In its role as Controller of Exchange in The Bahamas, and in line with its commitment to conduct periodic reviews of Exchange Controls, the Central Bank, after consultation with the Government, has announced additional liberalisation of measures and processes governing capital account (investments and borrowing) and current account (trade) transactions.

The current account items involve increased delegated authority for Commercial Banks and Money Transmission Businesses (MTBs), in respect of imports, education-related remittances, small gifts to non-residents and transfers outside The Bahamas by work permit holders. On the capital side, areas affected include investments abroad, and borrowing inside The Bahamas by temporary residents and work permit holders.

These measures take effect on April 1st, 2016.

• Download Relaxation of Exchange Control for Current and Capital Account Items April, 2016

• Download Revised Schedule for Capital Account Transactions April, 2016

• Download Revised Schedule for Current Account Transactions April, 2016

During the month of April, the Central Bank will conduct a series of seminars with commercial banks and MTBS to ensure a smooth and swift transition to the enhanced regime.

A Statement from the Government of the Central Bank indicated that the Bank will continue its review of the Exchange Control regime, and recommend enhancements to the Government, as appropriate and prudent, to enhance operational efficiency and effectiveness.