Licensees of The Central Bank of The Bahamas will now be required to have a risk–rating framework, a system that will meticulously evaluate the liabilities clients pose to financial institutions.
It’s one of the requirements set by The Central Bank as outlined in the document ‘Guidelines for Licensees on the Prevention of Money Laundering and Countering the Financing of Terrorism’.
“Every licensee is required to develop and implement a risk-rating framework which is approved by its board of directors as being appropriate for the type of products offered by the licensee, and capable of assessing the level of potential risk each client relationship pose ...

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