The Bahamas Investor

...ation of Exchange Control. The media event was held in Office of the Prime Minister December 20. Prime Minister Minnis was accompanied by his Cabinet along with other senior government officials including acting financial secretary Marlon Johnson; permanent secretary in the Office of the Prime Minister Jack Thompson; and senior policy advisor, Office of the Prime Minister, Joshua Sears. “This reform is also part of the government’s overall vision......

...million from Ocean Business segment adjusted EBITDA and $1.3 million from financial income and other financial income; — Recorded total adjusted net loss and EPS of $(13.1) million and $(0.44), respectively, in 2012 which includes the effect of a $0.7 million gain for deferred taxes on an unrealized foreign exchange loss on U.S. dollar-denominated debt of our Brazilian subsidiary in our Offshore Supply Business.2 Excluding the effect of this gain......

...corded total net income was $7.0 million. Cecilia Yad, Ultrapetrol’s Chief Financial Officer, said, “During this quarter, we continued to generate strong financial results enhancing our performance in line with our expectations. When comparing the quarter ended September 30, 2013, to the same period of 2012, adjusted EBITDA more than tripled. We also maintained our strong cash position during the third quarter ending the period with $123.1 million......

...ncial inclusion, particularly when it comes to technology driven access to financial services for Family Island communities. Your work is preliminary, but you have a clear vision to maximize financial inclusion domestically.” DPM Turnquest said as the country builds out its legislative and regulatory framework, it must have balance with its other domestic interests. He announced that the government has asked Central Bank to coordinate with, in the......

...are becoming increasing mobile and digital,” says Brendan Holt Dunn, chief executive officer of Holt Financial. “And it comes with the personalization, convenience and ease of use that consumers have come to expect from contemporary digital services.” Holt Financial is the latest product of the Holdun Family Office . Holt Financial says it it firmly believes in digitized assets, digital currencies and the ability for people across the globe to ac......

...sector’s expansion has had a positive impact on overall employment in the financial services sector. “The growth in activity in the securities and investment funds sectors has, to some extent, offset the adverse impact on employment in the financial services sector resulting from the downsizing of other financial institutions, due to the outsourcing of operational activities to entities in other jurisdictions,” the Minister said. Halkitis also co......

...ty couldn’t be more apparent than in the public-private sector approach to financial services dialogue which is strikingly different in The Bahamas. Both parties are in lockstep, fostering industry innovation in not only the country’s core strength of private wealth management but in other sectors as well. It’s not that The Bahamas is trying to be all things to all people. Far from it. Rather, it continues to build and lever on its core strength o......

...from the corporate community and industry professionals at all levels. The Financial Services Bootcamp – now an annual event held the day before The Nassau Conference – has become the must-attend industry refresher for both long-time professionals and newcomers to the sector. This past year AIBT also continued its investment in the future professionals of the industry, by placing four additional University of The Bahamas students in six-week summe......

...Women have made tremendous strides in this industry,” says Mary Rodland, a financial services provider, who entered the sector in 1976 as a trust officer with Cititrust (Bahamas) Ltd and now heads the fiduciary department at Ansbacher (Bahamas) Ltd. “Some 20 years ago the senior levels would have been entirely male dominated.” As more women elevate to leadership positions, they are helping to change the face of corporations, speeding the upward mo......

...tor. Thompson highlights the strength and versatility of the archipelago’s financial services sector and adds that EY Bahamas is “on a fast track to growth.” Click here to read or browse the latest issue using Turn-Page/Ezine mode Subject of this issue’s Executive Focus section, Thompson shares her road to success, working her way up the ranks to become one of the most respected names in The Bahamas’ accountancy field. “Hopefully my example has pa......

...that a focus, rightly, is to keep illicit activities from infiltrating our financial services it comes across in being more attentive to those who could pose such risk, rather than treating all users and their transactions with suspicion. We will continue to do more work in this area. Exchange Controls have always been synonymous with the important tools we deploy to preserve the one-to-one value of the Bahamian dollar against the American currenc......

...d (BFSB). Since 1998, the board has been at the forefront of the country’s financial services sector, helping to create new legislation, revamp existing ones and promote The Bahamas as the ideal place for offshore investors to do business. “The strength and stature of the BFSB as a representative of the country’s financial services industry, both domestically and internationally, is in very large part due to Wendy’s relentless determination for th......

Fourteen financial services related bills have now passed the upper and lower houses of Parliament. They now require assent by the Governor General. The list of the bills are set out below: Executive Entities Bill , 2011 Trustee (Amendment) Bill, 2011 Purpose Trusts (Amendment) Bill, 2011 (2 parts) Rule Against Perpetuities (Abolition) Bill, 2011 Companies (Winding Up Amendment) Bill, 2011 Segregated Accounts Companies (Amendment) Bill, 2011 Exem......

...s to focus on reconstruction, economic and social renewal and renewed aspirations for regional leadership. “I shall assure that your stated interest in technical assistance and greater collaboration for deepened bilateral relations and mutual benefit in the areas of tourism and financial services will be conveyed to the appropriate authorities,” said Sir Arthur. Daouda Diabaté (right), Ambassador-Designate of the Republic Côte d’Ivoire, presents L......

...tructure.” Nassau to Zurich With the legislation in place, it is now up to financial services providers to generate interest in the marketplace. International Protector Group (IPG)–a fiduciary services provider that offers the formation of BEEs as part of its estate planning portfolio–is already taking strides to realize the potential. The company is so confident of the benefits of this unique product, that in the first half of last year the finan......