In its latest Economic and Financial Developments report, The Central Bank of The Bahamas has said that preliminary indications are that the domestic economy maintained its modest growth trajectory through April.

Gains in stopover visitor arrivals during the Easter holiday, supported the expansion in tourism, while activity in the construction sector reflected ongoing small to medium-scale foreign investment-related projects.

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The Financial Action Task Force’s (FATF) flagship training course on global anti-money laundering and countering the financing of terrorism (AML/CFT) standards and implementing effective measures is being held in Nassau this week.

The FATF Standards Training Course is being conducted for members of the Caribbean Financial Action Task Force by the FATF Training and Research Institute, 3-7 June 2019 at the Poinciana House regulatory complex.

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QSD May 2019 is now available. For complete viewing of monetary, financial, fiscal and economic statistics through March 2019, please click on the document below.

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On June 17, 2019, Nassau Airport Development Co (NAD) will begin an extensive runway rehabilitation project on Runway 09/27 (soon to be Runway 10/28) and Taxiway India at Lynden Pindling International Airport (LPIA).

According to officials, the work will take place over a four to six month period with a total capital investment of just under $20 million.

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Deputy Prime Minister and Minister of Finance Peter Turnquest has announced that the Ministry of Finance is developing a new Budget website at bahamasbudget.gov.bs.

“The Budget website will help to simplify the national budget and break it down into non-technical language,” DPM Turnquest explained during the National Budget 2019/20 Press Conference held at the British Colonial Hilton, May 30, 2019.

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Deputy Prime Minister and Minister of Finance Peter Turnquest held a press conference in the Victoria Ballroom at The British Colonial Hilton following his Budget Communication to Parliament earlier in the week.

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During his Budget Communication 2019/20 in the House of Assembly, Wednesday, May 29, 2019, Deputy Prime Minister and Minister of Finance Peter Turnquest highlighted key fiscal prospects for the upcoming budget year, and future prospects for the medium term horizon.

DPM Turnquest said the government’s estimates for the 2019/20 Budget are framed within the projected outcomes of the 2018/19 fiscal year and the current and projected economic climate.

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Deputy Prime Minister and Minister of Finance Peter Turnquest presented the 2019/2020 Budget Communication in the House of Assembly yesterday.

His address presented in the House of Assembly May 29, 2019 centred upon ‘a new era of openness and accountability.’

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Now in its 64th year, this annual event assembled the Ministers of Tourism of the Americas Region, with the aim to address the new challenges in destination management and the role of Destination Management Organizations (DMOs) whose remit is being enlarged as part of the evolution from promotion and marketing to a holistic destination management approach.

The seminar took an extensive look at challenges within the tourism industry such as the “ideal” tourism governance model, maximizing visitor value, while ensuring the competitiveness and sustainability of tourism destinations, and leveraging the benefits of tourism for the local economy and residents.

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Here follows Remarks by Governor John Rolle on fostering training to enhance the effectiveness of Anti-Money Laundering and Counter Financing of Terrorism outcomes:

It is a pleasure to be here at the launch of The Bahamas Chapter of the ACAMS network.

We all appreciate the importance of having skilled professionals to manage the money laundering and related risks posed to the financial system. We also appreciate that The Bahamas must demonstrate increasingly greater effectiveness in countering attempts to exploit its financial system for illicit purposes. To this end, ensuring a critical mass of skills and certifications across our industry is essential. Perception wise, it signals to the outside world that our jurisdiction is not a haven for, nor does it intend to be known as a haven for illicit financial flows.

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