The Bahamas Investor

Minister of Financial Services Ryan Pinder has said that the government is taking a “balanced approach” to ensuring the continued diversification of the economy. Making his contribution to the debate on the 2012/2013 Mid-year Budget in the House of Assembly March 4, 2013, he said that this approach would demonstrate fiscal responsibility, yet strives for opportunities and advancements for Bahamians. Pinder outlined three primary elements of this......

...ed and strategic steps to create an attractive and competitive environment for financial services and other types of business. We want to ensure that our open-for- business message as it pertains to the Brazilian market is clearly understood and embraced.” BFSB’s CEO and Executive Director Aliya Allen (pictured) said the Board’s highly successful Bahamas Landfall events provide a strong focal point for member firms to provide a common message abou......

Minister for Financial Services Ryan Pinder has called for a “multi-faceted review” of the current tax system, saying reform would spur growth in the Bahamian economy. The Minister said the system, which heavily relies on customs duties, was not equitable and suffered from leaks that hindered growth. “With a more equitable tax structure, with less leakage, you can have a wider tax base with proper economic expansion,” he explained. Tax reform has......

...enceforth be the standard of conduct to be expected of all participants in financial services.” The stakeholder meeting was hosted by the Office of the Attorney-General, in conjunction with the Bahamas Bar Association, as part of the 2018 Legislative Series. Attorney-General Bethel provided an overview of the FTRA during Session I. The Bahamas was found to be deficient in 22 of the 40 recommendations included in the FATF’s Mutual Evaluation for la......

...Bahamas, and other jurisdictions for that matter. According to the report, for financial institutions there are fundamental attributes of a jurisdiction which are difficult to change. These include: • political stability • location and proximity to markets • legal environment • fiscal burden and the environment • primary regulation and regulators. Further conditions that are of great impact in the minds of decision makers and are susceptible to ch......

...he country’s sovereignty, its 80 plus years of experience in international financial services, and its longstanding recognition and growth as the region’s leading tourist destination. The combination has created a stable political environment and a service-based economy that caters to the business and financial needs of companies, individuals and their families, and a lifestyle that seamlessly blends cosmopolitan amenities within a tropical ambien......

...iction in terms of doing business.” Chief executive officer of the Bahamas Financial Services Board (BFSB) Aliya Allen echoed this, saying that international clients were accustomed to a high level of service and that the bar must be raised to meet this demand. “There are very few industries that are as invested in having an efficient and effective framework for e-government as the financial services industry,” she said. “Our clients interact with......

...in trusts and corporate structures. “The Nassau Conference is an excellent forum for the discussion of issues important to the business and development of financial services in The Bahamas, particuarly in the wealth management business,” said Minister of State in the Ministry of Finance Zhivargo Laing in his address. “The global economic landscape has been altered, with the new players being the G20 rather than the G7 nations,” he added. “The axis......

...industry professionals and well respected speakers from top international financial services providers. The students were chosen based on their academic performance. This year’s conference will be held June 15, at the British Colonial Hilton, under the theme?Wealth Management: Navigating Our Future. Conference registration fees are normally $500. “These students will share a key platform with local and international financial services professiona......

Bahamas-based Sterling Global Financial, an integrated banking and financial services provider with more than $9 billion in assets under management, has announced the launch of its new website sterlinggloballtd.com. The design features a corporate section focused on information and news about the company’s services, as well as background on the firm’s board of directors, including chairman and CEO David Kosoy, founder of The Sterling Companies, a......

...stry to be the most efficient registry in the region,” Maynard Gibson told financial services practitioners at the Bahamas Financial Services Board’s (BFSB) 10th International Business Finance Summit (IBFS) held at Bimini Bay Resort February 1-3. Her Ministry has responsibilities for the government department. “In relation to companies, I’ve appointed a private public sector committee, a very active one. Their mandate is to enable the incorporatio......

Opening the Nassau Conference this morning, Minister for Financial Services Hope Strachan updated the industry on the government’s efforts to adopt the Common Reporting Standard (CRS) and urged financial services professionals not to be discouraged by challenges to the sector saying: “The best way to silence our critics is to ensure we continue to meet our commitments as we have done in the past.” At the conference, which was held at the Melia re......

...he Hon. Hope Strachan, my most recent Cabinet appointment, the Minister of Financial Services is testimony to the commitment of The Bahamas to be an active players in the international arena. Each of us as representatives of The Bahamas by design, are here in Geneva for the official opening of our Permanent Mission to the United Nations Office and Other International Organizations in Geneva. Our mandates make it imperative for us to interface with......

...tax governance. Accompanying the Deputy Prime Minister was the Minister of Financial Services, Trade & Industry and Immigration Brent Symonette; the Attorney General and Minister of Legal Affairs Carl Bethel QC; and a senior advisor from each of their respective ministries. In Brussels, the delegation had a series of bilateral meetings with the Code of Conduct Group, the Directorate-General for Taxation and Customs Unions and other representatives......

...ade Information Service Portal April 6, 2017. Minister Strachan joined the Minister for Grand Bahama Dr. Michael Darville at a press conference at the Ministry for Grand Bahama to give an update on the project. She explained that the portal is a joint initiative of the government of The Bahamas and the Bahamas Chamber of Commerce and Employers Confederation (BCCEC ). “The world over, governments and the private sector have come to recognize that t......