Commonwealth Bank plans to launch an IPO of three million shares in early April, as part of the bank’s 40th anniversary celebrations. Minimum subscription has been tagged at 50 shares, and CB anticipates that at the close of the offering at least 3,000 more Bahamians will have the satisfaction of ownership.
Oceanic Bank and Trust recently opened an office in Freeport — in the new First Commercial Centre. This second office is headed by Andre Feldman, who points out that the potential of Freeport is being realised — with the increasing need for prudent asset management, private banking, trust and estate management. The Nassau office of … Read More
The Bahamas International Securities Exchange has announced that the Securities Commission of the Bahamas and the Central Bank of the Bahamas have approved its Founding Shareholders. An Extraordinary General Meeting of the shareholders (numbering 43) was held on Wednesday, March 22, 2000. CEO Brian Taylor stated that BISX now finds itself at the beginning of … Read More
The recently-released Annual Report of the International Narcotics Control Board (INCB) took note of the efforts of Governments in the Caribbean to work together to reduce money-laundering and tax avoidance in their financial centres. Of special note was the Board’s report that the judicial system in The Bahamas has been improved to speed up the … Read More
The Bahamas has challenged this Report, telling OECD Officials that the Report lacks balance and discriminates against countries whose tax regimes are unilaterally declared by the OECD to be harmful. The Bahamas’ reaction is one of the first challenges to the OECD’s legitimacy in making its allegations. The Bahamas told the OECD that it is … Read More
The Chart above provides an overview of the current state of the Industry
A Bill for The Telecommunications Act was introduced in the Parliament at the end of 1999 and passed early in the New Year. The Act will create a new legal regulatory framework for telecommunications in The Bahamas, remove the monopoly rights of the Bahamas Telecommunications Corporation (Batelco) and establish a licensing regime for telecommunications. This … Read More
The BFSB Y2K plan is available for download as an Acrobat PDF file. Click the link below to download the document.
The year end report for 1999 is now available for visitors to download. The file is in Acrobat PDF format and can be downloaded using the link below.
As a direct result of recent initiatives by the OECD on harmful tax competition, the Caribbean Financial Action Task Force has appointed a Working Group to address relevant issues. In addition to The Bahamas, the Working Group comprises representatives from Barbados, the British Virgin Islands, Cayman Islands, Jamaica, and Panama. Established in the early 1990s, … Read More