ARTICLE
20 August 2024

Industry Development

BF
Bahamas Financial Services Board

Contributor

The Bahamas Financial Services Board (BFSB), launched in April 1998, represents an innovative commitment by the financial services industry and the Government of The Bahamas to promote a greater awareness of The Bahamas’ strengths as an international financial centre. The Board is a multidisciplinary body that embraces active contribution from individuals within government, banking, trust and investment advisory services, insurance and investment fund administration as well as interested legal, accounting and management professionals.
The year's first half has been marked by impactful events designed to advance the financial services sector and foster professional growth.
Bahamas Finance and Banking
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The year's first half has been marked by impactful events designed to advance the financial services sector and foster professional growth. Highlights include:

Financial Crime Enforcement Across Borders Seminar

On February 22nd, 2024, BFSB hosted its 4th Annual Industry Development Series at Margaritaville Beach Resort in Nassau. This seminar, organized with Kostelanetz LLP and AlixPartners, attracted industry professionals eager to learn about the latest trends in combating financial crime.

The event emphasized the importance of remaining abreast of international regulatory requirements, reinforcing The Bahamas' dedication to preventing financial and tax crimes. It also emphasized the nation's unwavering commitment to upholding its reputation as a transparent, cooperative, and well-regulated international financial center.

Mid-Year Industry Briefing

On May 15th, 2024, BFSB hosted its mid-year industry briefing at the Baha Mar Convention Center. This event underscored the importance of collaboration and dialogue within the sector, providing valuable insights and reinforcing stakeholders' collective resolve. Attendees left ready to embrace the challenges and opportunities ahead.

Fintech Webinar: "The Future of FinTech"

On Friday, May 17th, the BFSB hosted an engaging webinar titled "The Future of FinTech," featuring experts from Quantfury, KPMG, Securities Commission, Liongate, and Higgs & Johnson. This event is a part of BFSB's ongoing efforts to educate and inform industry professionals about emerging trends. It examined key trends and innovations shaping the financial technology landscape.

The webinar on "The Future of FinTech" successfully illuminated the multifaceted nature of fintech, offering attendees a comprehensive understanding of its current state and future trajectory. Moving forward, events like this will play an important role in fostering knowledge, collaboration, and innovation, ensuring that professionals are well-equipped to navigate the challenges and opportunities ahead.

Upcoming Event: Suzanne Black - Student of the Year Award

This annual award underscores the importance of nurturing the next generation of financial professionals and reinforces BFSB's dedication to maintaining a vibrant and dynamic financial services sector. The award is open to students from various disciplines related to financial services, and the selection process is highly competitive. Candidates must be well-rounded individuals with a proven track record of academic excellence. Additionally, they must submit a 1500-word essay showcasing their understanding and insights into the financial services industry. The winner of this distinguished award will receive a $5,000 investment prize, a testament to their hard work and dedication.

The Student of the Year award is a collaborative effort involving BFSB, the University of the Bahamas, AIBT, and the CFAL Group of Companies. This partnership underscores the importance of fostering academic excellence and professional development within the Bahamian financial services industry.

The Suzanne Black - Student of the Year award will be presented on September 17th, 2024, during the Association of International Banks and Trust Companies (AIBT) Nassau Conference Bootcamp, adding a layer of significance to an already momentous occasion.

Reflecting on the first half of 2024, we are pleased with how our events have facilitated knowledge sharing and fostered collaboration within the industry. Together, we will advance our mission and reinforce The Bahamas' stature as a premier global financial hub.

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