The following is a press release issued by the Cabinet Office on July 13, in respect of latest developments and actions currently being taken in response to the “blacklisting” of … Read More
FATF Report – Response from The Bahamas
Statement by The Rt. Hon. Hubert A. Ingraham Prime Minister Commonwealth of The Bahamas on the Release of the FATF Report on Money Laundering Listing Non-Cooperating Countries 26 June, 2000 … Read More
2000/2001 National Budget
The Minister of Finance has presented The Bahamas first balanced budget since 1973. The maintenance of economic expansion, now in its sixth consecutive year, has been fueled by record foreign … Read More
World Wealth Report 2000
According to a report by Merrill Lynch and Gemini Consulting, ultra-high net worth individuals now number 50% more than they did three years ago. During 1999 alone, the “million dollar … Read More
Development of E-Commerce
Industry Initiatives The Bahamas Financial Services Board has presented its Position Paper to the Ministry of Finance, indicating that the strategy for the development of an action plan is two-fold: … Read More
Minister of Education Receives First Copy of BFSB’s Guide to Careers in Financial Services
The Bahamas Financial Services Board has produced a “Guide to Careers in Financial Services”. Photo shows BFSB Chairman Ian Fair presenting Sen. The Hon. Dame Ivy Dumont, Minister of Education … Read More
Regional Response to International Initiatives
Extract: PRESENTATION BY H.E. ARTHUR A. FOULKES BAHAMIAN AMBASSADOR TO THE PEOPLE’S REPUBLIC OF CHINA OFFSHORE FINANCIAL SERVICES SEMINAR JUNE 16, 2000 – NASSAU, BAHAMAS “The financial services industry in … Read More
Tracking Money Laundering Activities
Miami-based Americas Software Corporation recently unveiled a new software package to the financial services community in The Bahamas– ASSIST//customerknowledge. The programme is intended to facilitate procedures by which banks can … Read More
Anti-Money Laundering Legislation
The Government has introduced an Amendment to the Money Laundering (Proceeds of Crime) Act of 1996. Attorney General and Minister of Foreign Affairs Janet Bostwick cited this as yet another … Read More
Increasing Market Share
For the one year period ending March 2000, The Bank of The Bahamas reported growth of total assets from $195 million to $225 million. Bank profits for the three month … Read More