– by Celestine Juan

Finance Minister Dr. Ashni Singh is encouraging Guyanese to embrace the shift towards digital banking and prepare for a future where cashless transactions are expected to become increasingly common.

Speaking on the government’s cash grant distribution, Dr. Singh revealed that thousands of Guyanese have already benefited from the digital registration process, receiving payments directly into their bank accounts.

“More than 400,000 persons got their cash grants without leaving their homes, just signing up digitally online on their phone, putting in their bank account information and getting their cash grant credited to their bank account,” he said.
The Minister described opening a bank account as a one-time effort that could provide lifelong convenience, particularly as more government services, salaries, pensions, cash grants and everyday transactions become digitally accessible.

We’re rolling out a digital payment platform, similar to what India has, the UPI platform, which is going to allow people to make transfers everywhere you go. You’ll be able to make payments, you’ll be able to go to the market, pay your taxi, pay your coconut water vendor, pay your market vendor, pay your supermarket, your corner shop, just using a QR code on your phone,” he explained.
The Minister acknowledged that opening a bank account may be inconvenient for some, but said government has introduced simplified banking guidelines, while several commercial banks now offer online applications.Dr. Singh said government’s broader financial inclusion drive is aimed at ensuring that every Guyanese understands and has access to banking services, financial products and investment opportunities.