Speaking at The Rotary Club of East Nassau (RCEN) on Friday July 16th, BFSB’s CEO and Executive Director Tanya McCartney outlined the evolving nature of The Bahamas’ Value proposition, and emphasized the need to invest in the infrastructure that will improve the private sector’s ability to win financial services business and assist in the effective management of the regulatory and reputational risks that threaten The Bahamas as an international financial centre for the long term.
The CEO shared with the members of RCEN views on the value proposition for The Bahamas as an international financial centre moving forward, including market opportunities that the organization will be focusing on and the key drivers considered essential to achieve success and mitigate regulatory and reputational risk.
Presented were key conclusions from a BFSB Strategy Conclave held earlier this year, which had been structured to review “The Bahamas Advantages” that have driven BFSB’s strategic planning and jurisdictional marketing.
Moving forward, she said, four vital features will be at the heart of what will distinguish and reposition The Bahamas as an international financial centre of significance in the years to come. These are: Regulation, Expertise, Innovation and Location. *“Everything that comprises The Bahamas’ value proposition and continued success as a leading international financial services centre must be guided by these distinguishing factors. They are essential factors as we strive to move away from the label of ‘tax or offshore haven’ to an ‘international financial centre’ seen as being on par with onshore financial centres.”*