The Bahamas Investor

...ime Authority (BMA), and has more than 40 years experience in The Bahamas’ financial services sector. In addition to his chairmanship of the GBPA, Fair is deputy chairman of Butterfield Trust (Bahamas) and chairman of the Bahamas International Securities Exchange (BISX). “I never know what I’m doing from minute to minute,” he says of his GBPA role. “Most of it is exciting; most of it is interesting. The job is very varied.” Assisting Fair in his p......

...bean Financial Action Task Force, the Attorney-General also called on Bahamians to take a more active role internationally, saying: “We can have Bahamians on key international committees that make decisions about financial services all over the world. I encourage you all to not just consider our business in The Bahamas but to open your vistas to what is happening in the international arena.” cmorris@dupuch.com......

...erful country in which to live and work.” She arrived in a boom period for financial services in the country. “Growth in the 1980s was phenomenal in The Bahamas and KPMG accountants here were some of the best paid in the world. A lot of people were very jealous if you got a position here back then.” So she stayed, and in 1993 Treco became a partner at KPMG Bahamas. In 2004, she decided to establish her own firm and in 2006 her business was merged......

...o at our peril,” says Wendy Warren, chief executive officer of the Bahamas Financial Services Board (BFSB). “The need to engage with these economic tigers goes well beyond financial services. The key for us, at this stage, is to be able to present a comprehensive picture of The Bahamas as a place for business, pleasure and residence.” Emerging markets The term “emerging markets” was coined in the late ‘70s by Antoine van Agtmael, chairman, chief e......

Minister of Financial Services Hope Strachan led a delegation from the Ministry to the Society of Trust and Estate Practitioners (STEP) Global Congress June 30-July 1, 2016 in Amsterdam, Holland. The Ministry of Financial Services was a silver sponsor of the event. CEO and executive director of The Bahamas Financial Services Board (BFSB) , Tanya McCartney was also in attendance at the Congress. The two-day forum targeted STEP members, lawyers, ac......

...service boutique law firm located in Nassau, Bahamas, which specializes in financial services, corporate advisory services, securitization, real estate and resort development and commercial litigation. From January 2005 to July 2015, Ms. Beidler-D’Aguilar was a partner at Graham Thompson, a law firm located in The Bahamas and Turks & Caicos specializing in trust and estate planning, commercial matters, civil litigation, family law, securitization,......

...d expertise. With many eager to capitalize on these opportunities, Bahamas Financial Services Board (BFSB) CEO and executive director Wendy Warren says now is the time for the domestic financial services industry to decide if they are willing to “pay the price” for tapping into emerging markets. “The challenge for us from a trends perspective is that Asia is the hot area. Asia is growing at this incredible rate, so if you’re in Asia right now, you......

...celebrates its second anniversary as a wholly owned Bahamian company, the financial services provider is remembering its past, taking stock of the present and plotting a strategic road map to success in the future. “It’s all geared towards being the premier wealth management company in this jurisdiction,”?says Mary Rodland, head of fiduciary at Ansbacher (Bahamas) Ltd. “The vision would be to see this Bahamian bank have branches in all the major......

...f the key elements that make The Bahamas a truly competitive international financial services hub: • There are around 250 banks and trust companies licensed in The Bahamas, of which 125 are subsidiaries of institutions originating from 28 countries, including Switzerland, Canada and the United States • These institutions have combined balance sheet assets of more than $300 billion and $1 trillion in assets under administration, according to The Ce......

...Cs) may be established in The Bahamas is expected to enhance the country’s financial services offerings to wealthy families. This rounds out a series of steps undertaken to respond, in a comprehensive and competitive manner, to the needs of the family in recent years. PTC legislation, at the time of preparing this article, had already had its third reading and was passed in the lower house of Parliament. When it progresses through the Senate and b......

...the list of exemptions has been tightened to include only the following: • Financial services, i.e. credit and deposit/savings products. This covers all forms of lending and savings products issued by banks, insurance companies and other financial institutions. For insurance, the products affected are, in particular, life policies and annuities. In order to give the industry time to prepare, exemptions on non-life insurance and annuities (such as......

...Antonio Guterres, who addressed the opening ceremony on 3 July, and Prime Minister Solberg. The Prime Minister’s Delivery Units of The Bahamas and St. Lucia also took part in a learning exchange. Prime Minister Minnis led a delegation to the conference which included Minister of Foreign Affairs, the Hon. Darren Henfield; Minister of Tourism, the Hon. Dionisio D’Aguilar; The Bahamas Ambassador to CARICOM, His Excellency Reuben Rahming; Executive C......

...sures. “We are pleased that our mobile operators have begun to deploy WIFI services on buses,” the Prime Minister said. “We are working to have widespread access to WIFI services in the parks and public spaces within the inner-city of New Providence, with a view to free WIFI in certain communities.” He also revealed that technology would be deployed to help citizens improve their communities, such as reporting the location of potholes or other mat......

...sion, London. During the courtesy call the Secretary-General congratulated Minister Campbell on his appointment as Minister of Transport and Local Government. The Minister provided the Secretary-General with an update on the work his Ministry is undertaking, the Maritime Cadets programme for High School students between grades 10-12, and the LJM Maritime Academy. The Bahamas is currently seeking re-election to the Council of the International Mari......

...id was significant for a number of reasons. “Considering the importance of financial services to The Bahamas’ economic well-being, global standards setters, potential investors, as well as those that would seek to abuse our financial system must know of The Bahamas’ robust commitment to global anti-money laundering and counter terrorism and proliferation financing standards,” DPM Turnquest said. “Hosting this event in The Bahamas not only allows u......