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Policies and Guidance Notes

Pursuant to The Banks and Trust Companies Regulation Act, 2000, and the Central Bank of The Bahamas Act, 2000, the Central Bank is responsible for the licensing, regulation and supervision of banks and trust companies operating in and from within The Bahamas. As such, all licensees are expected to adhere to the Central Bank's licensing and prudential requirements and ongoing supervisory programmes, including periodic onsite inspections, and required regulatory reporting.

From time to time, the Central Bank will issue policies to provide further clarity and guidance to licensees with regards to industry best practices. For your convenience, these policies are listed below in reverse chronological order.

  Document Title Date Issued
Administrative Monetary Penalties for Supervised Financial Institutions under The Bahamas' Anti-Money-Laundering and Countering Terrorist Financing Regime 2018-12-14
Guidance Notes on Managing Financial Crime Risk and Proliferation and Proliferation Financing 2018-08-21
Board Engagement Policy for Supervised Financial Institutions (SFIs) 2018-07-24
Guidance Note on Streamlined Requirements for Account Opening, Provision of Financial Services and Customer Identification 2018-06-20
Restricted Bank Licences 2016-10-19
The Relationship between External Auditors of Licensees and the Central Bank 2011-12-14
Notice: Supervision of Nominee Activities of Subsidiaries and Related Companies of Banks and Trust Companies 2011-04-18
Notice - Annual Publication of Audited Financial Statements 2011-02-08
Guidance Notice: Waiver of Minimum Number of Shareholders Requirement for Applicants for a Restricted Bank and/or Trust Company Licence 2010-11-17
Dormant Account Reporting to the Central Bank 2009-02-17
Additional Explanation: Supervision of Nominee Activities of Subsidiaries and Related Companies of Banks and Trust Companies [GN: 01-03/08] 2008-03-14
Supervision of Nominee Activities of Subsidiaries and Related Companies of Banks and Trust Companies (Revised) : (GN:1 - 06/07 rev. [07/07]) 2007-06-12
Guidance Note on Section (7) of the BTCRA (Prohibited Words) 2007-04-27
Exemption of Private Trust Companies (PTCs) from BTCRA 6(1) 2007-04-20
Reliance on Third Parties To Conduct KYC on Customers 2007-01-30