The Bahamas Investor

...73rd General Assembly: Madam President, Excellencies, I congratulate you Madam President on your election to the Presidency of this 73rd Session of the United Nations General Assembly. Read/download the full speech here: National Statement by Prime Minister Dr Hubert A. Minnis 73rd United Nations General Assembly Watch a ZNS News report here.......

...warranted. The primary ambition is to engage the private sector in a way that makes optimal use of public resources toward public sector goals.” “I emphasize the point because I want to encourage all Bahamians who may have a project idea that may not fit into the prescribed scope to STILL come forward with their ideas and plans. If they fit into the guiding principles of the PPP framework and the project makes sense for the Bahamian people, the g......

...ontraction in liquidity, reflecting an increase in commercial bank lending to the government, as well as a falloff in domestic deposits. In addition, external reserves contracted, due to a rise in foreign currency demand to facilitate public and private sector transactions. Read/download the full report here: Monthly Economic and Financial Developments July 2018......

...nts report. Activity was underpinned by the ongoing gains in tourism, amid increases in high-end hotel inventory and airline seat capacity, while construction sector output was driven by several varied-scale foreign investment projects. Read/download the full report here: MEFD September 2018 MEFD Presentation September 2018......

...ully backed by Central Bank issued currencies or deposits will be eligible for issuance by payment services providers. The Central Bank will constrain the range of crypto instruments in which SFIs may transact. The Bank will also prohibit direct convertibility between Bahamian dollar (B$) currency (or officially sanctioned B$ crypto instruments) and foreign currency denominated crypto assets or non-resident sponsored instruments. This is consisten......

...Prime Minister Hubert Ingraham presented proposed revisions to the dormant account legislative regime to the House of Assembly yesterday. Read/download the full proposal here: Proposed Revisions to the Dormant Account Legislative Regime......

...receipts, which eclipsed the modest gain in expenditure. Monetary developments featured a decline in bank liquidity, as the falloff in total deposits outpaced the reduction in credit, while foreign currency loan financing to the public sector, underpinned the expansion in external reserves. Read/download the full report here: MEFD October 2018......

...2018 and applies to entities supervised pursuant to the Banks and Trust Companies Regulation Act, 2000 and the Bahamas Co-Operative Credit Unions Act, 2015.” Read/download the guidance here: ADMINISTRATIVE MONETARY PENALTIES FOR SUPERVISED FINANCIAL INSTITUTIONS......

...Attorney General and Minister of Legal Affairs Carl Bethel spoke at The Bahamas’ first anti-money laundering and counter financing of terrorism (AML/CFT) conference September 17 being held at the Baha Mar convention centre this week. Read/download the overview here: Overview of Legal, Supervisory and Regulatory Landscape......

...o provide the impetus for construction sector activity, according to the latest economic report produced by The Central Bank of The Bahamas. In the monetary sector, liquidity narrowed, as the growth in domestic credit overshadowed gains in deposits, while external reserves contracted, reflecting the traditional increase in foreign currency demand during the latter half of the year. Read/download the full report here: Monthly Economic and Financial......

...in external reserves. The latter reflected elevated public sector demand, for refinancing of foreign currency debt with domestic funding. Commenting on the report, Deputy Prime Minister and Minister of Finance Peter Turnquest said: “We are experiencing moderate growth in a stable economy, and given the size of the turnaround required, that is a good sign. The full recovery of the economy is still ahead of us, but we are confident that with our in......

...The Central Bank of The Bahamas Governor John Rolle says that he expects continued gradual improvement in financial sector indicators, as the economy expands further in 2019. His comments come following the bank’s publication of the latest Monthly Economic and Financial Development report. Read/download his full comments here: Remarks by The Governor......

...Deputy Prime Minister and Minister of Finance Peter Turnquest presented his Communication on the 2018 Fiscal Strategy Report during a debate in the House of Assembly February 6. Read/download the full communication here: Deputy Prime Minister and Minister of Finance Peter Turnquest’s communication on the 2018 – Fiscal Strategy Report......

...The Central Bank of The Bahamas has published the draft Credit Reporting Regulations. The Central Bank intends to bring the regulations into effect following the selection of the credit bureau service provider. The Governor of the Central Bank of The Bahamas, in exercise of the powers conferred by section 54 of the Credit Reporting Act, 2018 makes the following Regulations: Read/download the regulations here: CREDIT REPORTING REGULATIONS, 2018......

...llar Baha Mar resort completed its phased opening in May—along with an increase in airlift from several markets in North America, and an aggressive marketing campaign by the Government. Read/download the full report here: Monthly Economic and Financial Developments July 2018......