BFSB wishes to extend to its growing number of international associates and to its member firms its very best wishes for 2008.

Growth and development will continue to be the focus for the financial services industry in The Bahamas in 2008. BFSB looks forward to working with its international and local partners in the year ahead on the many development projects underway in the jurisdiction, as well as the promotional programmes which are scheduled for 2008.

Key projects in 2008 include regulatory reform, the External Insurance Act and the Securities Industry Act, which will help solidify The Bahamas as a leading international financial centre.

The past year has been one of many significant developments: the introduction of Private Trust Companies, important amendments to Purpose Trust and Foundations legislation, the completion of a comprehensive Economic Impact Study for Financial Services in the country, and the short listing of The Bahamas for a major STEP Award.

Close and ongoing dialogue between the public and private sector remains a fundamental strength for the sector. Both had the opportunity to share thoughts on the industry’s development and priorities at the fifth annual Bahamas Financial Services Industry Retreat which took place in Marsh Harbour, Abaco on January 18 to 20. More than 100 participants from all industry stakeholder groups participated in the Retreat, strongly reinforcing the partnership philosophy that exists in the jurisdiction.