Information Sharing
The Bahamas International Securities Exchange (BISX) reports that it has established a mutual "information sharing" relationship with Reuters, one of the world’s largest international multi-media news agency.
As part of efforts to broaden its presence in The Bahamas through the provision of various financial and news media data services, Reuters has decided to work closely with BISX to receive its market data and to disseminate it throughout the world.
The establishment of such a relationship is in keeping with BISX's intention to expose the Bahamian capital markets to the international investing community. "As we develop our capital market, there will come a time when our markets will begin to open up to the world at large, says Keith Davies, Acting Chief Executive Officer of BISX. He continued, ” We believe that now is the time to be proactive and to educate and inform the world about our securities industry. When the time comes for international investors to consider investing in the capital markets in The Bahamas, BISX would have already established a credible international link where historical and current financial market data can be retrieved. This partnership between BISX and Reuters is truly a significant step forward for The Bahamas and the Exchange."
Impressive Growth Record
Cable Bahamas Ltd. has announced a 37.22% increase in net income for the second quarter of the year. Net revenues during the same period reportedly grew by 18.33%.
The broadband provider has been supplying Internet service in The Bahamas since March 2000, having previously entered the cable television market here in March 1995. It now boasts a high capacity, fibre-rich network throughout all the major population centres in The Bahamas, a world-class, state-of-the-art submarine fibre optic cable system linking the four major northern islands of The Bahamas (New Providence, Grand Bahama, Eleuthera and Abaco) to North America.
The company says that by creating a multi-functional high bandwidth network from its foundational design, it has left open a myriad of possibilities for future developments and expansion into new markets in The Bahamas, as well as The Caribbean and Latin American regions.
Promoting Bilingual Professionals
Grupo Santander is offering a scholarship for a Bachelor’s Degree in Spanish at the College of The Bahamas. The company says it wants to make a positive contribution to the local community by encouraging Bahamians to embrace Spanish as a second language, providing the opportunity for careers in senior positions in the financial sector. Santander Bank & Trust (Bahamas) Ltd. , wholly owned by Grupo Santander of Spain is an offshore bank duly licensed by the Central Bank of The Bahamas.
Candidates must select Spanish along with any banking related field as their major.
Online Banking Developments
Bank of The Bahamas International has launched comprehensive online banking, promising customers they will save more than time - they also will save money by enjoying reduced loan costs and other fees.
"The whole idea of bringing technology to bear is to make it more convenient for the customer," said Paul McWeeney, Managing Director of bank which now boasts branches throughout the islands and some $380 million in assets. "With online banking, you can now save money buying a house, for instance. By completing a loan application on line, you benefit from reduced arrangement or commitment fees."
Many of the functions are unique to Bank of The Bahamas, either on its website where customers can plug in key numbers and determine instantly whether or not they qualify for a loan or through online banking where they can handle financial matters as routine as reviewing their account or as sophisticated as applying for a mortgage.
"We have focused a lot of resources on the development of our online banking with the aim of making it the most comprehensive in The Bahamas and, indeed, in much of the region,"said Tanya Wright. Manager of Bank of the Bahamas Trust. "Many of our services are unique and we believe they will truly free up our customers' time." In addition to the traditional uses like reviewing account history and balance, clients can apply for US dollars or other foreign currency, order new cheques, apply for a US dollar draft or Bank Manager's cheque, request traveller's cheques and specify which branch is most convenient for them to pick them up from, make a loan payment, transfer funds, request a fixed deposit investment, place a stop payment order or receive e-mails and text messages related to their banking needs, all in a secure environment.