The Bahamas: Selected Issues

October 6, 2017

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Format: Chicago

The Bahamas: Selected Issues, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

This Selected Issues paper assesses the recent trends in The Bahamas’ offshore financial center (OFC) and their contribution to the real economy. The Bahamas hosts one of the largest OFCs in the world. International banks are the most important institutions in the Bahamian OFC. Despite a sharp contraction in the size of the offshore sector, the direct impact on the real economy appears to have been modest. The direct contribution of offshore banks to the real economy appears to have remained broadly stable, reflecting an orderly adjustment so far. Strong compliance with anti–money laundering and combating the financing of terrorism and tax transparency standards should help ensure that this orderly adjustment continues.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Correspondent banking, Crime, Financial institutions, Financial services, International banking, Mutual funds, Offshore financial centers

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Bahamas, Bank, Central bank, Central bank of The Bahamas, Central bank publication, CFT regime, Correspondent banking, CR, Global, International banking, ISCR, Mutual funds, Offshore financial centers, Respondent bank, Transmission business, Wealth management tool

Publication Details

Pages:

12
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/315
Stock No:

1BHSEA2017002
ISBN:

9781484323113
ISSN:

1934-7685

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