Following discussions at its 2005 Financial Services Retreat, and in response to the growing competitiveness of the international financial services industry, BFSB has worked with the Ministry of Immigration, Labour and Training (“MILT”) to develop a framework for financial services. The framework was circulated to members for review earlier this month.

Two primary “financial services industry” contacts have been appointed within the Department of Immigration, with the turnaround period for the processing of completed FSI work permit applications now pegged at 6 weeks.

It is anticipated that this framework will be updated continually to meet changes and developments taking place in the industry. At this time BFSB is pleased to be in ongoing communication with the MILT in connection with a range of matters that affect the financial services industry.