Education & Training

Education & Training, Industry News

Planning for The Bahamas International Arbitration Centre

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The Ministry of Financial Services today hosted a Practitioners Dialogue 101 Luncheon/Lecture entitled “International Arbitration & Its Benefits for My Practice”. Guest speakers were Professor Jan Paulsson, Consultant at the Ministry of Financial Services, and Attorney Clyde Lea. Professor Paulsson addressed the question of how arbitration benefits law practices, while Attorney Lee provided a debriefing on a market research survey questionnaire for potential end users of The Bahamas International Arbitration Centre. The findings of the questionnaire will be used to formulate a roadmap for the development of the Centre. The Hon. C.V. Hope Strachan, M.P., Minister of Financial Services, said her Ministry is committed to ensuring that a strategic and comprehensive capacity building programme for The Bahamas International Arbitration Centre is firmly entrenched in the National Development Plan. Professor Paulsson, a pre-eminent scholar and world renowned international arbitrator, is providing guidance in areas such as sustainable in-country training for professionals. Also reported were steps being pursued to enact the United Nations Commission on International Trade Law (UNCITRAL) Model Law on International Commercial Arbitration. Such will enable this jurisdiction to harmonize its international commercial arbitration regime with other countries and different legal and economic systems. *”We believe that establishing The Bahamas as a major international arbitration hub, will not only complement our legal profession, but also our financial services, maritime services, foreign direct investment projects, and international business initiatives,”* said Minister Strachan. Earlier this month, the Minister of Foreign Affairs, The Hon. Frederick Mitchell, along with MoFS Consultant Bertha Cooper-Rousseau met with H.E. Hugo Sibliesz, Secretary General of the Permanent Court of Arbitration, to discuss The Bahamas becoming a State Member of the Permanent Court of Arbitration. *“I am pleased to advise that we are in the advanced stages of satisfying the necessary procedural steps towards this end*”, said Minister Strachan. She continued, *“We are also undertaking steps for The Bahamas to become a host country for Permanent Court of Arbitration-administered hearings based in the region. This would be an honour for The Bahamas and would significantly boost its profile within the international arbitral community.”* **Upcoming Events** In keeping with its efforts to provide comprehensive and cutting edge training on international arbitration to professionals in The Bahamas, the Ministry of Financial Services has invited the Principal Legal Officer of UNCITRAL to conduct a lecture and technical workshop on the impact of the Model Law and the development of The Bahamas International Arbitration Centre. This will be held on 13th & 14th November. Additionally, at the 1st October meeting referenced earlier, the Secretary General of the Permanent Court of Arbitration expressed a keen interest in joining other international arbitration institutions in facilitating training programs for young professionals during The Bahamas Arbitration Week in March, 2016. Minister Strachan concluded her remarks at the lecture today by noting that her Ministry is determined to make considerable efforts to enhance a conducive environment for financial services and investment. *“We must look towards a future whereby The Bahamas will become a jurisdiction that will provide legal and arbitration services to the region. We have a phenomenal amount of opportunities at our doorstep and we will do well to embrace each and every one before they are seized by other jurisdictions in the region.”*

BFSB News, Education & Training

Language Cadets Interact with Native Speakers

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Today was the launch of the 8-month Language Cadet Programme offered as part of the financial services industry’s [“Towards a Bilingual Bahamas”](http://www.bilingualbahamas.com/#tabb) initiative being hosted in collaboration with the Ministries of Education and Financial Services, along with private sector partners. The Cadets from across schools in New Providence are meeting at C.I. Gibson Sr. High during October and thereafter will meet at the Ministry of Education’s Headquarters on Thompson Boulevard. The programme was [launched](https://bfsb-bahamas.com/download.php?cmd=view&id=2836&pre=y) on August 26. *Pictured is Ivan Hooper from sponsor firm The Winterbotham Trust Company addressing Cadets on the importance of language learning in today’s global environment. He also spoke to the students on his experiences in Spain, Peru and Uruguay.* *The photo below shows some of the Language Cadets with BFSB CEO Aliya Allen, the Ministry of Education’s Donella Davis who serves as Project Coordinator for the Rosetta Stone Language Learning programme, and Mario Maldini of The Winterbotham Trust Company. Mr. Maldini also is a feature speaker for sessions later in the programme. Also pictured are some of the teachers supervising the Cadet Programme.*

BFSB News, Education & Training, Industry News, Newsletter

BFSB & PartnersTeam Up with Rosetta Stone to Expand Language Learning Programme

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The Bahamas Financial Services Board and the Ministry of Financial Services last month partnered with the Ministry of Education and language learning programme Rosetta Stone Inc. (NYSE:RST) to introduce a pilot programme within public junior and senior high schools throughout The Bahamas. The programme started in September and will continue through to the end of the 2015-2016 school year. Rosetta Stone is a recognized industry leader in technology based language and literacy solutions and is used by millions of individuals and thousands of schools, businesses, and government organizations around the world. Rosetta Stone already has been proven effective in helping members of BFSB improve language proficiency since the programme was made available to its member firms over three years ago. *“Ideally positioned at the crossroads of the Americas, The Bahamas has benefitted from its many natural advantages. However, a key ingredient of its success has been and always will be found in the capacity of its people,”* says BFSB CEO Aliya Allen. *“As we seek to expand economic opportunities for Bahamians we have to ensure that we are ready to participate in a global job market that is demanding, exacting and highly competitive. Language learning is critical to achieving this goal and we’re thrilled to continue working with Rosetta Stone to help expand their programmes to students in our country.”* Minister of Financial Services, the Hon. C.V. Hope Strachan, M.P., said bilingual employees are immediately more marketable and can command as much as 10% to 15% more in compensation just by virtue of the skill. She says this is not a phenomenon confined to the financial services sector; tourism, manufacturing and retail, for example, all benefit from the ability to converse with customers in their language. According to Minister Strachan, *”Language skills are now a critical requirement for professionals in the financial services sector. Therefore, we must ensure that our professionals are well-equipped to compete with their global counterparts.”* The Hon. Jerome K. Fitzgerald, Minister of Education, Science and Technology acknowledges that having a second language will indeed make students more marketable. *“We are preparing our public school students to be globally competitive and having acquired proficiency in a foreign language will position them to not only qualify for jobs locally but internationally, even through work exchange programmes. As we position our students for the future, it is my hope that we create the framework and environment within our public schools where fluency in a second language becomes the norm. Coupled with strong academic skills in core subjects, a second language would set them on a path for global competitiveness.”* BFSB started its own Language Learning Initiative in 2012 with the launch of a Livemocha programme which then transitioned to Rosetta Stone when Livemocha was acquired by the brand in 2013. Almost 500 financial services learners have participated in theprogramme, including the 130 in 2015, demonstrating keen interest in expanding their knowledge of a foreign language and eventually gaining fluency. Ms. Allen says the High School programme, a part of the organisation’s *“[Towards a Bilingual Bahamas](http://www.bilingualbahamas.com/#tabb)”* initiative, was created in recognition of the importance of starting this process earlier with persons who have not entered the job market yet. *“It is a small but important start to achieving the vision of a Bilingual Bahamas.”* Working with Rosetta Stone, BFSB developed the pilot programme which was accepted by the Ministry of Education. The programme will enable 200 learners from schools around The Bahamas to begin a 9-month programme utilizing Rosetta’s K-12 learning software. It will include a Language Learning Cadet Programme that will engage industry practitioners in interacting with the students and teachers. Various industry associations and corporate sponsors are supporting the programme including the Association of International Banks & Trust Companies in The Bahamas, Bahamas Association of Compliance Officers, Bahamas Institute of Chartered Accountants, Callenders & Co., CFA Society The Bahamas, Insurance Institute of The Bahamas, Julius Baer Bank & Trust and The Winterbotham Trust Company.

Education & Training, Industry News

Financial Services Professionals Must Remain Relevant in An Ever-Changing Environment

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Minister of Financial Services, the Hon. Hope Strachan, M.P. was the keynote speaker during the opening ceremony of the [Bahamas Institute of Financial Services](http://www.bifs-edu.com/) (BIFS) Caribbean Regional Conference yesterday. The two-day conference is being held at the British Colonial Hilton September 16-17 under the theme *“Enhancing Professionalism in Financial Services through Innovation, Education and Confidence.”* The Minister urged practitioners in the financial services sector to continue to pursue education and training in order to remain competitive. She said given the important role of financial services in the Bahamian economy, it is incumbent for professionals to remain relevant in an ever-changing environment. *“I cannot emphasize enough the importance of The Financial Services Industry to the economy of The Bahamas,”* said Minister Strachan. *“The sector accounts directly for 15% of the GDP of our country, second only to the tourism sector in terms of economic impact. It also employs the largest segment of highly skilled workers and offers a diverse range of job opportunities and professions for individuals who desire to pursue a career in the financial services.”* The Minister said that these job opportunities range from entry-level, supervisory, middle management positions to executive management. With such a vast range, the Minister said that today’s financial services sector professionals must first recognize that it cannot be ‘business as usual.’ She said: *“The substance or basis for a career or profession in the financial services industry is a quality education. It might well sound cliché but education is “the key.” Apart from the obvious need to ensure that we make the most of our high school education I believe that it is fair to say that tertiary education is critical to a successful career or profession in Financial Services. It is important not only to your career but also to your own personal development.”* Minister Strachan congratulated BIFS for its many contributions to the continued professional education of persons in financial services, taking note of the wide array of courses offered, including compliance and anti-money laundering, trusts and estate planning, risk management, and executive leadership. *“BIFS has partnered with a number of leading international educational institutions to offer these courses. I further applaud BIFS for establishing the G-12 programme for students entering grade 12 to follow a seven-month, four (4) module program to study business calculations and computers, economics, financial institutions and ethics. The programme also affords them the opportunity to visit a financial institution to explore and learn about its operations. I note that over 100 students have graduated since the programme was launched in 2008,”* she said. The Bahamas was selected amongst Caribbean counterparts as the country in which to establish the Centre for Excellence, along with Barbados, primarily because of the progress already made in providing education in financial services as well as this jurisdiction’s infrastructure and technology. The Minister also took the opportunity to commend the [Association of International Banks and Trust Companies in The Bahama](http://aibt-bahamas.com/)s (AIBT) for its language immersion programme. Other educationally-focussed strides in the sector include the [Towards a Bilingual Bahamas](http://www.bilingualbahamas.com/#tabb) (TABB) programme under which the Ministry of Financial Services has partnered with the [Bahamas Financial Services Board](https://bfsb-bahamas.com) (BFSB) and [The Ministry of Education](http://www.bahamaseducation.com/) to introduce The [Rosetta Stone](http://www.rosettastone.com/k12) Language programme within Public High Schools, with a pilot programme launched at this beginning of this school year. The initiative also is supported by a number of Professional Industry Associations and BFSB member firms. *“This programme is being offered to 200 learners, and the top performing students will have the opportunity to visit either a Spanish-speaking or French-speaking country for language immersion”*, said Minister Strachan. She said the Ministry supports these initiatives, recognizing that the future for financial services, and indeed for The Bahamas, lies within our youth. *“History shows that this is the best investment that a country can make.”*

BFSB News, Education & Training, Industry News

BFSB and Sponsors Announce the 2015 Financial Services Student of the Year Award

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BFSB’s programme to recognise an outstanding graduating student from within the School of Business, College of The Bahamas is now in its 14th year. The initiative has been a joint venture of BFSB and the Professional Industry Association Working Group (PIAWG), comprising representatives from FSI industry associations. This recognition programme is part of BFSB’s Financial Services Industry Excellence Programme, which also profiles outstanding professionals and executives within the sector. The student award is an Investment Account, complete with Investment Management Services. BFSB is pleased to announce that the Association of International Banks & Trust Companies in The Bahamas (AIBT) along with CFAL have come on board again this year as sponsors of the award, with cooperating support from Societe Generale Private Banking (Bahamas) Limited. A Sub-Group from the College of The Bahamas submits the initial list of candidates, based on established criteria such as GPA, along with College and Community involvement. An Industry Panel undertakes responsibility for interviewing each of the short-listed candidates, and to judge written submissions. The interviews and judging are in the final stages now, with the 2015 Student of the Year slated to be announced for the first time at BFSB’s 2015 Industry Awards Gala Dinner, scheduled for November 20 at Atlantis Paradise Island. *Photo Caption: 2015 FSI Student of the Year Sponsors. Left to right are Patti Bain, Societe Generale Private Banking; Pamela Musgrove, CFAL; Sophia Thurston, CFAL; Shira Newbold, AIBT; Anastacia Johnson, AIBT; and Fredricka Bowe, BFSB.*

BFSB News, Education & Training, Industry News

FSI Student of the Year Candidate – Robert G. Nicolas

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Below is the final of the six (6) candidates for the 2015 Student of the Year Award. Click [here](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) for background on the annual award. ##Robert G. Nicolas – BBA Economics & Finance## Robert graduated from the College of The Bahamas in 2015 with a Bachelor’s Degree in Economics and Finance. He was the recipient of the Livingstone Evans Memorial Award for Economics and Finance and the CFA Society of The Bahamas’ Top Student in Finance Award. He is passionate about the development of others and found the best way for him to serve his peers was to become a tutor. He acted in this capacity full time for one year in the College’s peer tutoring program, then part time in his junior and senior years after he began professional employment. He earned a reputation for his ability to help students grasp the material, patience and willingness to accommodate the scheduling demands of students. He hopes to return to the classroom in the future as a lecturer. Robert currently is employed as an Assistant Trust Officer at Cititrust (Bahamas) Limited. He intends to return to University in the spring to continue studies in French ahead of beginning his studies for the Series 7. Other Candidates: [Akini O. Morris](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) [Dashanique E.A. Moss](https://bfsb-bahamas.com/news.php?cmd=view&id=3443&pre=y) [Dava A.B. Bullard](https://bfsb-bahamas.com/news.php?cmd=view&id=3444&pre=y) [Felicia Leann Albury](https://bfsb-bahamas.com/news.php?cmd=view&id=3445&pre=y) [Robbyn N. Thompson](https://bfsb-bahamas.com/news.php?cmd=view&id=3446&pre=y) Other Links: [Sponsors](https://bfsb-bahamas.com/news.php?cmd=view&id=3425&pre=y) [Industry Awards Programme](https://bfsb-bahamas.com/news.php?cmd=view&id=3421&pre=y)

BFSB News, Education & Training, Industry News

FSI Student of the Year Candidate – Dashanique E. A. Moss

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Below is the fifth of six (6) candidates for the 2015 Student of the Year Award. Click [here](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) for background on the annual award. ##Dashanique E. A. Moss – BBA Accounting ## Dashanique graduated from the College of The Bahamas in 2015 with a Bachelor’s Degree in Accounting with Distinction and is currently employed as a Reconciliation Specialists at CFAL. While at the College of The Bahamas, Dashanique has been on the Dean’s/President’s List and has played an active role in tutoring her fellow peers whenever she was needed. She was also the recipient of the Chamber of Commerce Award for Academic Excellence in May 2015. Dashanique graduated from Crooked Island High as Valedictorian and Head Girl in 2009, and was also the recipient of the Seahorse Shores Scholarship Award. During her time as a student of Crooked Island High, she has held several leadership positions including President of the Girl’s Club and Sports House and has always been a well-rounded student. She is currently reviewing to sit the Uniform Certified Public Accountant Exam (CPA), after which she intends to pursue International Business at the Graduate level. Other 2015 SOTY Candidates: [Akini O. Morris](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) [Dava A.B. Bullard](https://bfsb-bahamas.com/news.php?cmd=view&id=3444&pre=y) [Felicia Leann Albury](https://bfsb-bahamas.com/news.php?cmd=view&id=3445&pre=y) [Robbyn N. Thompson](https://bfsb-bahamas.com/news.php?cmd=view&id=3446&pre=y) [Robert G. Nicolas](https://bfsb-bahamas.com/news.php?cmd=view&id=3447&pre=y) Other Links: [Sponsors](https://bfsb-bahamas.com/news.php?cmd=view&id=3425&pre=y) [Industry Awards Programme](https://bfsb-bahamas.com/news.php?cmd=view&id=3421&pre=y)

BFSB News, Education & Training, Industry News

FSI Student of the Year Candidate – Robbyn N. Thompson

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Below is the fourth of six (6) candidates for the 2015 Student of the Year Award. Click [here](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) for background on the annual award. ##Robbyn N. Thompson – BBA Economics## In May 2015, Robbyn graduated from the College of The Bahamas (COB) with a Bachelor’s of Business Administration in Economics, with distinction. She was also the recipient of the Sir William Allen Award for Economics. During her years in college, she performed integral roles within the School of Business. In particular, she served as the 2014-2015 Senator for the School of Business under the College of The Bahamas Union of Students (COBUS) and represented the Economic Society at numerous presentations and forums. Robbyn is a proud alumna of St. Augustine’s College (2011) where she honed her leadership and interpersonal skills, serving as Vice President of the Student Council body, President of the Speech and Debate Club and Captain of the Leonard House. In her sophomore year at COB, at the age of 18, Robbyn developed a passion for hair extensions which led to the beginning of her unique line of virgin remy extensions: Good Hair. To this day, Robbyn is currently working on expanding her brand along with pursuing her Masters degree in January 2016. Keeping God first and everything else after, she remains steadfast to her belief that “she who kneels before God can stand before anyone”. Other Candidates for 2015 SOTY Award: [Akini O. Morris](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) [Dashanique E.A. Moss](https://bfsb-bahamas.com/news.php?cmd=view&id=3443&pre=y) [Dava A.B. Bullard](https://bfsb-bahamas.com/news.php?cmd=view&id=3444&pre=y) [Felicia Leann Albury](https://bfsb-bahamas.com/news.php?cmd=view&id=3445&pre=y) [Robert G. Nicolas](https://bfsb-bahamas.com/news.php?cmd=view&id=3447&pre=y) Other Links: [Sponsors](https://bfsb-bahamas.com/news.php?cmd=view&id=3425&pre=y) [Industry Awards Programme](https://bfsb-bahamas.com/news.php?cmd=view&id=3421&pre=y)

BFSB News, Education & Training, Industry News

Language Learning Pilot Programme Launched in High Schools

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The Bahamas Financial Services Board, the Ministry of Financial Services, the Ministry of Education, and Rosetta Stone today [launched](https://bfsb-bahamas.com/download.php?cmd=view&id=2836&pre=y) the [“Towards a Bilingual Bahamas”](http://www.bilingualbahamas.com/#tabb) (TABB) initiative – a pilot programme on language learning within public high schools. Joining with the sponsors at a Media Briefing today were the private sector sponsors who partnered with BFSB to develop and introduce the pilot. TABB has enrolled 200 learners from public high schools across The Bahamas, at Junior and Senior High levels. It will include in school and after school components, as well as a Language Learning Cadet Programme. The Cadets will focus on interactions with Spanish and French native speakers and indoctrination in Spanish/French culture and customs. The goal is to turn a working programme over to the MoE on completion of the pilot, for incorporation into the Ministry’s language learning curriculum. Sponsoring firms and associations include The Winterbotham Trust Company, Julius Baer Bank & Trust Bahamas Ltd., Association of International Banks & Trust Companies in The Bahamas, Bahamas Association of Compliance Officers, Bahamas Institute of Chartered Accountants, Callenders & Co., CFA Society The Bahamas, and the Insurance Institute of The Bahamas.

BFSB News, Education & Training, Industry News

FSI Student of the Year Candidate – Dava A.B. Bullard

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Below is the third of six (6) candidates for the 2015 Student of the Year Award. Click [here](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) for background on the annual award. ##Dava A.B. Bullard – BBA Accounting (with Spanish)## Dava graduated with the 2015 Class of the College of The Bahamas (COB) with a BBA in Accounting (Distinction) and a minor in Spanish. During her matriculation at COB, Dava was on the Dean’s/ President’s List, served as Secretary of the Rotaract Club of COB and was the 2013-2014 Rotaractor of the year. She also served as Secretary of CHMI Toastmasters 969479, Student Vice President of Sigma Alpha Pi Honour Society COB and received the Society’s Excellence in Service to Students Award and National Engaged Leader Award. She became a proud member of Alpha Kappa Alpha Sorority Inc., a member of four other societies/clubs and an attendee of the BICA YACHT Club. In 2009, Dava graduated from the all-girls, disciplinary, top academic institute, St. Joseph’s Convent Secondary School (SJC) in Saint Lucia with distinction, the Business, the Economic and the Outstanding Student awards. She was Public Relations Officer of SJC Young Leaders Club and Red Cross (Treasurer). Dava is employed with Ernst & Young Ltd. as a Staff Accountant, and currently is studying for the Uniform Certified Public Accountant Exam (CPA). She intends to pursue graduate studies in International Relations and Economics, to improve her Spanish fluency (immersion program) and to learn French. Other Candidates for 2015 SOTY Award: [Akini O. Morris](https://bfsb-bahamas.com/news.php?cmd=view&id=3442&pre=y) [Dashanique E.A. Moss](https://bfsb-bahamas.com/news.php?cmd=view&id=3443&pre=y) [Felicia Leann Albury](https://bfsb-bahamas.com/news.php?cmd=view&id=3445&pre=y) [Robbyn N. Thompson](https://bfsb-bahamas.com/news.php?cmd=view&id=3446&pre=y) [Robert G. Nicolas](https://bfsb-bahamas.com/news.php?cmd=view&id=3447&pre=y) Other Links: [Sponsors](https://bfsb-bahamas.com/news.php?cmd=view&id=3425&pre=y) [Industry Awards Programme](https://bfsb-bahamas.com/news.php?cmd=view&id=3421&pre=y)

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