Bahamas' financial services sector 'world class' ahead of FATF assessment

Bahamas’ financial services sector ‘world class’ ahead of FATF assessment


Prime Minister Philip Davis (third from right) bows his head for the opening prayer at the Financial Intelligence Unit MLRO Forum 2024. He is joined on stage by (L-R) Head of IT of FIU Darrington Rahming; Royal Bahamas Defence Force Commodore Raymond E. King; Police Commissioner Clayton Fernander; Mr Emrick Seymour, Director of FIU (right of PM); and Min. State of Economic Affairs Michael Halkitis. Photo: Shaquille Johnson

PRIME Minister Philip Davis trumpeted The Bahamas’ “world-class” financial services sector as the country prepares for another mutual evaluation assessment by the Financial Action Task Force (FATF) “on the horizon”.

The prime minister delivered remarks at the Money Laundering Reporting Officer (MLRO) Forum 2024 hosted by the Ministry of Finance’s Financial Intelligence Unit where he spoke up about the country’s ability to maintain being in full compliance with “the most stringent” standards set by financial regulators.