In September 2019, the Bank of Guyana blocked Republic Bank Financial Holdings' purchase of Scotiabank's operations in Guyana. In December 2019, the Bank of Guyana became the managing body of the country's first sovereign wealth fund. Five months later, the fund received its first royalty payment of US$4.9 million from offshore oil production. In October 2020, the Bank of Guyana chose to soften identification requirements by commercial banks for individual account holders to open and maintain accounts, admitting that the previous requirements were too strict.
