'Political will' lacking to grow financial sector

Mon, May 23rd 2011, 09:45 AM

By NEIL HARTNELL
Tribune Business Editor

While the Bahamas “certainly has the ability” to grow the financial services industry’s GDP contribution to a “maximum 30 per cent”, a leading Bahamian financial services executive has questioned to Tribune Business whether the political and sector will exists to achieve this.
Owen Bethel, president and chief executive of the Montaque Group, said the Bahamas was still “waiting for others to grow our landscape for us” when it came to growing the financial services industry, such as relying on foreign-based consultants to conduct numerous studies on where this nation should position itself.
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