en | hu | ru | bg | ro | tr FacebookTwitterGoogle+LinkedInYouTubeInstagram
+ 357-24-636-919
+ 44-20-7556-0900

Sign up for a free consultation
Subscribe to our newsletter
Request a return call
Downloadable brochures
Request a brochure
5 Minutes Offshore
How to order a company from LAVECO Ltd
Latest news
Currency exchange rates: USD/1 unit
HUF 0.0039
GBP 1.4057
CHF 1.0493
RUB 0.0174
HKD 0.1275
JPY 0.0094
CNY 0.158
CAD 0.7704
AUD 0.7682
BRL 0.303
EUR 1.2286

Important Information

Bahamas Look To Diversify Financial Services Offering


The Bahamian Minister of Financial Services Ryan Pinder has said the Government is committed to launching new financial services products to enable the islands to aggressively compete for new business.

Discussing initiatives first raised at the Bahamas Financial Services Board's International Business and Finance Summit, Pinder confirmed plans to rebrand the Bahamas' financial services offering to highlight the breadth of its offerings, and discussed measures to strengthen the territory's competitiveness vis-a-vis its offshore competitors.

Pinder plans to continue to target key markets for financial services growth, in Latin America and North America, and will look to strengthen the Bahamas' involvement in the funds sector - building on its recent receipt of IOSCO A status - and will launch a new strategy to attract captive and international insurance entities.

Pinder also discussed plans under consideration to position the jurisdiction as a "pre-eminent International Commercial Arbitration Center," and said that this would include the formation of the International Arbitration Council of The Bahamas to advise the Government on developing the necessary infrastructure to support this agenda.

In addition, Pinder announced the launch of a Value Added Trade Strategy for The Bahamas, with a focus on actively utilizing existing and prospective trade agreements to foster regional integration and develop the islands' business networks.

Pinder stated: “Each component is an important element of our economic development, one building on the other. A robust industrial sector supports a trade agenda. A dynamic trade industry provides the foundation for the expansion and further development of the financial services industry.”