The Bahamas Investor

...says Bahamas Financial Services Board (BFSB) chief executive officer Aliya Allen. Speaking at the 3rd Caribbean Conference on the International Financial Services Sector yesterday, Allen told participants that a greater burden of compliance has put pressure on IFCs since the financial crisis of 2008 and offshore jurisdictions such as The Bahamas need to be strategic in how they attract, and cater to, new business. “Going forward, small Caribbean s......

...g upon these platforms is key to staying ahead of the game.” Speaking of challenges facing the sector this year, the BFSB head said tax regulation would continue to be an issue. “Regulation such as tax continues to be a major driver and shaper of the financial world. The question of who was paying their fair share was probably one of the biggest stories of 2012. Tax became a hot button issue.” The BFSB has focused heavily on international markets......

...ief executive officer of the Bahamas Financial Services Board (BFSB) Aliya Allen has spoken out against the negative portrayal of offshore financial centres, saying the economic downturn unfairly stigmatized international financial centres (IFCs) such as The Bahamas. “We are seeing a sustained effort to eradicate tax competition,” she said. “The financial crisis was a big game changer.” The BFSB director suggested that politicians were using the f......

Aliya Allen (pictured), chief executive officer of the Bahamas Financial Services Board (BFSB), has announced that wealth management, the funds industry and the insurance sector will be the focus of the organization’s 2013 marketing calendar. This year’s external communications and marketing outreach begins in earnest this month, when BFSB will be in Palm Springs, California for CICA–a major international insurance conference. Conference particip......

...lity, diversification is still an important goal for many investors”, said Allen addressing the participants comprising many of the top legal, family office and tax advisory firms in Miami. “Historic levels of inflation in many countries and the fact that appropriation of property is still a very real concern ensure that this will remain a priority. Access to capital markets and to investments outside of one’s home country will continue to drive t......

...ts of BFSB’s work last year. According to CEO and Executive Director Aliya Allen (right) the priority that BFSB placed on the product’s development and introduction reflects the success that can be achieved through a combination of relationships with international advisors, strategic product innovation, public and private sector partnership, and aggressive promotion. “The ICON is a unique tool allowing participants to agree to invest collectively......

...tings for a captive are usually held in the domicile of choice,” she said. Allen noted that a session on cell captives that was held during the conference was of particular interest because of the recent growth of cell captives in The Bahamas. “This is largely driven by the ability of a cell captive to mix the benefits of a standalone captive with the benefits of a group captive: control and economies of scale,” she said. Allen added that there ar......

...clearly understood and embraced.” BFSB’s CEO and Executive Director Aliya Allen (pictured) said the Board’s highly successful Bahamas Landfall events provide a strong focal point for member firms to provide a common message about the advantages of doing business in The Bahamas while at same time creating networking opportunities. “Relationships are at the very core of the financial services industry, particularly in a country like Brazil” said Ms......

...the increasing importance of Miami as a hub for Latin America,” said Aliya Allen, the chief executive officer and executive director of BFSB–a quasi-government agency whose job it is to promote the nation’s second largest industry to the world. “We thought that there were synergies that could be exploited between what you offer and what we offer in terms of wealth management services,” Allen told the select gathering during the brief presentation,......

...Insurance Education Association (IEA) . BFSB chief executive officer Aliya Allen points out that the initiative is being undertaken in collaboration with the Bahamas Insurance Association and the Insurance Institute of The Bahamas , who will also form part of the evaluation committee for selecting scholarship recipients. “Especially targeted are those persons who are interested in the captives sector and who have an intention to work in or to assi......

...past chief executive officer of the Bahamas Financial Services Board Aliya Allen says that the acknowledgement of The Bahamas as a viable location for currency trading is a reflection of its good standing with its Chinese partners. “Though details are being negotiated, The Bahamas is set to become only the second recognized hub for RMB trading and settlement in the Americas. This acknowledges not only the strength of the diplomatic relationship an......

...sia. “The Asian market holds enormous promise for The Bahamas,” says Aliya Allen, BFSB’s chief executive officer and executive director. “The number of high-net-worth individuals (HNWIs) and families in China has exploded in the past ten years, and like those in other parts of the world, they have a wide range of choices of jurisdictions for their wealth planning needs.” “But unlike HNWIs and families in markets where The Bahamas has a historic pr......

...the event. Bahamas Financial Services Board chief executive officer Aliya Allen, Minister of Financial Services Ryan Pinder, and Michelle Neville-Clarke of Lennox Paton will provide an update on the wealth and asset management services and products in The Bahamas, including the new Investment Condominium launched in August. Allen says: “BFSB has chosen to partner with Latin Markets in Miami, as well as in the region, because its platform provides......

...he trainers–joined by Linda Beidler-D’Aguilar of Graham Thompson and Aliya Allen, BFSB’s chief executive officer. Joining the team of Companies Department personnel were acting registrar general Deirdre Clarke-Maycock, assistant registrar Dellereese Grant and Donna Lightbourne, department supervisor. The Bahamas ICON, an alternative structure for investment funds, continues the financial services sector’s commitment to “bringing to market” client......

...014 Gala Awards Banquet on November 14. BFSB chief executive officer Aliya Allen extends personal congratulations to Virgil who has contributed to the development of persons in the industry through guidance and advice and by example. Allen indicates that BFSB looks forward to engaging him, as it rolls out the mentoring component of its latest initiative – the Bahamas Millennials Society, a membership-based programme for young professionals within......