**Vincent Peet, M.P.
Minister of Financial Services & Investments**
Minister Peet has announced the Bahamas Government’s renewal of a mandate for the Financial Services Consultative Forum (FSCF), a private sector group that advises and lobbies the government on matters related to the financial services industry.
He points out that the government *”fully appreciates the benefits that are derived from this industry,”* quoting Central Bank of the Bahamas statistics on the contribution of the banking and trust sector, only one of the many components of the sector.
Attorney Brian Moree has been reappointed Chairman of the FSCF. Acknowledging the present contribution, he also urged that the potential for growth in the industry not be overlooked. He said he was of the (personal) view that the financial services industry has the potential to be a much larger sector in The Bahamas, thereby *”making an even greater contribution to our gross domestic product, employing many more people in this country, stimulating considerable growth in related service based professions, and generally enhancing the quality of life of thousands of Bahamians.”*
The FSCF was appointed in December 2002, to institutionalise the consultation process already in place between the public and private sector with regard to financial services development.
The Ministry of Financial Services and Investments says the mandate of the FSCF is to advise the MFSI and the Government on the state of the financial services sector, the impact of competing jurisdictions and to recommend strategies, legislation and products to better position The Bahamas as a cutting edge blue chip financial centre.