The National Assembly on Monday approved the Guyana Development Bank Bill 2026 and the Hire Purchase (Amendment) Bill 2026, while referring the Sexual Offences (Amendment) Bill 2026 to a Special Select Committee. The measures form part of a series of legislative reforms aimed at expanding economic opportunities, improving consumer access to justice and strengthening protections for victims of sexual offences.
The Guyana Development Bank Bill paves the way for the establishment of a new financial institution designed to provide affordable financing for small and medium-sized enterprises (SMEs).
Piloting the legislation, Senior Minister in the Office of the President with Responsibility for Finance Dr Ashni Singh said the bill addresses one of the most persistent barriers facing entrepreneurs—access to capital.
“This bill seeks to establish a development bank that will provide loans, small loans, to SMEs in Guyana, loans of up to $3 million, free of interest, and free of collateral,” Dr Singh said.
He noted that the institution would support entrepreneurs who often struggle to secure financing through traditional banking channels, while creating new opportunities for business growth during Guyana’s economic expansion.
Supporting the bill, Minister of Agriculture Zulfikar Mustapha described the bank as “a game changer” for small farmers, fishermen, agro-processors and entrepreneurs in rural and hinterland communities.
Minister of Tourism, Industry and Commerce Susan Rodrigues added that the bill is about investing in people and unlocking productive potential.
The Hire Purchase (Amendment) Bill 2026 clarifies where disputes arising under the Hire Purchase Act can be heard.
Presenting the bill, Minister Rodrigues said the amendment removes uncertainty by allowing claims to be filed in either the High Court or a Magistrate’s Court, regardless of the monetary value involved.
“This amendment therefore provides much-needed clarity and certainty,” she said.
Rodrigues explained that the reform adopts a “sensible and people-centred approach” by allowing matters to be heard in courts that are practical and convenient for litigants.
“For many citizens and small businesses, access to justice is not only about legal rights but also about practicality, affordability and proximity. Allowing matters to be heard in courts closer to the parties involved reduces unnecessary hardship, lowers costs and promotes more efficient resolution of disputes,” she added.
Meanwhile, the Sexual Offences (Amendment) Bill 2026 was introduced and referred to a Special Select Committee for detailed examination.
Presenting the legislation, Minister of Human Services and Social Security Dr Vindhya Persaud said the proposed reforms seek to strengthen the Sexual Offences Act by addressing legislative gaps and establishing a National Sex Offender Database.
“This is a pivotal piece of legislation and a moral and legal obligation to protect the most vulnerable in our society,” Dr Persaud said.
She noted that the proposed amendments were informed by nationwide consultations and include updated legal definitions, stronger victim privacy protections, provisions for digital and visual evidence, greater accountability in reporting by healthcare workers and police, and the establishment of a National Sexual Offences Task Force.
“It is time to move this piece of legislation to close those gaps and inadequacies and to close them with robust, modern and uncompromising measures,” the minister told the National Assembly.
