Finance

CFAL Wins International Best Investment and Advisory Firm Award
CFAL Wins International Best Investment and Advisory Firm Award

January 13, 2021

The leading investment management firm in The Bahamas has done it again. Colina Financial Advisors Ltd. (CFAL) has received the 2020 Acquisition International (AI) Global Excellence Award for Best Investment and Advisory Firm Award (Caribbean). This is the second time that CFAL has received this prestigious award, which it also won in 2018.

“This incredible achievement would not have been possible without the steadfast commitment of our team,” said Anthony Ferguson, President of CFAL. “Our staff worked diligently through the many transitions and adjustments that we had to make last year due to the COVID-19 pandemic.

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Christmas Party Funds Help Feed Thousands

December 30, 2020

Nearly 2,000 individuals are supported by the Bahamas Red Cross Society’s Meals on Wheels and Parcel/Voucher programmes on a weekly basis...

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2020 Fiscal Strategy Report Press Briefing Remarks by Sen. Kwasi Thompson, Minister of State for Finance -Monday December 21, 2020

December 23, 2020

Last week, the Government tabled the 2020 Fiscal Strategy Report (2020 FSR) in the House of Assembly. Our press conference today is an opportunity to create a deeper understanding of the Government’s plan...

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Bahamas&delisted&from&Financial&Action&Task&Force’s Grey-List of “Jurisdictions&under&Increased&Monitoring”

December 21, 2020

The Financial Action Task Force (FATF) Secretariat on its website today advised via a Press Release, attached to the Grey List on “Jurisdictions under Increased Monitoring”, that The Bahamas has now been delisted from said list...

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Government to Continue Reducing the Economic Effects of COVID-19
Government to Continue Reducing the Economic Effects of COVID-19

December 17, 2020

Senator J. Kwasi Thompson, Minister of State for Finance explained that the Government will continue to reduce the economic effects of COVID-19, by providing initiatives targeted at public health and safety, job protection and social and economic support for households and businesses.
“The levels of direct support required by the government to save lives and support commercial and economic activity to the end of October has been unprecedented.

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The 2020 Fiscal Strategy Report
The 2020 Fiscal Strategy Report

December 16, 2020

Madam President, As I rise to update this honourable chamber on the Government’s 2020 fiscal strategy, allow me to begin with a scripture that comes to mind: (2 Cor 8-9) “We are troubled on every side, yet not distressed; we are perplexed, but not in despair;Persecuted, but not forsaken; cast down, but not destroyed.”

Earlier today, the Most Honourable Dr. Hubert Alexander Minnis, Prime Minister and Minister of Finance tabled in the Lower House, the Government’s 2020 Fiscal Strategy Report (or FSR). As the Prime Minister would have stated during his presentation, the Fiscal Responsibility Act, 2018 requires the Government to publish an annual FSR to outline its medium-term fiscal framework, including economic forecasts, fiscal targets, and priorities for revenue collection, spending, and borrowing.

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PwC Bahamas gives the gift of digital wallets to its employees, just in time for Christmas
PwC Bahamas gives the gift of digital wallets to its employees, just in time for Christmas

December 16, 2020

Just in time for Christmas, PwC Bahamas facilitated the opening of digital wallet accounts for each of its employees as a show of appreciation from its leaders, becoming the first company in The Bahamas to do so.

Prince Rahming, Territory Leader of PwC Bahamas said, “This year we wanted to give our people something more meaningful. During this time of year we normally host our annual Christmas party. Due to the Covid-19 protocols, we decided to repurpose those funds to open digital accounts for all of our employees and give them the gift of digital wallets to show our appreciation for all of their efforts and hard work throughout the year.” He noted that it was particularly important for PwC to ensure that its people were at the forefront as participants of the digital economy of The Bahamas.

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Over 100 Business Owners Log on To Scotiabank Digital Banking Webinar
Over 100 Business Owners Log on To Scotiabank Digital Banking Webinar

December 08, 2020

Scotiabank continues to reach out to its customers in preparation for the upcoming changes within its branch network...On November 16, more than 100 small and medium size business participated in a digital webinar hosted by the Bank.

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New Minister plans to continue robust and transparent fiscal and economic policies

December 08, 2020

MOF: ‘Work of the Ministry to continue without interruption...’I am humbled to be chosen by the Most Honorable Prime Minister Hubert A. Minnis to assume my role at the Ministry of Finance as Minister of State...

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Tenth 'Best Bank' Win for CIBC FirstCaribbean

December 05, 2020

For its dynamic ability to deliver returns, gain strategic advantage and serve the Bahamian market, CIBC FirstCaribbean has - for the tenth time - won Bank of the Year for The Bahamas...

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Simplified Lending, MobileAssist® Join Forces for Innovative Program
Simplified Lending, MobileAssist® Join Forces for Innovative Program

December 04, 2020

Borrowers who are told to read the fine print before signing usually take it to mean hidden charges or burdensome terms. but for one group, the fine print is taking on a new meaning – getting something for nothing at a time when it’s more welcome than ever...

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Digital Banking Driving Greater Efficiencies and Savings for Businesses During COVID-19 Scotiabank
Digital Banking Driving Greater Efficiencies and Savings for Businesses During COVID-19 –Scotiabank

November 28, 2020

Director of Corporate and Commercial Banking at Scotiabank, Gregory Stuart, says local businesses could save up to 75% in banking fees should they embrace more digital banking capabilities...

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'I'm focusing on work, that's all'
'I'm focusing on work, that's all'

November 25, 2020

DEPUTY Prime Minister and Minister of Finance Peter Turnquest said he is focused "on the work of the Bahamian people" yesterday as observers await word on how Prime Minister Dr Hubert Minnis and his Cabinet will respond to allegations of fraud that have been brought against him...

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Best Private Bank in the Bahamas: Scotia Wealth Management
Best Private Bank in the Bahamas: Scotia Wealth Management

November 17, 2020

Scotia Wealth Management has been recognized by Global Finance Magazine as the Best Private Bank in the Bahamas...

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Government weighing policy options based on tourism sector performance in Q2

November 14, 2020

Ministry of Finance Response to S&P Ratings Review...The Ministry of Finance acknowledges the position of S&P Global Rating, which decided to lower The Bahamas’ credit ratingfrom 'BB' to 'BB-', based on the fallout from the COVID-19 pandemic...

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NIB pays out 20.5m to Grand Bahamians unemployed after Dorian and COVID-19
NIB pays out 20.5m to Grand Bahamians unemployed after Dorian and COVID-19

November 13, 2020

Some $20.5 million has been paid out by the National Insurance Board to Grand Bahamians left unemployed as a result of Hurricane Dorian and the COVID-19 pandemic, Minister of State for Grand Bahama Senator Kwasi Thompson said...

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The Hon. K. Peter Turnquest, Deputy Prime Minister & Minister of Finance at Accountant's Week 2020

November 10, 2020

I would like to begin by thanking the Bahamas Institute of Chartered Accountants for once again extending the invitation for me to offer remarks at the annual Accountant’s Week event...

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Digital Assets and Registered Exchanges Bill, 2020 to Provide Legal Framework to Regulate Issuance and Sale of Digital Assets

November 05, 2020

Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest explained that the Digital Assets and Registered Exchanges Bill, 2020 (DARE Bill)...

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Get-rich-quick Ponzi schemes to be illegal
Get-rich-quick Ponzi schemes to be illegal

November 05, 2020

THE Minnis administration passed legislation in the House of Assembly yesterday that seeks to criminalise Ponzi schemes that have over the years defrauded Bahamians of hard-earned money...

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Finance Minister Introduces the Financial and Corporate Service Providers Bill 2020

November 04, 2020

Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest in the House of Assembly on Wednesday, November 4, 2020, introduced the Financial and Corporate Service Providers Bill, 2020...

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