Guidelines for Countering Proliferation Financing

Published: Tuesday August 5th, 2025

The Central Bank of The Bahamas (“the Central Bank”), as a member of the Group of Financial Services Regulators (“GFSR”), hereby notifies its supervised financial institutions (“SFIs”) of the GFSR’s publication of the updated Guidance Notes on Proliferation and Proliferation Financing (“the Guidance Notes”).

Since 2018, The Bahamas has made significant enhancements to its counter-proliferation financing framework, including amendments to key legislation such as the Anti-Terrorism Act, the Financial Transactions Reporting Act, and the Proceeds of Crime Act. In addition, the Financial Action Task Force (“FATF”) has updated its standards and recommendations related to proliferation financing.

The updated Guidance Notes are intended to assist SFIs in understanding and managing proliferation financing risks, in alignment with current legal requirements and international best practices. Additionally, they outline SFIs responsibilities and the Central Bank’s expectations under the enhanced framework.

SFIs are required to review and incorporate the updated Guidance Notes into their risk management and compliance programs as soon as possible.