A KYC Working Group in Switzerland has drafted an ordinance on behalf of the Swiss Federal Banking Commission, calling for stricter, risk-based due diligence on politically exposed persons and tougher … Read More
Author: @BahamasFSB
IMF: Ongoing Process of Change
Addressing the Treasury Select Committee in the House of Commons, London, last week, the Managing Director of the International Monetary Fund confirmed that the IMF is in the *”process of … Read More
The Bahamas Economy
Despite the decline in economic growth during 2001, there was no aggregate loss of employment in the financial services sector and, in fact, the sector’s contribution to the gross domestic … Read More
Anti-Money Laundering Regime
##December 31, 2002 Deadline for KYC## The Government of The Bahamas, in response to requests from the nation’s financial service providers and in recognition of industry’s commitment and efforts to … Read More
Central Bank Warning Notice
##Public Alert## The companies listed below are not licensed to conduct banking and/or trust business in or from within The Bahamas * **Alpha Credit Union, 51 Frederick Street, P.O. Box … Read More
International Relations
In a recent presentation to the Grand Bahama Chamber of Commerce, H.E. Peter Heigl addressed a number of issues, including world trade development and liberalisation, international terrorism, and multinational co-operation. … Read More
Caribbean Community (CARICOM) Talks
This past weekend Prime Minister Christie and the rest of the Bahamas delegation returned to Nassau from Guyana. They had been participating in the 23rd Conference of CARICOM Heads of … Read More
Central Bank Warning Notice
**Public Alert**. The companies listed below are not licensed to conduct banking and/or trust business in or from within The Bahamas:- **– Alpha Credit Union — — Crubank Corporation — … Read More
Appeal Court Restores Freezing Powers for FIU
The Court of Appeal in The Bahamas has ruled that the ability of the country’s Financial Intelligence Unit (FIU) to issue freeze orders is not unconstitutional and that it may … Read More
The Bahamas: Competitive Position and Client Confidentiality Intact
International initiatives relating to anti-money laundering regulations and the so-called “harmful tax practices” have seen financial service providers around the world subjected to increased due diligence, document transparency and acceptance … Read More