Fintech is changing all aspects of the financial services industry and it is vital that The Bahamas stays ahead of the curve. This was one of the key messages from this week’s Nassau Conference, which saw the sector come together to discuss strategies for future growth.

According to PricewaterhouseCooper’s 2017 Global FinTech Survey, more than 82 per cent of financial services providers plan to increase fintech partnerships in the next 3 to 5 years and 88 per cent believe they will lose revenue to innovators.

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The United Nations World Tourism Organization (UNWTO) elected The Bahamas as president of the Commission for the Americas (CAM) at the 22nd session General Assembly held in Chengdu, China, September 10-17, 2017.

Bahamas Minister of Tourism and Aviation Dionisio D’Aguilar will assume the seat on behalf of the country for the next two years.

Minister of Financial Services Trade and Industry and Immigration Brent Symonette today urged members of the Bahamian financial services industry to work together with government as his ministry moves forward with key initiatives for the sector.

Delivering the keynote address at the Nassau Conference this morning, the Minister said: “Both in the private and public sector we must focus on repositioning and strengthening The Bahamas. It is not enough to have business as usual.”

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The Securities Commission of The Bahamas is holding activities this week in celebration of World Investor Week (WIW) 2017, which runs 2-8 October.

WIW is an initiative of the International Organization of Securities Commissions (IOSCO), the leading international forum for securities. The WIW campaign aims to raise awareness about the importance of investor education and protection and highlight the various initiatives of securities regulators in these critical areas.

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The Securities Commission of The Bahamas has launched a public consultation period in regards to the draft Securities Industry (Fee) (Amendment) Rules, 2017.

The Securities Industry (Fee) (Amendment) Rules, 2017 (the “Rules”) have been developed to amend the Securities Industry (Fee) Rules, 2012. The main objective of the Rules is to establish increases in the fees payable by persons licenced to conduct various categories of securities business under the Securities Industry Act 2011 (the “Act”) by the repeal and replacement of the First and Second Schedule of the Securities Industry (Fee) Rules 2012.

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The Securities Commission of The Bahamas has launched a public consultation period in regards to The Investment Funds (Amendment) Regulations, 2017.

The Investment Funds (Amendment) Regulations, 2017 (the “Regulations”) have been developed to amend the Investment Funds (Amendment) Regulations, 2013. The main objective of the Regulations is to establish increases in the fees payable under the Investment Funds Regulations 2012 by the repeal and replacement of Schedule 12 of the Investment Funds (Amendment) Regulations, 2013.

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Pictured: Minister of State for Grand Bahama in the Office of The Prime Ministerr Kwasi Thompson gives the keynote speech at the official opening of the first Business-to-business Expo, September 28, 2017. (BIS photo/Andrew Miller)

Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson has said that The Bahamas needs to rely less on tourism and diversify the economy.

In opening the first Business-to-business Expo at the Pelican Bay Resort September 28, Minister Thompson said that his office was mandated to focus on the economic revitalization of Grand Bahama.

“The government has a focused strategy to improve our economy here in Grand Bahama,” said Minister Thompson. “Therefore we must ensure that local businesses and entrepreneurs are in a position to provide the ancillary services to our anchor companies within the industrial sector.”

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The National Accounts Section of the Department of Statistics has announced the release of a revised data series for the gross domestic product (GDP) of The Bahamas, covering the years 2012 to 2016 during a press conference at the department, September 29, 2017.

Assistant director, Department of Statistics with responsibility for National Accounts, Clarice Turnquest said: “These changes incorporate the introduction and revision of major data sources; implementation of the revised United Nations System of National Accounts SNA 2008; a shift to using the double deflation methodology in the constant price series and the use of a new benchmark 2012 Supply and Use table (SUT).”

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The Bahamas is preparing to host a major international maritime conference next month. The event, running October 18-20, is expected to attract more than 200 experts and industry leaders.
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LAS VEGAS, Sept. 29, 2017 /PRNewswire/ — Konami Gaming, Inc. announced the selection of its award-winning SYNKROS casino management system by Genting Americas as the core gaming management system at the company’s Resorts World Bimini property located on North Bimini, Bahamas . Konami’s SYNKROS® was awarded through a formal RFP selection. Resorts World Bimini’s first class gaming floor will feature a comprehensive suite of leading systems technology spanning marketing, analytics, reporting, cage and credit, accounting, and more.

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