Industry News

Expanded Role for Central Bank of The Bahamas The Prime Minister of The Bahamas has announced that the Governor of the Central Bank will have his powers expanded in terms of deciding which companies transact trust and banking business in The Bahamas. That is, the Governor will have the authority to deny bank and trust … Read More

NASSAU, The Bahamas – Prime Minister the Rt. Hon. Hubert A. Ingraham met Wednesday with representatives of the financial services sector in his and his government’s continuing consultation with the sector as the government formulates and implements The Bahamas’ response to the unfavourable listing of its financial services sector by the G-7 Financial Stability Forum … Read More

The Securities Industry Regulations, 2000 have been signed into law by the Minister of Finance, were gazetted on July 17th, and are now in effect. A Public Notice published on August 10 advises the public that companies and persons engaged in certain aspects of the securities business, either in or from The Bahamas, are required … Read More

BFSB Sub-Committee to Develop Recommendations To Ensure Industry’s Long Term Competitiveness The Bahamas Financial Services Board (BFSB) has confirmed the establishment of a Strategic Development Committee which is actively engaged in evaluating and developing responses to the broad range of issues raised by the Financial Stability Forum, the Financial Action Task Force, the FinCEN Advisory … Read More

International Financial Centre The Government is committed to enhancing the image of The Bahamas as an international financial centre. To this end, the Government will: – maintain The Bahamas as a leading financial services centre; – monitor all developments in the international financial markets and amend any rules, regulations or legislation that would preserve and … Read More

Bank Confidentiality In response to concerns by the international financial community that bank secrecy laws of offshore jurisdictions are being abused by international criminal elements, the Bahamas Government has announced that it is not likely to “shed its bank secrecy laws” — but will not tolerate abuse of its financial services system. Bank secrecy laws … Read More

“The Bahamas plans to maintain its international reputation as a clean, well regulated jurisdiction, hostile to money laundering or any other financial crime” Governor-General Sir Orville Turnquest, Speech From The Throne, March 29 Opening of Parliament “The Bahamas is poised to deliver sophisticated services during a critical and demanding new era for the global financial … Read More

The Chart above provides an overview of the current state of the Industry

Coming in April 2000 The Bahamas Financial Services Guide: A definitive handbook on all financial and related services, this BFSB publication will be a complete reference guide of information, written and compiled by practitioners in the industry. It will provide industry companies the opportunity for promotion through a medium with broad international reach and appeal.