Bahamas Financial Services Board http://www.bfsb-bahamas.com/ Bahamas Financial Services Board news feed for the offshore financial services and legal industries in The Bahamas Bahamas Financial Services Board http://www.bfsb-bahamas.com http://www.bfsb-bahamas.com/bfsb_logo_sm.gif Fidelity to Issue New $10 Million Note http://www.bfsb-bahamas.com/news_detail.lasso?id=35412 Second Tranche in a $50M Note Programme to Support Bank’s Rapid Growth Fidelity Bank (Bahamas) Limited (BISX:BAB) announced today that it plans to raise another $10 million through a Note Offering to fund the rapid growth in its assets. Family Guardian Attracts High "A.M. Best" Ranking http://www.bfsb-bahamas.com/news_detail.lasso?id=35406 A.M. Best has given Family Guardian a grade of A-(Excellent) on its financial strength score, as well as an "A-" for its issuer credit rating. Pictet Offers COB Scholarship http://www.bfsb-bahamas.com/news_detail.lasso?id=35401 Pictet Bank & Trust Limited is offering a four (4) year Scholarship for a Bahamian student to attend the College of the Bahamas – specifically, for the Banking/ Finance Bachelor’s Degree Programme. Butterfield Bank Reports First Quarter Results http://www.bfsb-bahamas.com/news_detail.lasso?id=35404 The Bank of N.T. Butterfield & Son Limited (“Butterfield Bank Group” or “the Group”) yesterday reported first quarter net income of $36. OECD Welcomes Tax Information Exchange Agreements http://www.bfsb-bahamas.com/news_detail.lasso?id=35397 The Organisation for Economic Cooperation and Development (OECD) said today that the two new bilateral arrangements for the exchange of information for tax purposes, between Guernsey and the Netherlands and between the Isle of Man and Ireland, bring to fourteen the number of such agreements signed since the beginning of 2007 by jurisdictions committed to work with OECD countries. Alternative Investment Summit http://www.bfsb-bahamas.com/news_detail.lasso?id=35394 The Bahamas Financial Services Board (BFSB) will be participating in the Alternative Investment Summit (AIS) scheduled for Sao Paulo on April 28-30. UBS Expands its Bahamas Banking & Trust Presence http://www.bfsb-bahamas.com/news_detail.lasso?id=35395 Prime Minister The Rt. Honourable Hubert A. Ingraham – along with other dignitaries and guests - joined Mr. John Cusack, Acting Chairman of the Board of UBS (Bahamas) Ltd. Crédit Agricole (Suisse) SA: 28% Rise in 2007 Earnings http://www.bfsb-bahamas.com/news_detail.lasso?id=35390 Assets under management reached CHF 56 billion with a net profit in excess of CHF 250 million Year-end results once again exceeded all expectations for Crédit Agricole (Suisse) SA, both in terms of revenues and overall net result. RP Hedge Fund Limited Listed on BISX http://www.bfsb-bahamas.com/news_detail.lasso?id=35407 The Bahamas International Securities Exchange (BISX) has announced that the RP Hedge Fund Limited (RP Hedge Fund) has been added to the roster of funds listed on the Exchange. Malta-US Double Taxation Treaty http://www.bfsb-bahamas.com/news_detail.lasso?id=35410 The Department of Information in Malta has announced that on March 27 The Hon. Tonio Fenech, Minister of Finance, Economy and Investment, initialled the text of a Treaty for the Avoidance of Double Taxation, in the presence of US Ambassador Ms Molly Bordonaro. BISX Expands Mutual Fund Listings http://www.bfsb-bahamas.com/news_detail.lasso?id=35371 FG Capital Markets has been approved as a sponsor member as well as a broker dealer of the Bahamas International Securities Exchange (BISX). Wealth Management Industry – Talent Demands http://www.bfsb-bahamas.com/news_detail.lasso?id=35370 PricewaterhouseCoopers has issued a Supplement to its 2007 Private Banking/Wealth Management Survey that looks in detail at the “people issues” facing wealth managers. Terrorist Financing http://www.bfsb-bahamas.com/news_detail.lasso?id=35346 The Financial Action Task Force (FATF) has released a study that examines the means used by terrorists to raise funds and the wide variety of methods used to move money within and between organisations. US President to Meet Caribbean Leaders http://www.bfsb-bahamas.com/news_detail.lasso?id=35348 A release issued by the White House today said President George W. Bush will welcome Prime Minister Hubert Ingraham of The Bahamas, Prime Minister David Thompson of Barbados, and Prime Minister Dean Barrow of Belize to the White House on March 20, 2008. Isle of Man Ratifies Nordic Tax Agreements http://www.bfsb-bahamas.com/news_detail.lasso?id=35359 The Isle of Man Treasury today announced that Parliament has ratified the taxation agreements with the Nordic Council countries of Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden.