23/01/24

The Bahamas: A Financial Centre Built To Last

While The Bahamas confronts forward and rearguard actions by G7 and other international bodies that threaten to impede its sustainability as a financial centre, the jurisdiction continues to persevere and move ahead, unperturbed by these efforts, committed to remaining compliant whilst focused on delivering exceptional service and bespoke client solutions. It has been more than twenty years since the heavyweights of the world’s economic order began to impose rules that pose an existential threat to core elements of the economies of developing countries such as The Bahamas. Some of these actions were admittedly required. However, uniform global implementation and imposition of consequences for failing to comply remained uneven, with small developing states feeling most of the pressure. Nonetheless, The Bahamas with its limited resources, makes every effort to meet these standards. It can now boast of being one of very few countries in the world to be compliant or largely compliant with all forty Recommendations of the Financial Action Task Force.

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