Dave Smith has been appointed managing director of The Bahamas Development Bank (BDB) now in its 40th year.

Announcing the appointment, the Ministry of Finance said that the bank plays an important role in the government’s concentrated push to build a culture of entrepreneurship and to support small business.

Smith has already commenced work to strengthen the bank’s relationship with local, regional and international partners, and to promote the message of empowering Bahamians for business ownership.

Smith said: “I look forward to serving in this position and continuing the planned activities this year to commemorate the Bank’s 40 year anniversary. We will forge ahead with executing our strategic plan. At the same time, we also look at fulfilling the government’s mandate to examine some of the legacy issues that require focused attention and reform. This will include a few new initiatives we are exploring. As we implement these various activities we will certainly keep the public up to date.”

“I also look forward to continuing the collaboration with our many partners such as the Caribbean Development Bank, various government ministries and industry associations to execute the principal functions of the bank which are to: promote industrial, agricultural and commercial development via financing and investing in approved enterprises; encourage citizens of The Bahamas to participate in business ownership, and promoting economic development of The Bahamas.”

Smith is a Certified Public Accountant and holds Bachelor’s and Master’s Degrees in Business Administration from Taylor University, Upland, Indiana. He is a Fellow of The Bahamas Institute of Financial Services (BIFS).