NASSAU, The Bahamas — The Central Bank of The Bahamas says it is actively strengthening its regulatory and supervisory frameworks to ensure continued alignment with global financial crime standards, as it prepares for heightened international assessments of effectiveness.
Central Bank Governor John Rolle outlined the institution’s focus during the opening of the 7th Annual Bahamas Research Conference on Financial Crime, describing the conference as part of the Bank’s broader strategy to enhance regulatory effectiveness, protect financial stability, and preserve international confidence in the Bahamian financial system.
“Consistent with how we view this conference, as a part of, and alongside other members of the Bahamas’ Group of Financial Services Regulators, the Central Bank of The Bahamas remains committed to developing and enhancing its regulatory and supervisory frameworks, ensuring they remain aligned with global best practices and standards,” Rolle said.
Rolle emphasized that the Central Bank’s work is directly tied to safeguarding the stability and resilience of the financial sector, as well as supporting legitimate cross-border business activity.
“Beyond our international commitment, it is about safeguarding the stability of our financial sector, enhancing resilience of the sector, and ensuring that legitimate commerce continues to thrive on a cross-border basis,” he said.
He added that maintaining trust among international correspondent banks remains a central objective, noting that such confidence underpins the country’s ability to adopt more refined, risk-based regulatory systems.
“These outcomes rest collectively on the confidence and trust that our international correspondent banks maintain in us,” Rolle said, adding that this trust allows the country “to confidently adopt, and continuously refine risk-based systems that promote greater economic and financial inclusion.”
Rolle said the Central Bank remains focused on achieving measurable effectiveness under international anti-money laundering and counter-financing of terrorism standards as The Bahamas approaches the next evaluation cycle.
“Having this perspective also explains why we are steadfastly committed to achieving robust and compliant outcomes for effectiveness against the FATF’s standards in the upcoming fifth round in the CFATF mutual evaluations,” he said.
The governor also pointed to the Central Bank’s support for data-driven regulation and cross-border cooperation, noting that the conference strengthens national capacity to counter illicit financial activity.
“This conference encourages data driven enquiries into how, at the international level, the fight against financial crime can become more effective,” Rolle said, adding that it “reinforces the value of cross-border cooperation in strengthening access to data.”
The two-day conference brings together international standard-setters, regulators, policymakers, academics, and industry leaders to examine evolving approaches to combating financial crime.
Now in its seventh year, the Bahamas Research Conference on Financial Crime forms part of the Central Bank’s broader efforts to reinforce regulatory credibility, financial system resilience, and international confidence.
