On August 29th, 2018 The Central bank issued new AML/CFT Guidelines for Supervised Financial Institutions (SFIs). These Guidelines incorporate both the mandatory minimum requirements of the AML/CFT laws of The Bahamas and industry best practices and are enforceable by virtue of regulation 8 of the Financial Intelligence (Transactions Reporting) Regulations 2001. All SFIs of the … Read More
BFSB News
FTRA Regulations 2018 & Appointed Day Notice
Please find attached the gazetted Financial Transactions Reporting Regulations, 2018 and the appointed day notice bringing the Regulations into operation on June 11th, 2018. Financial Transactions Regulations. 2018 FFT Regulations Appointed Day Notice
The Bahamas List of AEOI/CRS Exchange Partners
Please be advised that the Competent Authority has today released a list of the exchange partners for The Bahamas with respect to the Automatic Exchange of Information/Common Reporting Standard. Provided below for your information. It can also be accessed on the Bahamas Tax Reporting website: www.taxreporting.finance.gov.bs Click here to Download (PDF) Should you have questions please … Read More
Transformation of the Financial Services Sector: Education & Improved Ease of Doing Business
The Bahamas government is allocating resources to facilitate the transformation of the financial services sector. The 2018/2019 fiscal budget was passed in the House of Assembly on June 18th, 2018. In his contribution to the budget debate to the Bahamian Parliament, The Honourable T. Brent Symonette, the Bahamas Minister of Financial Services, Trade & Industry … Read More
2018/2019 Budget Communication by the Minister of Financial Services, Trade & Industry, and Immigration
Minister Brent Symonette 2018-2019 Budget Contribution delivered Wednesday, 13th June, 2018
VIDEO: Bahamas Financial Services Minister Speaks Out
The Bahamas is officially off the EU List
Technical working group demonstrated excellent coordination and cooperation leading to positive outcome for The Bahamas Source: Ministry of Finance (MOF) Author: Central Communications Unit (CCU), MOF Date: May 25, 2018 Contact: MOFComms@bahamas.gov.bs The Bahamas was removed from the European Union’s (EU) list of Non-Cooperative Jurisdictions for Tax Purposes following a positive technical recommendation from the … Read More
BFSB and Graham Thompson Host Industry Development Series II
The Bahamas Financial Services Board in collaboration with member firm Graham Thompson, Counsel and Attorneys – at- Law, hosted a workshop on International Initiatives Impacting the Financial Services Sector as a part of its Industry Development Series II at the British Colonial Hilton om Thursday May 17th, 2018. Opening remarks were given by the Attorney … Read More
Bahamas Financial Services Board Attends Trust Conference in Barbados
The Bahamas Financial Services Board attended the annual Society of Trust and Estate Practitioners (STEP) Caribbean Conference in Bridgetown, Barbados May 7th -9th under the theme “Fast Forward: Future Thinking.” STEP is the global professional association for practitioners who specialise in family inheritance and succession planning. The organisation works to improve public understanding of the … Read More
Bahamas Financial Services Board And The Insurance Commission Of The Bahamas Board Attend “RIMS” 2018 In Texas
The Bahamas Financial Services Board attended the annual Risk Management Society (RIMS) conference under the theme “Go Big or Go Home” in San Antonio, Texas on April 16th-19th. The RIMS annual conference and exhibition is the premier event for the risk management and insurance community. There were over ten thousand delegates from around the world … Read More