Turnpage

Please visit our sponsors

RSS Feed
 

Current News & Press

 

Advertisement

The Bahamas Investor

News & Press Archives

 
The Bahamas Investor on facebookFollow The Bahamas Investor on TwitterSubscribe to RSS feeds from The Bahamas Investor
HOME > 
News & Press > 
FS Ministry to host arbitration workshop

The Ministry of Financial Services is stepping up efforts to create an international arbitration hub in The Bahamas, hosting a three-day workshop and continuing with plans to review and amend the relevant legislation. Pictured: Minister of Financial Services Hope Strachan. (Stock photo)

Source:
Date:
Updated:
Author:
TheBahamasInvestor.com
Monday, January 25, 2016
Monday, January 25, 2016
Catherine Morris

The Ministry of Financial Services is stepping up efforts to create an international arbitration hub in The Bahamas, hosting a three-day workshop and continuing with plans to review and amend the relevant legislation.

“The time is right for accelerating our efforts to establish The Bahamas as a commercial arbitration hub,” said Minister of Financial Services Hope Strachan, speaking at the 4th Annual Arbitration and Investment Summit held at the College of The Bahamas last week. “These are exciting times. We have taken the bull by the horns and are now actively engaged with the private sector. This is a long time dream of many professionals [and] we are moving strategically to build an industry of which we can all be proud.”


“It will not happen overnight but it is within our grasp.”

The Ministry is hosting the three-day workshop from March 30 to April 1, 2016, which will offer a range of training sessions. Strachan said the government has a “laser focus” on building capacity throughout the sector and stressed the importance of “equipping and training practitioners to the highest degree possible.”

The Bahamas’ currently relies on the 2009 Arbitration Act but Minister Strachan indicated that a review of this legislation is currently underway to modernize the country’s regulatory framework.

She emphasized the opportunities available through arbitration, particularly international investment disputes with a focus on emerging markets and the maritime sector.

“We need to diversify our economy if we want to survive,” she continued. “There is a critical need to find new and innovative avenues. We in The Bahamas are fortunate to have a well established financial services industry. The convergence of these circumstances – the need to diversify [and] our financial services industry – creates an ideal environment for the establishment of The Bahamas as an arbitration hub.”

cmorris@dupuch.com

The world's best female golfers will compete at the Ocean Club Golf Course January 21-31 in the Pure Silk LPGA Classic. Watch a Tourism Today report about the lead-up to the event here.

Public Private Partnerships can help The Bahamas achieve its economic goals, set out in the country's National Development Plan, and foster better cooperation between the public and private sector according to Prime Minister Perry Christie.

The Bahamas Investor
Administrative Links
  


  © 2017 ETIENNE DUPUCH JR PUBLICATIONS LTD