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
Industry 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
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
VIDEO: Bahamas Financial Services Minister Speaks Out
2018/2019 Budget Communication by the Minister of Finance
Delivered to the House of Assembly on Wednesday, May 30th, 2018 by Hon. K. Peter Turnquest, MP, Minster of Finance and Deputy Prime Minister. Download PDF
The FINANCIAL TRANSACTIONS REPORTING ACT, 2018 and PROCEEDS OF CRIME ACT, 2018 were passed by Parliament
The FINANCIAL TRANSACTIONS REPORTING ACT, 2018 AND PROCEEDS OF CRIME ACT, 2018 were passed by Parliament and came into force on Friday May 15th, 2018. FINANCIAL TRANSACTIONS REPORTING ACT, 2018 AND PROCEEDS OF CRIME ACT, 2018 Appointed Day Notice – POCA & FTRA.May 25, 2018
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
Financial Services Regulators to Host AML/CFT Risk Management Conference
The Central Bank of The Bahamas has announced that it will host along with The Group of Financial Services Regulators of The Bahamas, The 2018 National AML/CFT Risk Management Conference. The Governor of the Central Bank of The Bahamas in making the announcement stated that “We at the Central Bank of The Bahamas are pleased … Read More