Fresh from promotional trips to Brazil and Panama, the Minister of Financial Services has spoken of the need to target emerging markets in Latin America, and for The Bahamas to fulfill its potential as the “avenue to the Americas.”

Minister of Financial Services Ryan Pinder, who represented The Bahamas at financial conferences in Latin America earlier this month, said exploring new areas in the region would help his ministry meet its mandate “to create new financial products, to seek out new linkages and new opportunities to work with international partners.”

Giving opening remarks at the Nassau Conference, held at the British Colonial Hilton in Nassau today, Minister Pinder said he would focus on Latin America and new areas of economic growth.

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Anthony Stuart, general manager at the Ministry of Tourism Bimini office, says that second-home owners on the Family Island are vital to the local economy and promotion of the island as a tourist destination. Watch an address by Stuart here.

The $3.5 billion Baha Mar Resort is the largest project under development in the western hemisphere.

Orlando, FL. (PRWEB) October 09, 2012 – The islands of the Bahamas are rapidly emerging as the new frontier for real estate development, according to Kevin Dickenson, a Palm Beach Realtor. China struck a deal to build and finance the largest resort in the Western hemisphere at $3.5 billion and announced it will pump $6.3 billion into Caribbean governments. Resort developers and celebrities are acquiring the finest Bahamas real estate.

China is busy acquiring and developing Bahamas real estate, according to Kevin Dickenson of Prudential Florida Realty. The islands of the Bahamas are an increasingly popular destination for Floridians because you can jump in your yacht on Palm Beach at sunrise and tie up at West End for lunch or take a plane if you want to land in paradise within the hour. The islands are famous for miles of secluded pink sand beaches that entice fisherman, mega yacht owners, sunbathers, scuba divers and Sports Illustrated swimsuit models alike.

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As part of its Business Seminar Series, the Bahamas Financial Services Board (BFSB) will host a symposium on the Foreign Account Tax Compliance Act (FATCA) October 29, 2012, in collaboration with the Ministry of Financial Services and the Professional Industry Associations (PIAs), which are part of its Professional Industry Association Working Group (PIAWG).

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Executives at Atlantis Paradise Island resort say that they expect to begin a $22 million upgrade of the facilities in early November. Watch a ZNS news report here.
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The Ministry of Financial Services, in conjunction with the African Caribbean and Pacific Multilateral System (ACP MTS) Programme, will facilitate a workshop series on the General Agreement on Trade in Services (GATS), October 8-11, 2012, at the British Colonial Hilton.

GATS is an agreement of the World Trade Organization (WTO).

The morning session for the workshop series will be held from 9 am to noon, with Minister of Financial Services Ryan Pinder and Chairman of the Bahamas Trade Commission Philip Galanis bringing remarks. The afternoon session will be held 2-5 pm.

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The government has unveiled $1 million infrastructure plans for Abaco, ahead of a by-election on the Family Island. Watch an address by Prime Minister Perry Christie here.
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The Basel Committee on Banking Supervision is set to release its latest incarnation of the Basel banking regulations, Basel III, in 2013 and the Bahamas Institute of Financial Services (BIFS) is urging the financial community to keep abreast of the changes.

The BIFS hosted a one-day seminar on the regulations this week and president Kim Bodie told attendees: “We are living in an environment where there are constant changes in financial services. Here we are again, talking about a new set of guidelines and laws that govern us.”

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LAS VEGAS, Oct. 4, 2012 /PRNewswire/ — Members of the Gaming Board for the Commonwealth of The Bahamas (GBB) and The Bahamas Hotel Association Casino Committee on a fact-finding mission at the Global Gaming Expo 2012 (G2E), the industry’s largest conference and trade show. The delegation took part in the event’s sessions and workshops as part of a joint public- and private-sector effort to modernize The Bahamas’ gaming regulations. The Bahamas government is spearheading the effort in order to keep The Bahamas at the forefront of the world’s destination casino markets.

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The Bahamas Investment and Securities Business Association (BISBA) held its inaugural Continuing Professional Education Seminar October 1 under the topic “New Products and Regulations in the Bahamian Financial Services Industry.”

The association, formerly known as the Bahamas Association of Securities Dealers (BASD), has broadened its scope in order to promote the various sectors of the financial services industry inadequately covered among the existing associations, such as fund administrators and independent financial advisors.

Minister of Financial Services Ryan Pinder gave the opening address, outlining government plans to preserve The Bahamas’s standing as a well regulated, but innovative international financial centre.

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