The Bahamas Investor

...the term of the lease up to the present value of the lease payments). 2 Before adjusting for these effects, the recorded total net loss and net loss per share are $(5.9) million and $(0.04), respectively; River Business segment adjusted EBITDA increased $7.0 million to $6.5 million in the first quarter of 2013, up from $(0.5) million in the same period of 2012; Offshore Supply Business segment adjusted EBITDA increased $3.0 million or 47% compare......

...bal Financial Centres Index (GFCI) provides profiles, ratings and rankings for 75 financial centres, drawing on two separate sources of data–instrumental factors (external indices) and responses to an online survey. The GFCI was first produced by Z/Yen Group in March 2007 and has subsequently been updated every six months. This is the 9th edition of GFCI (GFCI 9). The report found that there remains no significant difference in ratings of London (......

...r from the FSB chair, Mark Carney, to the G20 leaders, taking stock of the financial reforms since the global financial crisis and the major outstanding issues which call for the attention of leaders; a narrative progress report, setting out in summary, non-technical language the framework of financial reforms that the FSB is coordinating at the request of G20 Leaders and the remaining steps that need to be taken to complete the reforms; a more de......

...ts,” the Prime Minister said. “Poinciana House symbolizes the evolution of financial services in The Bahamas, and the increasing prominence world-class regulation plays in safeguarding the reputation of our jurisdiction as a premier international financial centre.” Christina Rolle (pictured), executive director of the Securities Commission, said the transition was imperative for the Commission, which was projected to outgrow its former location at......

...found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.......

...r approach” which means that FIs will need to collect and retain the CRS information for all account holders. This approach requires FIs to collect and retain the information, ready to report, in relation to all non-residents. The CRS information will not be transmitted to The Competent Authority until FIs are notified to do so by the Competent Authority. FIs will therefore carry out due diligence procedures in relation to financial accounts even......

...or 2019, as it continues to build on its role as advocate for the region’s financial services sector. The new CAB Board of Directors comprises: Chairperson – Bank of Montserrat., Mr. Dalton Lee; Vice Chairperson – JMMB Bank Ltd., Mrs. Moya Leiba-Barnes; Immediate Past-Chairperson- Antigua Commercial Bank Ltd., Ms. Joanna Charles; Director – 1st National Bank St. Lucia Ltd., Mr. Johnathan Johannes; Director – CARICOM, Mrs. Evelyn Wayne; Director –......

...egal Counsel, The Bank of Nova Scotia Trust Company (Bahamas) Ltd BFSB CEO Aliya Allen says all of these individuals have demonstrated outstanding commitment to themselves, their organisations and to the Financial Services Industry of The Bahamas as a whole. “It is with great pride – and optimism for the sustainability of the sector – that BFSB recognises each and every one of them.”......

...iod of 12 weeks. The interns started at the Nassau office last month. With financial services being a major pillar of The Bahamas economy, Andbank is encouraging the next generation of Bahamians to join the world of international banking. The two undergraduates will gain experience in private banking, as well as risk and compliance operations. “I know that there are many outstanding financial houses in The Bahamas, but I wanted to find an institut......

...2008, the bank showed a strong commitment to the future development of the financial services industry with a $1 million donation to The College of The Bahamas to help fund the school’s Graduate Business Centre. RBC’s donation is the single largest donation by a private corporation to the college. Royal Bank’s commitment to staff development and employee satisfaction is based on a structured system of recognition and rewards. “We set benchmarks. W......

...House of Assembly, March 30, 2020. (BIS Photo/Yontalay Bowe) Deputy Prime Minister and Minister of Finance Peter Turnquest has said the Small Business Development Centre (SBDC ) has rolled out the government’s $20 million Covid-19 response to provide loans to small businesses, ranging from $5,000 to $300,000. Approved loans will have a payment grace period of four months. Partnering financial institutions will facilitate the actual loan processin......

...stay connected to major financial markets in real time. Diverse Industries for Foreign Investors The Bahamian government is eager to attract foreign investors, especially in the following industries: Tourism: resorts, upscale condos, and time shares Information and data processing services Assembly industries High-Tech services Ship repair and other services Light manufacturing for export Agro-industries Food processing Banking and other financial......

...al Financial is rapidly becoming a flag bearer of success for the Bahamian financial services industry. The group, which has more than $9 billion in assets under management, combines real estate investment, fund management and boutique banking to offer a full range of financial services. According to founder and CEO David Kosoy, his business can credit its success to quality service, a depth of intellectual capital and a well-earned reputation. Ko......

Pictured: Speaker Michael Sakala, senior manager for Ernst Young’s Global Financial Services Advisory practice. (Photo courtesy BFSB) The Bahamas Financial Services Board (BFSB) , in collaboration with the Ministry of Financial Services, the Securities Commission of The Bahamas (SCB) , and corporate sponsor Ernst Young (EY) will host a half-day seminar on the European Union’s Alternative Investment Fund Managers Directive (AIFMD) January 13, 2014......

...market that enough.” The lawyer, who served as a director of the Bahamas’ Financial Services Board (BFSB) from 2000 to 2004, would like to see a return to the days when the country attracted investors not only as a place to do business, but also as an idyllic place to live. “When The Bahamas first started developing its financial services product, it used a two-pronged approach: you can do business here and have a lifestyle here. You could move w......