The Bahamas Investor

...ctor and at the forefront of leading the promotional charge is the Bahamas Financial Services Board (BFSB), led by recently appointed chief executive officer, Tanya McCartney. Having only assumed the position at the end of 2015, effective December 1, McCartney had to get up to speed immediately. “When I took up the position of CEO, I hit the ground running,” she says. “I jumped into the deep end. Now I’m focused on balancing policy with continuing......

...n the tourism industry, but once I became exposed to the exciting world of financial services, it just felt very right for me. I then had to decide what sector of the industry suited me best. I found the idea of assisting persons to plan for their future and organize their personal affairs very exciting. Therefore, trust services seemed a natural fit.” The offshore financial environment in the early 1980s was fairly elitist, however, and it was a......

Minister of Financial Services Ryan Pinder and Director of Financial Services Nicola Virgil-Rolle announced at a press conference today that The Bahamas will host a Regional FATCA Workshop April 9-10, 2013. The Ministry of Financial Services will host the workshop in partnership with the Bahamas Association of Compliance Officers (BACO) on the US Foreign Accounts Tax Compliance Act (FATCA) at the British Colonial Hilton Hotel in Nassau, The Baham......

...o the civil code and further by CVM rules. Minister for Financial Services Ryan Pinder also addressed the briefing, which was packed with industry practitioners, describing the ICON as a prime example of how The Bahamas stays “ahead of the game” rather than being reactive to market needs. He expressed personal pride in the new product and assured industry of his Ministry’s commitment to its success. “The ICON is a fundamental tool for continued gr......

...Three employees at the Nassau Airport Development Co (......

...t the AGM, the outgoing Excom have been privileged to have served over the past year and it goes without saying that none of it would have been possible without the dedication and drive of the Excom,” says immediate past president Kesna Pinder. “We are thrilled with the passing of the baton to the incoming team whom we are confident will exceed and go further than we did.” From left: Mildred Johnson, Rochelle Cleare, Marsha Ferguson, Jennifer Rahm......

...diversifying the economy. It can cause harm to established businesses,” he said. Instead, he advocated extending the reach of existing lineages of the economy, such as tourism and financial services. “The US accounts for most of our tourism, but there is tremendous potential in other markets.” hcutting@dupuch.com......

...inister of Finance Perry Christie gives his keynote address at the Bahamas Financial Services Board’s Annual Business and Financial Summit, held at Lighthouse Point, Our Lucaya, January 27. (BIS Photo) During his address of the Bahamas Financial Services Board’s (BFSB ) annual International Business and Financial Summit in Freeport, Grand Bahama, January 27, Prime Minister and Minister of Finance Perry Christie said his government is focused on in......

...tion is being paid to the creation of regulations and laws that enable the financial services sector to introduce new products and innovations. The financial system is well- functioning and the regulatory environment “robust,” says Rolle. “We have very sound regulations and laws governing the financial sector that stand up well in terms of the comfort and confidence they provide to those interacting with our financial centre.” Still, there is an a......

...n, such as microfinance. Microfinance aims at closing the gap by providing financial services to low or minimal-income clients in developing countries. Generally these clients are people who cannot provide collateral for a loan and/or suffer from illiteracy. Such access to financing is a huge advantage for both the individual and the economies concerned. It can spur the development of small businesses and self-employment and thus boost investment,......

...s are continually moved, making it virtually unattainable,” said Financial Services Minister Hope Strachan. The second pillar of The Bahamian economy, second only to tourism, the financial services sector accounts for 17 per cent of GDP. It employs over 20,000 (or 13 per cent of the population) directly and indirectly. Moreover, the industry generates over $200 million in substantial government revenues, and accounts for approximately 19 per cent......

...nd improved infrastructure are all incentives for intermediaries and other financial services providers to make the tropical archipelago their home. Historically, choosing wealth residency would have been limited to the most sophisticated and accomplished families. The cost of establishing and maintaining offshore structures was prohibitive and there was also the question of finding the right expertise that could accommodate a wealthy individual’s......

...ns that are pursuing their ambitions in a range of careers from tourism to financial services to the legal sector. Excelling academically at a young age, Williams was valedictorian and head girl at her junior high school, C H Reeves, and won a scholarship to Kingsway Academy, where she graduated among the top five in her class. From there, she decided to pursue a career in finance and completed a BBA in Finance and Banking (Spanish) at The College......

Here follows remarks by Minister of Financial Services Hope Strachan at a industry practitioners’ meeting held in the British Colonial Hotel October 13: I would to like to acknowledge Dame Joan Sawyer, Chairman; President of The Bahamas Bar Association; H.E. Richard Demeritte, Chairman of the Chartered Institute of Arbitrators; Mr. Edison Sumner and his Executive Members of The Bahamas Chambers of Commerce, The Bahamas Branch; Professor Jan Pauls......

...forward-thinking legislation in the region, particularly when it comes to financial services. However, in an ever changing economic and regulatory arena, The Bahamas cannot afford to rest on its laurels. Consequently, at the end of last year, then Attorney General and Minister of Legal Affairs John Delaney presented to Parliament a compendium of financial services industry-related bills modernizing a range of acts and reflecting global trends in......