The head of the Clearing Banks Association said it is “difficult to anticipate” what the reaction of key international bodies and the United States will be to the government’s plan to regularize the web shops.
“Dire consequences” for the financial sector and the Bahamian economy could result from a perception among international agencies monitoring issues of money-laundering and terrorist financing that The Bahamas is being “lax” in its handling of web shops.
The current economic model of The Bahamas has been described as “unsustainable” by Dr Daniel Johnson, Minister of Youth, Sports and Culture.
Major banks are downsizing, Bank of The Bahamas is a mess, offshore banks are leaving… what’s going on with banking in The Bahamas?
Free National Movement (FNM) Chairman Darron Cash said yesterday that Prime Minister Perry Christie should be held responsible for the Bank of The Bahamas’ (BOB) financial loss in 2013.
Just a few weeks ago, Paul McWeeney, Managing Director at Bank of The Bahamas, threatened to sue the PUNCH newspaper for reporting that the bank was in serious financial trouble. Turns out the paper was right.
The unfortunate detention of Swiss banker Emmanuel Fiaux, executive director of UBS Bank on East Bay Street, reveals how many Bahamians are ignorant of what side their bread is buttered on.
Foreign Affairs Minister Fred Mitchell justifies his galavanting around the world by saying that he is encouraging foreign investment in The Bahamas, while his Immigration department is doing everything it can to scare investors away.
A daring daylight robbery at CIBC’s Harbour Bay branch threw customers into frantic confusion when the robbers began firing shots.