The Organisation for Economic Co-operation and Development (OECD) has concluded that The Bahamas is a safe place for financial services and corporate investment activities, a press release from the Ministry of Finance revealed, explaining that the country’s domestic legal framework is in line with international standards.

Deputy Prime Minister and Minister of Finance Peter Turnquest revealed the OECD’s findings on the floor of the House of Assembly yesterday, where he contended that the government’s hard work in implementing legislation and regulatory reforms has paid off.

“Our commitment to the enhancement of transparency mechanisms demonstrates yet again that The Bahamas will not be a jurisdiction that encourages or facilitates financial crimes, including tax evasion and money laundering,” Turnquest said.

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