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Bahamas To Upskill Financial Sector Workers

by Mike Godfrey, Lowtax.net, Washington
27 November, 2015

The Bahamas will create a new "Center for Excellence" to enhance the training of local financial sector professionals.

Hope Strachan, the jurisdiction's Minister of Financial Services, said: "This Center for Excellence will not only provide us with a model institution which will educate and certify professionals to international standards but it can be used to assist with training for government and private sector professionals in the delivery of services and in instilling and inculcating a spirit of excellence into our industry."

The initiative was announced at an event hosted by the Bahamas Institute of Chartered Accountants. She said the Center has the potential to serve as a "beacon" to the wider Caribbean region, as a premier financial services centre for learning, research, product development, and networking.

Speaking of further initiatives, Strachan said: "We are in the process of developing a research and planning unit. We expect that, in the coming months and years ahead, staff who are assigned to this unit will be trained and equipped to monitor markets and movements in the sector, to anticipate events or happenings which will impact the industry, and advise on necessary changes which might be needed in the law to cause us to remain compliant and competitive."

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