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International Banks

Financial Statistics

The Bank Supervision Department publishes on a quarterly basis, aggregate data on the size and structure of the banking system. Currently, the financial data is segmented across two broad categories i.e., ‘International Banks’ and ‘Commercial Banks’.

International Banks

An international bank is an entity permitted to carry on banking and/or trust business with members of the public. The institution's exchange control designation determines whether the licensee is 'resident' or 'nonresident'. A bank which is designated as 'Resident' allows a bank or trust company to deal only in Bahamian dollars and all operations in foreign currencies require Exchange Control's authorization. Trust companies with resident status are allowed to deal in foreign securities on behalf of nonresident customers. A bank which is designated as 'Nonresident' permits a bank and/or trust company to operate freely in foreign currencies, however, Exchange Control approval is necessary to operate a Bahamian dollar account to pay local expenses.