Mohamed’s cambio licence revoked

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The Bank of Guyana on Thursday revoked the cambio licence held by the Mohamed’s family following United States sanctions on two members of the family and a government official.

In a notice issued on Thursday, the Bank of Guyana said the cambio licence has indeed been revoked.

“Members pf the Public are hereby advised of the revocation of the licence of Confidential Cambio situated at Lot 29 Lombard Street Werk-en-Rust, Georgetown in accordance with the Dealers in Foreign Currency (Licensing) Act 1989. As a consequence, the entity is no longer authorised to conduct the business of buying and selling of foreign currency,” the revocation notice stated.

Nazar Mohamed and his son, Azruddin, were members of the Mohamed’s family sanctioned by the US Department of the Treasury.

Ventures associated with the family: Mohamed’s Enterprise, Hadi’s World and Team Mohamed’s Racing were also sanctioned. Permanent Secretary of the Ministry of Labour, Mae Thomas was also implicated in the corruption allegations.

Vice President Dr. Bharrat Jagdeo, during his Thursday press conference, said steps are being taken to ensure that the State is in compliance with the US sanctions. The revocation of the cambio licence is one of those steps, he said.

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3 Comments
  1. habeeb says

    I am not as dumb as a doornail….as the saying goes.
    There must have been many others in the Guyana Government, who were aware what was an ongoing situation but, afraid to act. Then there were private citizens in the business too.
    Guyana authorities had to wait until the US PUBLICLY announced to the world, and then they act by cancelling
    the Cambio permit…. hey ! we didn’t know a damn thing… they are just like many other legal businesses.

  2. habeeb says

    At least they made many charitable gifts to many less fortunate.
    Now, that may not be so in the future.

  3. Kaie says

    Notice how when the USA financial agencies speak de balded one listens and acts… pity theFBI didnt get involved in the Dildo fella alleged rape accusation(S)

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