
23/07/2025
Demerara Bank Severs Ties With WIN Candidates Amid Sanctions Fallout
Two candidates representing the WIN (We Invest in Nationhood) party have received formal notice from Demerara Bank Limited that their personal bank accounts will be closed, deepening concerns over the ripple effects of U.S. sanctions on party leader Azruddin Mohamed.
Natasha Singh-Lewis, a long-time customer and candidate on the WIN list, confirmed during WIN press conference on Tuesday that Demerara Bank has issued her a letter stating that her account will be closed by July 25. She says the bank cited “internal policies and banking requirements,” without providing further explanation.
“I have had an account with Demerara Bank for over 15 years. I’ve never had any financial dealings with Mr. Mohamed or his companies,” Singh-Lewis said. She noted that she has retained legal counsel and is reviewing her options.
Another WIN candidate, Duarte Hetsberger, has also been notified of the same closure timeline and reasoning. Neither candidate has been officially accused of wrongdoing.
WIN spokesperson Odessa Primus confirmed that “a number” of the party’s candidates have been affected, calling the move “deeply troubling.”
“These actions appear to be based solely on association—without evidence, due process, or clear legal basis. It sets a dangerous precedent,” Primus said.
She emphasized that most WIN candidates have no financial ties to Azruddin Mohamed, who was sanctioned by the U.S. Treasury Department in 2024 for alleged gold smuggling and corruption. The sanctions led to the freezing of assets and the closure of accounts linked to Mohamed and his immediate business network.
While Demerara Bank has not issued a public statement, legal analysts say the closures may stem from increased compliance scrutiny, with financial institutions erring on the side of caution when customers are politically linked to sanctioned individuals.
Guyana’s financial institutions are bound by both local and international anti-money laundering (AML) standards, which may include cutting ties with high-risk clients to avoid exposure.
It remains unclear whether the Bank of Guyana or any regulatory agency will investigate the matter. WIN officials say they are considering legal options and may take the issue to court if necessary.