The Bahamas' financial services industry is "at a crossroads", according to Prime Minister Perry Christie, who believes the future of the sector lies in innovation, creativity and regional co-operation.
The Bahamas’ financial services industry is “at a crossroads”, according to Prime Minister Perry Christie, who believes the future of the sector lies in innovation, creativity and regional co-operation.
Addressing the Society of Trust and Estate Practitioners (STEP)’s annual Caribbean Conference today, the Prime Minister said: “We meet at a time when the financial services industry is at a major crossroads. The global financial crisis and the ensuing slow recovery has left an uneasy equilibrium.”
Christie spoke of the burden of international regulation, such as the US’s Foreign Account Tax Compliance Act (FATCA), as well as “ever present domestic challenges” as some of the obstacles facing the sector. but added that he remained optimistic in the long term.
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