The Bahamas Investor

...ll take us into 2014. How would you describe the growth and development of financial services in The Bahamas? SMITH: Financial services in The Bahamas has been somewhat in sync with what has been happening in the global market, particularly at the Commission, where we regulate several sectors, specifically the securities industry, and the fund services industry. What we have seen in fund services is that we have lost some value on the management s......

...rding to Warren who says this market is key to the success of the Bahamian financial services industry. The CEO also highlighted the BFSB’s work over the past year in reaching out to other international centres such as China, Singapore and the US. “We need to make the Bahamas more visible,” she also said. “The Bahamas could position itself internationally, and especially in Latin America, as a centre for knowledge.” Warren warned against complacen......

...o-branded CIBC FirstCaribbean International Bank. Offering a full range of financial services, it is the largest, regionally-listed bank in the English and Dutch speaking Caribbean, with more than 2,900 staff, 66 branches, 22 banking centres, and seven offices in 17 regional markets. CIBC FirstCaribbean operates 15 branches and agencies, 38 instant tellers, a wealth management/ International Banking Centre, a Mortgage and Loans Centre and a Corpor......

...ble high-speed internet network.” Fintech at the forefront In the field of financial services, technology is also beginning to play a more prominent role in the way companies invest and manage clients’ wealth and it is vital that The Bahamas stays ahead of the curve. Some companies are already embracing the change. Nassau, Bahamas business services and family office firm Caystone Solutions Ltd is now partnered with cloud-based enterprise resource......

...in the future. “I think the real benefit and attraction of a SMART fund is for financial institutions that want to attach some regulations [to their hedge funds] and be recognized as operating under a regulatory regime,” says Dirk Simmons, vice-president of operations with Citco Fund Services Bahamas. His Nassau-based office is a branch of the world’s largest hedge fund administrator, with some $250 billion in assets under administration through s......

...cewaterhouseCooper’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. Financial technology includes all aspects of financial services including retail banking, investment and crypto-currency. Kelly Banks, senior technology & operations leader at Ansbacher , says the widespread adoption of fi......

...ed to step in if agreements fail; and it is government that will be blamed for poor services. The challenge, however, is in understanding what level of control needs to be retained in order to achieve public expectations, while still providing enough flexibility to private sector owners to manage an efficient operation. For investors, operators, advisors and other stakeholders, there are many infrastructure opportunities across the Atlantic/Caribb......

...is programme will enhance the competitiveness of CARIFORUM service suppliers and create an optimum business environment for services.”......

...tive edge.” Learn more about Expanding Your Connected Horizons. Contact us for information about Comverse’s presentations, demos, special cocktail event and more at Mobile World Congress 2013 – and to schedule a meeting with us there. About the Bahamas Telecommunications Company Ltd. (BTC) BTC is the exclusive mobile operator in the Bahamas, as well as a leading provider of fixed-line and broadband services. The company currently has approximately......

...engaging young people in The Bahamas’ second largest industry, Minister of Financial Services Hope Strachan announced yesterday that her Ministry’s planned regional centre of excellence will offer accredited financial degrees – giving younger professionals the chance to further their education. “The learning process is never complete. Opportunities for furthering your education are critical to the growth and sustainability of your industry,” said......

...ancial services sector paid a courtesy call on newly-appointed Minister of Financial Services, Trade & Industry and Immigration Brent Symonette May 19, 2017. Pictured: (from left) Angelique Sawyer, Financial & Trade Officer; Sherrylee Smith, Permanent Secretary in the Ministry of Financial Services; Brent Symonette, Minister; Antoinette Russell, chairman, Bahamas Financial Services Board (BFSB); Tanya McCartney, CEO & Executive Officer, BFSB; Mich......

...odern infrastructure, and the modernization and digitization of government services. Energy reform is deemed a priority in ensuring adequate electricity supply in New Providence. “We are embarked also on a renewable and solar energy revolution, with our Family Islands all eventually supplied by renewable energy,” the Prime Minister said. “We are building on the work of former governments to give the Bahamian people and residents the infrastructure......

...HELL MINISTER OF FOREIGN AFFAIRS and IMMIGRATION HON. DR. MICHAEL DARVILLE MINISTER FOR GRAND BAHAMA HON. V. ALFRED GRAY MINISTER OF AGRICULTURE, MARINE RESOURCES AND LOCAL GOVERNMENT HON. DR. PERRY GOMEZ MINISTER OF HEALTH HON. SHANE GIBSON MINISTER OF LABOUR AND NATIONAL INSURANCE HON. KENDRED DORSETT MINISTER OF THE ENVIRONMENT AND HOUSING HON. GLENYS HANNA MARTIN MINISTER OF TRANSPORT AND AVIATION HON. DANIEL JOHNSON MINISTER OF YOUTH SPORTS A......

...o continue the excellent work that they are doing.” Accompanying the Prime Minister were: Minister of Youth, Sports and Culture Michael Pintard; Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson; permanent secretary in the Office of the Prime Minister, Harcourt Brown; parliamentary secretary, Pakesia Parker-Edgecombe; parliamentary secretary, Iram Lewis; and other staff of the Office of the Prime Minister. Pictu......

...inforces your commitment to maintaining the highest regulatory standards.” Ryan Pinder, Minister of Financial Services, said the new development is a “landmark” achievement demonstrative of the existing level of cooperation between the private sector, regulators and central government. “It now puts us not only on an even playing field, but gives us at a competitive advantage,” he added. According to Pinder, being in compliance with international b......