Managers of Wealth Offshore

Central Bank has received info on financial system’s FTX exposure

The implosion of FTX and its local subsidiary, FTX Digital Markets is not believed to pose any widespread risk to the country’s financial system.

‘Urgent measures’ needed to close gender pay gap – report

The Fawcett Society said its research showed that during 2022 women will, on average, take home £564 less than men each month, up from £536 in 2021.

Regulation of credit and consumer business in the Bailiwick

The LCF Law also regulates 'services ancillary to credit' including assisting by undertaking preparatory work

A Caribbean-Africa partnership is happening finally, and it’s a terrific development

The MoU signing between Africa Import-Export Bank and the Ministry of Bahamas seems to be a good beginning to new relations with like-minded countries which are bearing the brunt of Western diktats

Banking & Finance Trends & Developments in The Bahamas

Their article focused on the trends and developments of the Banking & Finance sector in The Bahamas.

Irish government finalises terms and conditions for offshore wind auctions

Generators are likely to welcome the extension of the period of support from 15 years to 20 years.

Belize is going to be completely taken over by US in next 10 years

According to a report, Belize will promote the digitalization of companies and government services and boost local economic growth, financed by a $10 million loan from the Inter-American Development Bank

FTX suggests Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy: Filing

The accusations were made by FTX in a motion in the United States Bankruptcy Court in Delaware.

Electing a new IDB president

Its membership includes several donor countries which, by virtue of their contributions and shares, hold just over 50 per cent of its voting power.

Persevere: DPM says he’s confident country will pivot from FTX fall-out

The Supreme Court approved Kevin Cambridge and Peter Greaves of PricewaterhouseCoopers (PwC) as joint provisional liquidators for FTX Digital Markets.

Proposal to scrap Guernsey's zero-10 tax system

"This is just inequitable and the zero rate damages our reputation internationally."

AGML Bermuda all set to write Lloyd’s business

Antares comprises the international operations of Qatar Insurance Group, including its reinsurance and Lloyd’s insurance arms (and wholly owned subsidiaries).

Guernsey Economic & Financial Crime Bureau now enshrined in Law

The FIU, formerly part of Bailiwick Law Enforcement, now falls under the umbrella of the EFCB though retains its operational independence.

Amid global meltdown, St Kitts and Nevis says it does not accept crypto for citizenship program

Says cryptocurrency must be liquidated into fiat currency and transferred via registered bank

Deloitte wins $200K contract to develop public transport plan

Tourism and Transport Minister Kenneth Bryan confirmed that work has begun on the project.

Bitcoin Cash Could Be Legal Tender in St. Kitts by March, Prime Minister Says

The Caribbean nation could join El Salvador and the Central African Republic in backing crypto.

GDPR: December Deadline on Rule Changes for Ex-EU Data Transfer Arrangements

Organisations should now review their existing data transfer arrangements and develop an action plan for transitioning to the New SCCs before the December 2022 deadline.

Sound and Stable: Central Bank report says domestic financial system strong

The report further assessed that there is “no immediate risk” to financial stability within the banking system, given the commercial banks’ high capital buffers and satisfactory provisioning levels.

Bermuda-linked company caught up in turmoil of FTX collapse

The pause, and a subsequent suspension of its lending licence by California regulators, came after distressed crypto trading platform FTX Trading Ltd collapsed into bankruptcy last week.

Central Bank aims to expand merchant network for greater Sand Dollar adoption

Rolle noted that expanding the merchant network is important to accelerated adoption.

Regulation, Risk & Compliance