Search results for : bahamas bank

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News Article

November 24, 2016
Bell calls for measures to tackle Dominican poachers

STATE Minister of National Security Keith Bell yesterday advocated for the government to take more aggressive measures against Dominican poachers, claiming that the intruders are becoming "more and more violent" towards fishermen and the Royal Bahamas Defence Force.

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News Article

December 12, 2016
CTFE confirms Baha Mar purchase

Hong Kong-based global conglomerate, Chow Tai Fook Enterprises Limited (CTFE), announced that it has finalized an agreement with the Bahamas government and the Export-Import Bank to own and operate Baha Mar, and pledged to sink another $200 million into the project to "support pre-opening activities", according to a press statement released yesterday by the company.
Included in that $200 million w...

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News Article

December 12, 2016
CIBC FirstCaribbean Bahamas wins Bank of the Year award

The Bahamas operations of CIBC FirstCaribbean International Bank have captured the prestigious 2016 Bank of the Year Country Award in The Banker Magazine's 17th Annual Bracken Awards Programme. This is the bank's fifth time winning the title for The Bahamas, having won in 2008, 2009, 2012, 2013 and now 2016.
Managing Director Marie Rodland-Allen received the award on behalf of the bank at a gala b...

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News Article

December 14, 2016
Aquinas College student wins 33rd Central Bank Art Competition

An Aquinas College student has won first place in the high school category of the 33rd Central Bank Art Competition and Exhibition.
Sonae Smith's winning piece, "Fallen, Yet We Rise" impressed the judges with its vibrant colors, thought-provoking social context and mesmerizing undertones. The winning piece competed against an impressive number of entries by young artists enrolled in secondary scho...

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News Article

December 18, 2016
Sunryse's 9th annual Shred Day 2016 an overwhelming success

In an effort to promote information protection and support local charities, Sunryse Information Management partnered with RBC Royal Bank as the key corporate sponsor for the ninth annual "Shred Day". The event, which was held at the Western Esplanade, Arawak Cay was hosted to promote awareness on the importance of the safe disposal of sensitive documents and garnering support for two local chariti...

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News Article

December 21, 2016
Junk status

Standard & Poor's (S&P), the world's largest credit ratings agency, yesterday downgraded The Bahamas' sovereign credit rating to sub investment-grade level, widely considered "junk status", in a grim economic report on the country's fiscal health and future.
The international ratings giant dropped the credit rating by one notch to "BB+/B" from "BBB-/A-3", along with a threat to lower the rating ov...

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News Article

December 28, 2016
Rolle: Central Bank monitoring state of correspondent banking

Governor of The Central Bank of The Bahamas John Rolle told Guardian Business that the bank is actively monitoring and assessing an "evolving" situation concerning the possible deterioration of relationships between correspondent banks abroad and banks in this jurisdiction, after the International Monetary Fund (IMF) made reference to some concerns over any major disruption to the relationships.
T...

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News Article

January 08, 2017
Bahamas Development Bank earmarks 500,000 for loans to small farmers

The government has earmarked $500,000 in assistance to small farmers across this nation's archipelago. The funding, which will be disbursed through a micro-loan initiative between the Bahamas Development Bank (BDB) and the Bahamas Agriculture and Marine Science Institute (BAMSI), is expected to go toward farm upgrades and agricultural improvements, Assistant Manager of Credit for Bank of The Baham...

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News Article

January 20, 2017
Mayaguana, Acklins to Get Visa Pre-Paid Cards, Gift Cards to Replace Emergency Food Coupons

Qualified residents in Mayaguana will receive their VISA Pre-Paid Cards by February 3, 2017, Minister of Social Services and Community development, the Hon. Melanie Sharon Griffin announced, January 20, 2017 at a Department of Social Services...

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News Article
Scotiabank Named 'Best Commercial Bank Capabilities in The Bahamas' by Euromoney
February 16, 2017
Scotiabank Named 'Best Commercial Bank Capabilities in The Bahamas' by Euromoney

Scotiabank has been recognized for the “Best Commercial Banking Capabilities in The Bahamas” by Euromoney, a leading global financial publication, in its recently released annual Global Private Banking survey...

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News Article

February 22, 2017
Smith lauds banking fees survey, but warns price controls could lead to market distortions

Former Central Bank Governor James Smith lauded the efforts of the Consumer Protection Commission (CPC) in finding out how the public feels about retail banking fees via a recent survey, but noted that price controls in the Bahamian economy could create market distortions.
Speaking with Guardian Business yesterday, Smith agreed with the CPC's move to collect evidence on consumer perceptions of ban...

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News Article

March 29, 2017
Bahamas-based banks implicated in Brazil oil scandal

The Bahamas was named in a scandal sweeping through Brazil's state-owned oil company Petrobras.
Brazilian prosectors announced yesterday the arrest of Roberto Goncalves, a former executive engineering manager of Petrobras, according to the Associated Press. The prosecutors allege offshore accounts in China, Switzerland and The Bahamas were used to receive bribe money that was paid by construction ...

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News Article

March 31, 2017
Fisheries Industry Experiencing Highest Yields in 10-20 years as a result of RBDF Operations

The country’s fisheries industry is experiencing higher yields as a result of the enhanced naval/military operations being conducted throughout The Bahamas by Officers and Marines of the Royal Bahamas Defence Force...

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News Article

April 09, 2017
25th Anniversary Commemorative Stamps for Bahamas Marine Mammal Research Organization

On Monday, April 10, the Post Office Department will release commemorative stamps celebrating the 25th Anniversary of the Bahamas Marine Mammal Research Organization, a Bahamian non-profit organization...

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News Article

April 11, 2017
Fisheries industry experiencing higher yields as a result of RBDF operations

The country's fisheries industry is experiencing higher yields as a result of the enhanced naval/military operations being conducted throughout The Bahamas by officers and marines of the Royal Bahamas Defence Force.
National security officials say the operations have also had the domino effect of making Bahamian fishermen feel more secure at sea due to the heavy presence of defense force personnel...

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News Article
Scotiabank Bahamas Ltd. Supports International Beach Soccer
May 04, 2017
Scotiabank (Bahamas) Ltd. Supports International Beach Soccer

The Bank is a National Supporter of FIFA Beach Soccer World Cup Bahamas 2017...Scotiabank (Bahamas) Limited is a proud National Supporter of The FIFA Beach Soccer World Cup Bahamas 2017...

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News Article
Scotianbank Bahamas Ltd. Appoints Board Chairman Mariane Hasold-Schilter is new Chairman and Director of the board
May 05, 2017
Scotianbank (Bahamas) Ltd. Appoints Board Chairman Mariane Hasold-Schilter is new Chairman and Director of the board

Scotiabank (Bahamas) Limited is pleased to announce the appointment of Marianne Hasold-Schilter as Director and Chairman of the Board...

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News Article

May 10, 2017
Ingraham: We have to save Bank of The Bahamas

Former Prime Minister Hubert Ingraham said yesterday that the next government of The Bahamas will have to deal with the Bank of The Bahamas (BOB) debacle almost immediately after it takes office.
BOB is now embroiled in a court battle to avoid the imposition of a measure by The Central Bank of The Bahamas, its regulator, that would protect its customers.
Ingraham, who was a guest on Guardian Radio...

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News Article

May 10, 2017
Central Bank: Fiscal deficit at 310.4 mil. for 2015/2016 fiscal year

The fiscal deficit more than doubled before the passage of Hurricane Matthew and landed at $310.4 million at the end of the 2015/2016 fiscal year.
The Christie administration has continually asserted that Hurricanes Matthew and Joaquin led to unexpected spending, which placed a dent in the government's original fiscal targets.
The Central Bank of The Bahamas' (CBOB) 2016 Annual Report revealed yes...

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News Article

May 17, 2017
Bank of The Bahamas reports 11 million loss

Bank of The Bahamas (BOB) released its financial statements for the first quarter of 2017 yesterday, revealing losses of $11 million, $5 million more than the bank reported in the first quarter of 2016. Its losses continue, even after the bank was bailed out by the government last year.
The new Free National Movement (FNM) government has declared that it will not allow BOB to fail. Meanwhile The C...

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News Article

May 17, 2017
A new course

Two things struck us in Dr. Hubert Minnis' victory speech on the historic night of May 10.
The first was his pledge to probe how the people's money was spent.
It appealed to voters who rejected Perry Christie and the Progressive Liberal Party (PLP) at the polls in dramatic fashion.
Many will be waiting to see if the new prime minister was serious in his pledge to prosecute if there is any evidence...

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News Article

May 17, 2017
Cash calls for clarity over Bank of the Bahamas

FORMER Free National Movement Chairman Darron Cash yesterday called for a "full disclosure" of the Bank of the Bahamas' "true state of affairs," suggesting that the former Christie administration's "systematic pattern of distortion and cover up" of the bank's woes must come to an end...

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News Article

May 17, 2017
Statement on Bank of The Bahamas by Deputy PM and Minister of Finance, Hon. K. Peter Turnquest

The Government of The Bahamas acknowledges that the Bank of The Bahamas is a systemically important financial institution and as such is fully committed to its success...

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News Article

June 14, 2017
BDB micro-loan initiative sees first successful applicant

Licensed farmer and owner of Premium Farm Bahamas Dave Munroe is the first successful applicant of a micro-loan facility offered by the Bahamas Development Bank (BDB).
The fund, operated in conjunction with the Bahamas Agriculture and Marine Science Institute (BAMSI), allows Bahamian farmers access to $10,000 for farm upgrades and agricultural improvements. Launched in 2016 in an effort to bolster...

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News Article

June 30, 2017
Applying lessons to solid waste management in The Bahamas

The recent fires that plagued the New Providence Landfill in early March of this year were a turning point for many residents on New Providence who suffered the shutdown of schools and public facilities, and who, in some cases, were forced to evacuate their homes.
Based on an assessment by a Pan American Health Organization (PAHO) team, the closest residents to the landfill site at Jubilee and Vic...

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News Article

July 04, 2017
Haitian migrants apprehended in The Exumas

Over 60 undocumented Haitian nationals were apprehended in the central Bahamas early Monday morning by the Royal Bahamas Defence Force.
A Haitian sloop was intercepted on the Great Bahama Bank west of the Exuma chain by HMBS Lignum Vitae under the command of Senior Lieutenant Bertram Bowleg around 2 a.m. Monday morning. The vessel was subsequently boarded and searched, resulting in 69 migrants (58...

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News Article

July 04, 2017
69 migrants stopped in Haitian sloop

MORE than 60 undocumented Haitian nationals were apprehended in the central Bahamas early Monday morning by the Royal Bahamas Defence Force...

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News Article

July 05, 2017
Dominican boat captain sentenced for ramming defense force vessel

Eight months after his vessel rammed a Royal Bahamas Defence Force (RBDF) patrol craft, a Dominican fishing captain was charged and sentenced to jail on Tuesday.
Victor Diaz was sentenced to 16 months at the Bahamas Department of Correctional Services by Chief Justice Andrew Forbes in Court No. 8. The prosecutor for the case was Assistant Superintendent Daxon. Diaz's vessel had rammed HMBS Madeira...

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News Article

July 05, 2017
Central Bank expresses concern about Grand Bahama hotel closures

While progress is being made on a deal with Canadian development company The Wynn Group to reopen two major resorts on Grand Bahama, The Central Bank of The Bahamas lamented their closure, noting the temporary loss of over 500 rooms on that island.
Memories Grand Bahama and certain parts of the Grand Lucayan have remained closed since the passage of Hurricane Matthew.
In its monthly economic repor...

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News Article

July 18, 2017
The tragedy of Bahamian development Faustian or Shakespearian tragicomedy

Banks and historical development
The stage provides great entertainment, except when we are a part of it and we are the ones being laughed, jeered at, or at the receiving end of rotten tomato throwing. As the country sits poised to lose its self-proclaimed status as a banking centre, given the exodus of the offshore, onshore or commercial banks, and the real shift from off-shore banking to wealth ...

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