The Central Bank of The Bahamas is responsible for the licensing, regulation and supervision of banks and trust companies operating in and from within The Bahamas, pursuant to The Banks and Trust Companies Regulations Act, 200 and The Central Bank of The Bahamas Act 2000. Additionally, the Central Bank has the duty, in collaboration with financial institutions, to promote and maintain high standards of conduct and management in the provision of banking and trust services.

The Central Bank has published a Guide that sets out the procedures that it will generally follow when the Bank has cause for concern regarding the operations of a licensee or in the event of non-compliance by a licensee with applicable legislation, regulations, guidelines and directives of the Central Bank.

A release from the Regulator says the objective of this Guide is to promote awareness and enhance the transparency of the system of intervention for licensees and other interested parties. The Guide summarizes the circumstances under which intervention measures may be expected.

All licensees are expected to adhere to the Bank’s licensing and prudential requirements, ongoing supervisory programmes and regulatory reporting requirements, and are subject to periodic onsite inspections. Licensees are expected to conduct their affairs in conformity with all other Bahamian legal requirements.