The Hon. Carl Bethel, Minister of Economic Development, commented on the increasing role of telecommunications companies in service-based economies such as The Bahamas as he reported on The Bahamas Government’s … Read More
Industry News
New Service Industry – Information Technology
Information Technology -Preparing to Compete in the Global Marketplace A worldwide survey conducted by PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI) earlier this year emphasised the importance the … Read More
BFSB Moves To Establish Best Standards and Practices Committee
BFSB’s Board of Directors has adopted a recommendation for the establishment of a Best Standards and Practices Committee, a mechanism intended to ensure self-oversight of the financial services industry. The … Read More
Prime Minister Ingraham Promotes “Big League” Quality of Financial Services
As we review the bright spots in the financial landscape we remain mindful of the tremendous challenges confronting international financial services providers and centres. My Government has sought since coming … Read More
Financial Intelligence Unit
Financial Intelligence Unit Act 2000 …part of ongoing review of legislative and regulatory regime On October 18, the Bahamas Government presented to Parliament a bill providing for the establishment of … Read More
New Financial Architecture
NEW WORLD ORDER – Bahamas Financial Intelligence Unit Part of Compliance Efforts On his return from a month-long trip to Europe, Prime Minister H. Ingraham reported that the Government delegation … Read More
Insurance Industry Driving Economic Growth
The insurance sector in The Bahamas contributes strongly to the nation’s economic expansion, and is ranked as the third largest industry here. The Bahamas Association of Life & Health Insurers … Read More
US Withholding Tax Regulations — New Rules Slated For 2001
QJ/QI Status The Bahamas is in discussions with US officials concerning application for Qualified Jurisdiction (QJ) status under new rules expected to be implemented next year. As of January 1, … Read More
Financial Services Industry Developing Strategic Plan
The Financial Stability Forum, the Financial Action Task Force, the U.S. Treasury Department (FinCen Advisory), the OECD and other international agencies and initiatives have raised a range of issues that … Read More
Enhanced Regulatory & Supervisory Regime
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 … Read More