The Bahamas retained its 4th place among specialized financial centres in The Banker’s annual ranking of international financial centres. Significantly, though, The Bahamas score increased by 27 per cent in the 2014 rankings as compared to last year.
The Banker magazine is part of the Financial Times Group, a globally recognised and respected finance publication and its IFC rankings are based on data ranging from financial markets indicators to economic potential to business environment factors. The ranking focuses on the level of international business and the value for institutions seeking to expand their international operations.
*“While we will never be satisfied until we achieve the top spot in The Banker’s rankings, the significant increase in our score indicates that The Bahamas has been taking positive steps to continue to enhance our business environment,”* said Aliya Allen, CEO and Executive Director, Bahamas Financial Services Board (BFSB).
Ms. Allen said the close private public partnership that exists within the Bahamian financial services community has been paramount in creating products and legislative initiatives that are gaining traction with the international business community.
*“Our innovation in products such as the Bahamas Executive Entity, Smart Funds and the recently introduced ICON is sending a clear signal that The Bahamas intends to remain a highly competitive international financial centre by proactively identifying and responding to market requirements and opportunities,”* she said.
BFSB currently is in advanced planning for its annual International Business and Finance Summit (IBFS) which has as its primary focus industry development to meet existing and emerging needs for the international community.