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Central Bank of the Bahamas.

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Domestic banks 'low risk' over financial abuses

The Central Bank yesterday pronounced that domestic banking presents a “low risk” for financial crime, with the main vulnerabilities stemming from three industries - gaming, real estate and money transmission.The regulator, unveiling findings based o

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$7.8m caught in payment frauds

Some $7.8m worth of payment fraud complaints were made in 2018, the Central Bank of The Bahamas has revealed, with debit cards accounting for almost 60 percent of cases.

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Central Bank’s crypto deposit, credit bar gets mixed reviews

The Central Bank of The Bahamas has received push back to its proposal that banks must not accept crypto currency deposits, or make such loans, to customers.

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Banks’ bad loans strike ten-year low

Bad loans commercial banking industry borrowers dropped to under $800m at end-January 2019, falling to their “lowest levels for ten years”.

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Vacation rental bookings increase 37% for January

The Bahamas maintained its strong tourism performance through January 2019 with total air departures from Nassau and Airbnb bookings both up by “double digits” year-over-year.

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Central Bank: No money laundering sign ‘on any scale’

The Central Bank says “there is nothing” to suggest money laundering occurs “on any scale” in The Bahamas based on its analysis of currency circulation trends.

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Central Bank official: OECD tried to 'hobble' permanent residency

A top Central Bank official has accused the OECD of trying to “hobble” the competitiveness of The Bahamas’ economic permanent residency regime by including it in an arbitrary “quasi-blacklist”.

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Central Bank to ban 'anonymous' crypto assets

The Central Bank is proposing to ban its licensees from dealing with “anonymous” crypto currency assets, with 84 percent of local institutions saying they have no desire to enter this space.The regulator, unveiling a “discussion paper” on proposals f

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Govt debt just short of $8bn

The Bahamas’ national debt was just short of the $8bn mark at end-June, although its growth rate slowed significantly in a second quarter known for generating strong economic activity.The Central Bank of The Bahamas’ just-released report for the thre

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Banks backing down on fees

SOME local clearing banks have agreed to lower various banking administrative fees and consider changes to cheque cashing procedures following discussions with the government and other officials, Labour Minister Dion Foulkes said yesterday.

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IMF: Bahamas bank fees rise up to 186%

Bahamian banks have increased fees for cross-border transactions by as much as 186 per cent over the last five years, due to growing pressure on their international ties.

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PLP blew $234m in final months

An “horrendous” $234 million was added to the Government’s fiscal deficit during the May 10 general election quarter, Central Bank data released yesterday reveals.

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