Speaking at the recent STEP Caribbean Conference at the Atlantis Resort, Prime Minister of The Bahamas, The Rt. Hon. Perry G. Christie, M.P., expressed optimism about the future of the financial services sector. He said the “possibilities for financial services” in today’s world, even with all of the international challenges, remain wide open to exploration. “I am convinced that the future is bright. However, the path to discovering these possibilities requires boldness and creativity in your actions, coupled with a collaborative approach in government policy.“ His full remarks are available for download here.
The Hon. L. Ryan Pinder, M.P., Minister of Financial Services also addressed STEP Caribbean delegates, speaking to the “end game and strategies for winning” amidst the ever changing regulatory landscape. The Minister said there are opportunities and a clear avenue to growth despite the fast paced and revolutionary changes in international standards in the industry. “I also believe, however, that a jurisdiction and industry needs five key features to ensure success." These five key ingredients, he said, are:
- Independence and Sovereignty;
- Diversity of offerings - Substance over form;
- Sound Regulation and Reputation;
- New Product Development; and
- Sustained Engagement.
The Minister affirmed that he was of the firm belief that The Bahamas has all 5 ingredients for success and growth in this challenging international environment.
STEP Caribbean Conference - MoFS Presentation