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Bahamas Hosts International Business & Finance Summit

by Jason Gorringe, Lowtax.net, London
06 February, 2017

The Bahamas Financial Services Board, charged with promoting the territory's offering overseas, recently hosted its 14th International Business & Finance Summit.

The event's theme was "Financial Services: Responding to Change through Innovation." It attracted approximately 150 practitioners (local and international), regulators, government ministers, and other public sector officials. Prime Minister Perry Christie made the keynote address. He stressed the importance of public-private sector collaboration for the continued growth and development of the territory's financial services industry.

A panel discussed the Common Reporting Standard (CRS) and the territory's approach to its implementation. An overview of the CRS legislation and regulations was provided and there was a discussion on the policy considerations to ensure the Bahamas meets its commitment for implementation in 2018.

Round table discussions were held on various topics including opportunities for the international business and financial services industry.

The Summit concluded with closing remarks from BFSB's Chairman, Antoinette Russell, who said: "The exchange of ideas and the focus on innovation as a key driver of growth in financial services is critical for our sector. Moreover, the transformation that is needed in financial services to respond to the changing operating environment requires continued public and private consultation."

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