President Dr. Irfaan Ali on Sunday said those who associate with Azruddin Mohamed and his party were warned they would face consequences but they did not listen, and he said more banks could act against those who ended up on his list of candidates as early as this week.Three commercial banks – Guyana Bank for Trade and Industry (GBTI), Demerara Bank and Citizens Bank – have since closed the accounts of candidates associated with Azruddin’s party.“I have been told on Monday that more young people will receive letters of closures of their accounts from other banks,” he said during his address at the People’s Progressive Party/Civic (PPP/C) campaign rally in Linden on Sunday.Understanding the importance of a functioning bank account to be able to conduct daily transactions, the President said: “I told the General Secretary that we have to bring those young people together and we have to talk to them because we don’t want to lose any of our young citizens.”“We will bring them back. We will educate them back. We will lift them up back with this development in this country,” he added.Citing internal policies, the banks have closed several accounts including those held by Natasha Singh- Lewis, formerly of the People’s National Congress Reform (PNCR), and Duarte Hetsberger, the Personal Assistant to disgraced former Chief Elections Officer Keith Lowenfield.The President reminded that the Candidates were warned of the implications of being associated with the US-sanctioned businessman but “they did not listen, they ended up on a list.”While he said the implications are tied directly to the United States, Dr. Ali said his Government is forgiving and does not want to see citizens affected.“Today, who are going to take care of those young people now who don’t have a bank account? They are blaming the government. We have nothing to do with that…as President, I have to know what is happening.”The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, on June 11, 2024 announced the imposition of sanctions against the Mohamed’s family, specifically targeting Nazar Mohamed, his son Azruddin Mohamed, and their businesses, namely Mohamed’s Enterprise, Hadi’s World and Team Mohamed’s Racing. These sanctions were connected to gold smuggling and corruption. Former Permanent Secretary of the Home Affairs Ministry, Mae Thomas, was also sanctioned. Thomas also had her bank accounts closed.Because of these sanctions from the US body, business licences the Mohameds had were rescinded and their bank accounts were closed.Azruddin subsequently formed the WIN party through which he is contesting the upcoming polls.Following the submission of the party’s list of candidates, the commercial banks have been compelled to review their compliance measures in line with international banking regulations, particularly those mandated by Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws, which are designed to prevent the use of illicit funds.This led to the closure of the accounts associated with the party members.The post Candidates with Azruddin’s party were warned but did not listen: President says more banks to close accounts appeared first on News Room Guyana.