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Chamber of Commerce, BECon unite

A new entity, launched New Year’s Day, combines resources of two organizations to increase effectiveness, and strengthen advocacy for local businesses. 

Friday, January 7, 2011
Friday, January 7, 2011

On January 1, 2011, the Employers Confederation (BECon) and the Bahamas Chamber of Commerce (BCOC) consolidated to form one organization.

The new entity, called the Bahamas Chamber of Commerce and Employers Confederation (BCCEC), became the only national private sector advocacy organization whose membership is open to all employers and businesses in The Bahamas, regardless of size or sector.

It is hoped that combining resources will result in greater effectiveness and efficiency, creating a stronger more relevant organization, according to organizers.

BECon “wound up” in accordance with Article 8 of its Constitution, with effect at midnight on December 31, 2010.

In accordance with Article 79 of its Constitution, all of the assets and liabilities of the BECon were turned over to BCCEC, which came into force on New Year’s Day.

However, BECon’s bank account is expected to remain open for a period of time up to April 15, 2011. The account will be used to conduct the normal business of BECon regarding accounts receivables and payables only to the extent that those items were on its books as of December 31, 2010.

Upon the closing of BECon’s bank account, any remaining monies will be made payable to BCCEC.

The new entity will represent the entire business community, serving as the consolidated and unequivocal voice of the private sector. It is expected to make advocacy for the private sector more visible, vocal and stronger, giving it a greater capacity to influence economic and social policies.

Upon its January 1 launch, the officers of BCCEC were named as: chairman Khaalis Rolle; vice chairman Gershan Major; treasurer Yvette Sands; secretary Chester Cooper; and chief executive officer Winston Rolle.

BCCEC consists of twelve divisions. Each division will be chaired by a director, except for the CEO division, which will be chaired by the chief executive officer.

The BCCEC divisions are as follows:

• Education & Training Division, which includes the Chamber Institute and HR

• Business Development Division, which includes Marketing, PR &
Communications, Events & Activities, and Services & Needs Analysis;

• Employment & Labour Relations Division, which includes International Liaison
and Help Desk;

• Finance Division, which includes Finance & Budget Committee and Audit;

• Fund Raising Division, which includes International Funding and Donations;

• Trade & Commerce Division, which includes the Public Policy & Legislation
Division, International Liaison, Trade Agreements, and Regulatory Framework
& Process;

• CEO Division, which includes Operations & Administration, Administrative
Support, Community & Government Liaison, Job Search/Placement, Membership,

• Small & Medium Sized Business Enterprise Division, which includes Donor
Funded Projects;

• Young Professionals Organization;

• Energy & Environment Division;

• Business Security & Crime Prevention; and

• Family Island Development.

For more information on the merger pick up the latest issue of The Bahamas Investor.

The Central Bank of The Bahamas is set to lay down the revised guidelines for the standards and requirements that licensees must adhere to. The Central Bank has also announced that the consultation period is now over.

Targeting wealth management, investment funds, captive insurance events and conferences, the Bahamas Financial Services Board travelled the world in 2010, promoting the jurisdiction to specific markets.

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