describes as a “coordinated and troubling pattern” among leading commercial banks in Guyana, following the abrupt and unexplained closure of savings accounts belonging to several We Invest In Nationhood (WIN) party candidates.
In a formal letter to the Guyana Bankers Association (GBA), Dr. Christopher Phekni, an academic and former financial sector adviser, voiced “grave concern” over the actions of Demerara Bank Limited, Guyana Bank for Trade and Industry (GBTI), and Citizens Bank. The letter accuses the banks of closing the accounts without explanation, due process, or transparency—raising red flags about potential political interference.
“These actions were carried out without any reasonable cause provided to the affected customers, and in the absence of public transparency or accountability,” Dr. Phekni wrote.
According to the letter:
Demerara Bank Limited confirmed it had closed accounts held by WIN candidates Natasha Singh‑Lewis and Duarte Hetsberger, citing “internal policy” and vague compliance issues tied to international regulations. No specific violations or documentation were shared.
GBTI reportedly terminated accounts for approximately 20 WIN-affiliated individuals, referencing a “risk-based compliance assessment” but offering no opportunity for affected persons to respond or challenge the decisions.
Citizens Bank has also followed suit, citing AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) compliance—again without clarity or public accountability.
Dr. Phekni argued that these actions appear to be coordinated, opaque, and discriminatory, with potential implications for political freedom and democratic participation in the lead-up to national elections.
“These account closures were executed in closed-door meetings and left the affected individuals without recourse or due process. To date, no public statement or apology has been issued… This silence only heightens concerns that these actions were politically motivated,” he added.
The academic also pointed to the Bank of Guyana’s own policy guidance from August 19, 2019, which outlines that financial institutions must uphold transparency, due process, and non-discriminatory practices. “The actions by these three banks appear to directly contradict this policy framework,” he stated.
Dr. Phekni is calling on the GBA to:
- Provide a public explanation of the account closures and the criteria used.
- Commission an independent review of the decisions made by the three banks.
- Issue a formal apology to all affected individuals.
- Offer public assurances that banks will operate free of political bias and in accordance with customer protection guidelines.
“The integrity of Guyana’s banking system relies heavily on public trust,” he emphasized. “These recent actions threaten to undermine that trust, particularly when members of a political party are seemingly targeted without just cause or transparent explanation.”
As of press time, none of the three banks nor the GBA have responded publicly to the allegations or issued statements on the matter.
See letter below:
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Dr. Christopher Phekni holds doctoral degrees in both Education (Ed.D) and Philosophy (Ph.D) and is widely regarded as a policy analyst and civil society advocate. He previously served as a financial compliance consultant to international development agencies and has been a vocal campaigner for democratic governance and institutional accountability in Guyana. Phekni is known for bridging academic expertise with grassroots activism, particularly around electoral justice, transparency, and the rights of marginalised groups.
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