IMF Issues Financial Sector Assessment

Wednesday 17th, April 2013 / 08:15 Published by

A joint press release was issued by the Central Bank of The Bahamas, the Securities Commission of the Bahamas and the Insurance Commission of the Bahamas, on the outcome of the IMF’s 2012 Financial Sector Assessment Program conducted in respect to The Bahamas.

The International Monetary Fund (IMF) has concluded that “… there has been clear and material progress in key areas of [The Bahamas’] financial sector oversight” and that the oversight of the financial system has greatly improved since the IMF 2004 OFC assessment of the jurisdiction.

These findings are contained in the IMF’s Financial System Stability Assessment (FSSA) on The Bahamas which was published by the IMF on its website on Thursday 11th April, 2013.

The FSSA summarizes inter alia the outcome of the Financial Sector Assessment Program (FSAP), carried out by the IMF from 17 – 31st July, 2012 in The Bahamas, to assess financial sector performance and soundness and financial sector oversight.

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