Finance

Ministry of Financial Services Remains ‘Open for Business’

May 22, 2020

Minister of Financial Services, Trade & Industry and Immigration, the Hon. Elsworth Johnson said that although the country is still following a lockdown protocol as a result of the Covid-19 pandemic...

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The Bahamas Cannot Let Its Guard Down When it Comes to Money Laundering

May 22, 2020

Attorney General and Minister of Legal Affairs Senator the Hon. Carl Bethel explained that The Bahamas cannot afford to let its guard down again when it comes to ensuring that it has laws in place that strengthen the regulatory...

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Regional Bank Committed to Tourism Sector
Regional Bank Committed to Tourism Sector

May 21, 2020

Despite bleak forecasts for the tourist sector hard-hit by the COVID-19 pandemic, a regional bank is committed to the sector and “will continue to be active” in supporting the tourism industry of Caribbean countries including The Bahamas and Turks and Caicos Islands...

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Financial Advisory Firm launches Free Consultation Series for COVID impacted Bahamians

May 15, 2020

As families across the archipelago confront the many economic challenges brought on by the global COVID-19 pandemic, Drewber Solutions, the country’s fastest emerging financial advisory firm is stepping up to offer much-needed support and financial assistance to scores of impacted Bahamians...

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Bank of England warns of sharpest recession on record

May 07, 2020

The Bank of England has warned that the UK economy is heading towards its sharpest recession on record...

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Central Bank takes measures to preserve external reserves

May 05, 2020

With foreign reserves currently hovering at just above $2 billion and expected to be depleted to the $800 million to $1 billion range by the end of 2020, Central Bank of The Bahamas (CBOB)...

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Rolle: Previous economic contraction analysis outdated
Rolle: Previous economic contraction analysis outdated

May 05, 2020

Central Bank Governor John Rolle said yesterday that initial analyses projecting the economy would contract by eight percent in 2020 are now outdated, with new projections for economic contraction in the mid to upper teens...

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Central Bank, Ministry of Finance working toward post-COVID-19 borrowing strategy
Central Bank, Ministry of Finance working toward post-COVID-19 borrowing strategy

May 05, 2020

There is a lot of interaction between The Central Bank of The Bahamas (CBOB) and the Ministry of Finance on the government’s borrowing strategy to help mitigate the economic downfall caused by the COVID-19 pandemic, CBOB Governor John Rolle said yesterday...

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Coronavirus 'will hasten the decline of cash'
Coronavirus 'will hasten the decline of cash'

April 29, 2020

Coronavirus will hasten the decline in the use of cash as people make a long-term switch to digital payments, experts say...

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Bank of The Bahamas' Bimini Branch Temporary Closure

April 23, 2020

Please be advised that our Bimini Branch is temporarily closed until further notice...

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Scotiabank Bahamas Advises Customers to Beware of Fraud Scams

April 21, 2020

Scotiabank Bahamas Limited is aware of reports of phone calls being made to customers claiming that there is an issue with the customer’s account...

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Lyford Cay Foundations' Response to COVID-19
Lyford Cay Foundations' Response to COVID-19

April 17, 2020

Lyford Cay Foundations is deeply concerned about the impact of the COVID-19 pandemic on the world, particularly on The Bahamas...

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Ministry of Finance Response to SP Rating Review
Ministry of Finance Response to S&P Rating Review

April 17, 2020

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

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Virtual Office Open and Fully Functioning for Department of Inland Revenue (DIR)

April 17, 2020

DIR advises the business community that VAT filings and payments remain due on April 21, 2020. Although some businesses do not have access to all their latest records at home, due to the COVID-19...

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DPM: Seventy percent of revenue lost since March
DPM: Seventy percent of revenue lost since March

April 17, 2020

Deputy Prime Minister Peter Turnquest said yesterday that the government has lost at least 70 percent of its revenue during the period since emergency lockdown measures were implemented in an effort to stop the spread of COVID-19...

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Govt wants 20 percent budget cuts at ministries

April 17, 2020

The government has requested its various ministries and agencies to “find savings in their budgets” to help it navigate its fiscal goals, but Deputy Prime Minister Peter Turnquest stressed that the Minnis administration...

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Simplified Lending 'Business grateful for quick accelerator loans, some brought to tears'

April 15, 2020

Pantry says program saving businesses every day...It is extraordinary to see traditionally successful businesspeople cry because they secured a loan to help pay staff. But these are extraordinary times and for one lender participating in the government’s public-private sector loan program...

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Leno's head of Wealth Solutions calls for accelerated digitalization speed up recovery following shock of national shutdown to contain COVID-19 pandemic
Leno's head of Wealth Solutions calls for accelerated digitalization speed up recovery following shock of national shutdown to contain COVID-19 pandemic

April 14, 2020

The surest pathway to economic recovery following the national shutdown to contain the deadly COVID-19 virus is a jolt to accelerate digitalization, expanding and spurring online activity that is an increasingly vital part of economies around the world, says one of the nation’s top financial analysts...

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Government ready to navigate challenging fiscal circumstances

April 10, 2020

Ministry of Finance Response to Moody’s credit rating review...The Ministry of Finance acknowledges the decision by Moody’s to place The Bahamas’ Baa3 ratings on review for downgrade given the extreme strain placed on the recovering Bahamian economy...

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Bahamas rating under review for downgrade, says Moody's
Bahamas rating under review for downgrade, says Moody's

April 10, 2020

THE economy in The Bahamas is expected to shrink by about eight percent this year, according to credit rating agency Moody's. The prediction comes as the agency placed The Bahamas on review for downgrade on Thursday...

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