HGP Nightly News – In a landmark ruling with far-reaching implications for the relationship between financial institutions and political participation in Guyana, the High Court has found that the Guyana Bank for Trade and Industry breached an implied contractual duty of good faith when it terminated the accounts of several candidates of the WIN party ahead of last year’s General and Regional Elections.
The decision, handed down by Justice Nicole Pierre, marks a significant legal moment, and GBTI has already signaled it intends to fight back through an appeal. The account closures were part of a broader pattern that sent shockwaves through the political landscape in the lead-up to the 2025 elections, when a number of local commercial banks severed ties with WIN party candidates in quick succession.
None of the banks publicly stated their reasons for doing so, but the timing, and the identity of those affected, left little room for ambiguity in the minds of many observers. WIN party leader Azruddin Mohamed had been sanctioned by the United States Government more than a year before the party was even formed, and his status as a sanctioned individual cast a long shadow over every candidate who chose to run under his banner.
The banks, it appeared, had made a calculated decision that association with Mohamed and his party was a risk they were not prepared to carry. The High Court’s ruling cuts through that silence and delivers a pointed verdict: whatever the banks’ reasoning may have been, the manner in which GBTI terminated those accounts fell short of the good faith obligations that exist within a contractual relationship.
It is a finding that will reverberate well beyond this particular case, raising uncomfortable questions about how financial institutions weigh regulatory risk against the rights of individuals to participate in the democratic process without being commercially punished for their political associations.
GBTI, for its part, is not accepting the ruling lying down. The bank confirmed it will appeal certain findings, standing firmly behind what it described as its unwavering commitment to regulatory compliance, responsible risk management and the protection of the financial system.
