Opposition leader Rabin Parmessar of Suriname’s National Democratic Party (NDP) has expressed serious concerns regarding the government’s decision to appoint an almost entirely new Foreign Exchange Commission. This development comes despite previous parliamentary consensus to align the commission with the Central Bank of Suriname (CBvS) to strengthen financial oversight.
The restructuring, initially implemented nearly two years ago, was specifically designed to regulate gold exports, monitor land sales through foundations, and address recommendations from the Caribbean Financial Action Task Force (CFATF) regarding money laundering and terrorism financing. Parmessar emphasized that significant progress had been made through collaborative efforts between parliament and the Central Bank, including the appointment of current chairman Arun Sankatsing through established channels.
While acknowledging the potential competence of proposed new members—including prospective chairman Robert Huiswoud and returning member Ravin Soerdjbalie—Parmessar warned that the overhaul could create opportunities for creative individuals with substantial interests in the gold sector to continue operations without proper oversight.
The NDP leader had previously urged authorities to maintain continuity by retaining some existing members and avoiding appointments of individuals representing powerful financial interests. He revealed that various measures had been implemented to strengthen financial supervision, particularly in the gold sector, including stricter requirements for notaries regarding money transfers and enhanced administration for gold companies.
Additional reforms included eliminating administrative backlogs, imposing stricter requirements on gold provenance and sales, and mandating that gold only be sold to certified companies with relevant data provided to the Foreign Exchange Commission. A new draft regulation, already approved by the Central Bank, awaits presentation to the Finance Minister.
Parmessar expressed surprise at the timing of these appointments, as completed reforms were scheduled for presentation to Finance Minister Adelien Wijnerman and President Chan Santokhi in January. He fears these developments could undermine months of progress and intends to raise these concerns with relevant authorities.