Guam

Financial Institutions

• Banks: 3
  • Bank of Guam
  • Bank Pacific, Ltd
  • ANZ Guam, Inc.
• Credit Unions: 2
  • Coast360
  • Community First Guam

Guidance

• Cannabis Control Board Meeting Minutes (7/30/20)
  • Excerpts from Q&A with Insurance, Securities, Banking & Real Estate Branch, Regulatory Division, Department of Revenue & Taxation
    • Mariano: “We are still not able to accept deposits from the cannabis industry. we have been asking to see if we could get a copy of your draft rules and regulations. So that we can see how we could apply or even begin to assess the risks associated with the cannabis industry here in Guam.”
    • Mariano: “The networks currently do not allow the use of credit and debit cards, through their networks.”
    • Elm: “And we have been following the California legal framework for a while. […] Basically, the bank has to build their enhanced due diligence framework and the platform, the main framework would be licensing. If the government of Guam can allow the bank transparency to be able to validate licenses…”
    • Elm: “… for banks, there is no actual reference document that tells us, ‘if you’re going to bank a marijuana related business, make sure you do from a to z in regards to your AML (Anti-Money Laundering) program.'”