In its 2002 & Beyond Strategy Document, BFSB reflects on how the financial services industry must continue to evolve to maintain its position in the international financial services arena. Focusing on the key issues of service, education, communication, and development, the organisation is highlighting the considerable opportunities existing for The Bahamas as a provider of international financial services.

CEO and Executive Director Wendy C. Warren says that the message BFSB has been delivering to intermediaries abroad, quite simply, is:

***”The Bahamas is one of the most developed financial centres in the world with a progressive regulatory and strong supervisory infrastructure. It is dedicated to maintaining international professional standards that will retain the confidence of the international community and attract legitimate, sound business.”***

The significant strengths of The Bahamas make it superior to many other jurisdictions:

* Confidentiality
* Tax neutrality
* A large, skilled labour pool
* Adherence to best international practices
* A modern legal framework
* Progressive legislation
* Strong public and private sector dialogue
* A strengthened regulatory and supervisory infrastructure
* Full-service jurisdiction

The Rt. Hon. H.A. Ingraham, Prime Minister of the Bahamas, confirms that The Bahamas is well on its way to protecting its financial services sector from the threats that, over the past two years, seemed poised to cripple the nation’s second most important industry. At a public address in January, he stated: *”A long-standing threat is now behind us, and the inevitable reshaping of international financial services has already begun. Safeguarding the future of the financial sector is a major task, and one which I believe we are well on the way to settling.”*

Expressing confidence in the development of the financial services industry, the Prime Minister further said: *”It is very likely that the emerging activity will be considerably more sustaining and less open to the criticism of the natural critics of offshore centres. Undoubtedly, fresh issues will arise, but I am confident that we will be able to deal with them as capably in the future as we have done in the past”.*