The Bahamas Investor

...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......

...on to the 2015 Budget Debate in the House of Assembly, June 3, Minister of Financial Services Hope Strachan said the opportunity to establish an RMB (yuan) centre in The Bahamas is a significant win for the country that would further cement its position as the leader in the region for financial services. “It would also assist in increasing trade between China and The Bahamas and indeed the region by enabling China-Bahamas trade to be denominated i......

...ness experience, but I will also be able to hone my language skills, as well as interact with persons from a wide spectrum of countries and backgrounds.” Andbank (Bahamas) chief executive officer Juan Iglesias says that “the Ministry of Financial Services and the Bahamas Financial Services Board are committed to excellence in the financial services industry of this jurisdiction. We share that vision and believe that developing future talent is key......

...diverse mix of golf, corporate and summer members, many of whom are in the financial services field,” says Simms. “We offer corporate golf memberships at discounted membership rates and also, we have corporate events which include a full day of golf, instruction and awards and entertainment at the Clubhouse. It’s great for team building and staff appreciation days.” Simms adds Ocean Club’s location, a stone’s throw from Nassau’s downtown core, mak......

...tries High-Tech services Ship repair and other services Light manufacturing for export Agro-industries Food processing Banking and other financial services Pharmaceutical manufacturing......

...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......

...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......

...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.”......

...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......

...s 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 with your family and have a home and a business,” says Klonaris. “That is the big attraction. It is not too late for us to realize the full potential of that original vision. “We have so much to offer, but we are not fully cognizant of how much.” Kl......

...al 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. The event will be held at the British Colonial Hilton Hotel in downtow......

...Financial Services. Acting Director of Trade & Industry in the Ministry of Financial Services Viana Gardiner said the Ministry has drawn up “a full onslaught of legislation” to bring The Bahamas up to date on regulation concerning patents, copyrights and trademarks and believes this level of protection will encourage international companies to base their operations in the country. Gardiner highlighted Freeport as a possible site for investment, po......

...latforms. Contribution to the economy Insurance is a major industry in the financial services sector and a significant contributor in terms of employment and revenue. As some of the other local industries have shrunk or been under threat from external sources recently, the insurance industry remains fairly strong and has even shown minimal growth in a difficult economy. According to a report from the Insurance Commission of The Bahamas (ICB), duri......

...rogramme of tax planning in connection with captive insurance. The Bahamas Financial Services Board, in association with the Ministry of Finance, has been working to bring The Bahamas’ External Insurance Act to a high level. This could form a basis for an inexpensive and efficient administration to facilitate the quick and reasonably priced licence creation and licensing of captive insurance companies in The Bahamas. This legislation should soon b......

...to “People Power” – recognised as one of the most important assets of our financial services industry. Capacity building to meet the myriad challenges and opportunities that confront us today remains a key to success, and the sustainability of our sector.” The 2014 Nominees are: ACHIEVER OF THE YEAR Amanda I. Smith, Associate Manager, Andbank (Bahamas) Ltd. Anna Zywiolek, Relationship Manager, Julius Baer Bank & Trust Eurika Cartwright, Administr......