The Tribune

The Bahamas Financial Services Board’s (BFSB) chief executive has been confirmed as a panellist for the Financial Times’ Global Summit on International Financial Centres (IFCs), which is being held on November 27-28 in London.

The two-day summit will feature senior speakers from the world’s leading and emerging financial centres, who will compare and contrast how IFCs are operating in different parts of the world.

Sessions will analyse and explore the future for IFCs in the new global economy.

Alyia Allen will be part of a November 28 panel discussion - ‘Offshore financial centres - are they good for the global economy?’

The panel will compare the regulatory and transparency standards of large and small financial centres; discuss the accuracy of perceptions of small IFCs; and examine their contributions to the major economies and rising powers that surround them.

Richard Hay, partner at Stikeman Elliott, will moderate the panel, which also will include Simon Knott, Head of Unit II, Global Forum Secretariat, OECD Centre for Tax Policy and Administration, and Marcus Thompson, general counsel, Walkers.

Other sessions will speak to financial centres in a globalised world; the rise and fall of IFCs; key factors in global competitiveness; responses of established IFCs to the crisis; and positioning IFCs to benefit from the upturn.

The Summit will have a strong focus on regulation, including a session on the implication of increased regulation on the competitiveness of financial centres.

Rounding out the agenda will be sessions on IFCs in emerging markets and on tax co-operation.

“This is a great platform to reinforce our solid and historic foundations as an international financial centre, and how the Bahamas continues to take progressive steps in keeping with the needs of international business, finance and investment professionals,” said Ms Allen.

“The Summit provides a high profile opportunity to present our clear and

distinct advantages as an international financial centre to an audience which has significant decision-making influence.”

The BFSB’s participation in the FT’s Summit reflects its ongoing campaign to press The Bahamas’ competitive advantages as an international financial centre.