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Financial Return for Money Transmission Businesses

Published: Tuesday December 18th, 2018
Amended: Wednesday January 8th, 2020

In our continuing effort to enhance and streamline the data compilation and regulatory surveillance processes, the Central Bank of The Bahamas (the Central Bank) has revamped the reporting suite of forms for Money Transmission Businesses. In addition, we have revised and amended the accompanying guidance notes, which we provide for review and feedback.

Online Reporting

Effective March 31, 2019, the Central Bank will no longer accept submissions via e-mail. All submissions from this point forward are required to be submitted via the Online Reporting Information Management System (ORIMS) and in the new template format. The solution will have the following key features:

  • A mechanism for the downloading and subsequent uploading of returns through a secure web-based platform.
  • Built-in validation and integrity checks at the form submission level, prior to entering the data warehouse.
  • A more user-friendly platform and a centralized data warehouse.
  • Analysis and reporting tools which:
    • require minimal IT assistance;
    • permit trend and peer analysis, and queries based on certain flexible criteria; and
    • support the Bank's internal and external dissemination efforts.

Feedback on the Guidance Notes and reporting forms should be submitted by January 18, 2019.