New software solution to advance compliance measures for OECD

Rolls out Vizor AEOI software solution for cross-border information exchange under the OECD Common Reporting Standard In order to effectively fulfill its commitments for the Automatic Exchange of Information (AEOI) under the Organisation for Economic Co-operation and Development’s (OECD) Common Reporting Standard (CRS) framework, the Ministry of Finance rolled out an international software solution from […]

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Goldwynn project to spur economic development and revitalize Goodman’s Bay

The government broke ground on a $120 million condominium hotel at the old Gold Blossom Estate on West Bay Street Wednesday, which is expected to spur economic development through the creation of hundreds of construction and permanent jobs. The project, which Canadian-based real estate conglomerate Wynn Group is touting as a compliment to the Baha Mar, […]

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Grand Lucayan deal proving “very difficult”

Despite a pledge by the Minnis administration to have the stalled Grand Lucayan Resort open “very soon”, Chief Executive Officer (CEO) of Wynn Development Paul Wynn – who is currently in negotiations with the government to purchase the property – said Wednesday that the deal is “proving to be very difficult”. “It is very complex,” […]

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D’Aguilar projects double-digit growth in Tourism with new forecasting tool

Tourism Minister Dionisio D’Aguilar said that his ministry is predicting double-digit increases in tourism arrivals before December 2018, with significant growth in cruise numbers. D’Aguilar shared that his ministry has recently employed a new computer-generated platform to assist it with monitoring current and projected tourist arrivals into the country. “We now have this program called […]

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AG Bethel addresses financial services industry on Register of Beneficial Ownership Bill

The recent introduction of the Register of Beneficial Ownership Bill, 2018 in the House of Assembly, provided the Government of The Bahamas with an opportunity to take a proactive stance against certain global initiatives the country is currently facing with regards to the financial services industry. And also signaled “the urgency for the Administration to […]

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FTRA 2018 to address country’s global compliance deficiencies

The Bahamas’ Financial Transactions Reporting Act, 2018 (FTRA), will address all of the deficiencies that were identified in respect to the country’s compliance with the recommendations of the Financial Action Task Force (FATF), according to Attorney General and Minister of Legal Affairs Senator Carl Bethel, QC. Addressing a stakeholder meeting with industry regulators and members […]

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Franklyn R. Wilson Graduate Centre officially opens

Prime Minister Dr. Hubert Minnis officially opened the Franklyn R. Wilson Graduate Centre at the University of The Bahamas  Oakes Field Campus yesterday afternoon. The prime minister stressed that new $3 million facility will play a critical role in research to promote nation building. It is named after legacy donor to the institution and former College […]

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