The Central Bank of The Bahamas - Latest News - https://www.centralbankbahamas.comLatest NewsThyme Online Feeder 1.0en-usBahamas Registered Stock Secondary Market Offering Prospectus - June 2019

Secondary Market Release Term Sheet

Bahamas Registered Stock 2026

Terms Released: 20 June 2019

Security Details Secondary Market Details
Security Type: Bond Amount Released: $15,000,000
Security ID: BGR114021 Release Opens: 24 June 2019 (9:30 a.m.)
Issuer: Bahamas Government Release Closes: 25 June 2019 (3:00 p.m.)
Registrar: Central Bank of The Bahamas Value Date: 26 June 2019
Issue Date: 19 December 2016 Last Interest Payment: 19 June 2019
Maturity Date: 19 December 2021 Days Interest Due: 7
Original Tenor: 5 Years Accrued Interest per Bond: $0.071918
Coupon: 3.75% Price per Bond: $102.3161
Calendar: Actual/365 Price Date: 15-Jun-19
Interest: Semiannually Face Value: $100
Unit: $100 Minimum Purchase: 1 Unit ($100)

The security's offering's allocation will be on a "first come, first serve" basis.
The Central Bank reserves the right to offer additional securities for sale in the event of an oversubscription.


You buy 100 bonds ($10,000 face value)
Step 1: Calculate accrued interest (100 bonds x $0.071918 = $7.191781)
Step 2: Calculate principal cost (100 bonds x $102.3161 = $10,231.61)
Step 3: Calculate total due ($7.191781 + $10,231.61 = $10,238.801781)
Be Cybersmart and Get Involved - The 6th Annual #CBOBInfoSecAwareness Week Security Awareness Week & Technical Expo Central Bank of The Bahamas June 25th - 27th, 2019 The Central Bank of The Bahamas is pleased to announce its 6th Annual Information Security Awareness Week, under the theme, "Be Secure: at Home, at Work, at Play." With the rapidly evolving digital space, the Bank believes that information security is our shared responsibility, and it is an integral part of building a strong cybersecurity workforce to better protect families, communities, businesses, and the country's infrastructure. Of equal importance is the need to develop an awareness, among employees and the general public, of the need for confidentiality and integrity in access and use of data. The goal of this event is to provide participants with the knowledge to protect information systems and sensitive data from cybersecurity threats. Additionally, we aim to promote industry standards and best practices, while providing the necessary tools to be more secure online. Through this event, the Bank highlights its commitment to information security awareness, data protection, education and building awareness around the broad array of cybersecurity risks. This year, the Bank introduced Cybersecurity Teens' Day to its agenda of events. This half-day program is intended to increase the awareness of cybersecurity threats and is designed to teach our young people the behaviours required to maintain a healthy digital lifestyle. The program content includes cyber threats, online safety, social media etiquette, cybersecurity careers, and more. The week will culminate with an information security fair and technical expo, with information security vendors discussing the latest technologies and cybersecurity trends. For more information on the list of events and to register for Cybersecurity Teens' Day please visit our website at Registered Stock Repricing June 2019 Registered Stock Repricing June 2019 of BRS Availability June 2019



Prospectus Date: June 3, 2019

Issuer: Bahamas Government Open Date: June 11, 2019 (9:30 a.m.)
Registrar: Central Bank of The Bahamas Close Date: June 13, 2019 (3:00 p.m.)
Organizer: Central Bank of The Bahamas Settlement: June 17, 2019
First Int Pmt: October 15, 2019 (short)
Calendar: Actual/365
The Central Bank of The Bahamas will not accept applications after 3:00 p.m. each day.
Security ID Issue Size (B$) Unit Share (B$) Tenor (Years) Interest (Fixed) Maturity Interest Payment
BRS 129239 7,700,000.00 100 20 5.04% April 15, 2039 Semi-annual
BRS 129249 18,000,000.00 100 30 5.55% April 15, 2049 Semi-annual

Payments: Subscription amounts should be made electronically or via bank draft, payable to the Central Bank of The Bahamas only CASH PAYMENTS WILL NOT BE ACCEPTED.
Requirements: (1) Bahamian E-Passport; or (2) NIB Smart Card paired with one of the following: National Identity Card, Permanent Residence Permit, other National Passport, or Spousal Permit. New Business customers must present a list of its authorized signatories along with Memorandum/Articles of Association.
Refunds: Refunds will be made within three business days following the closing date. No interest will be paid on amounts refunded.
Certificates: Results will be made available on the Central Bank's website, and successful applicants can collect their certificates from the Central Bank 30 calendar days following settlement.
Allocation: Securities will be awarded in accordance with the Central Bank's priority level allocation process, with priority given to individual applications in amounts up to $250,000. All other applications-individuals greater than $250,000 and institutions-will will be classified as Priority Level 2 and may result in a proration in the event of an oversubscription.
Application forms may be obtained from the Central Bank of The Bahamas' offices in Nassau and Freeport or from the Central Bank's website at Additional details are also available on the website.
Project Sand Dollar Contract Signing, The Bahamas, 30th May, 2019 - "PROJECT SAND DOLLAR" The Central Bank of The Bahamas enters into an official agreement with NZIA Limited to design and implement a digital version of the Bahamian dollar. Exuma Island has been selected to pilot this digital version of the Bahamian dollar. The lessons learnt in Exuma will allow the Bank to deploy the digital currency throughout The Bahamas. This forward thinking payments system modernisation initiative is part of a strategy to provide an integrated, affordable electronic payment system for all businesses and residents. Beginning this month, the Bank will interact with the Exuma community - where we will further explain how a digital currency would work, and we will prepare both businesses and consumers for the eventual enrolment process. As the project evolves, please visit our website and social media pages for updates on this ground breaking advancement for the Bahamian people. L-R Jay Joe, Chief Executive Officer - NZIA Limited, Simon Kim, Managing Director - NZIA Limited, John Rolle, Governor - Central Bank of The Bahamas L-R Jay Joe, Chief Executive Officer - NZIA Limited, Simon Kim, Managing Director - NZIA Limited, John Rolle, Governor - Central Bank of The Bahamas Economic and Financial Developments, April 2019
Preliminary indications are that the domestic economy maintained its modest growth trajectory over the review period. Gains in stopover visitor arrivals during the Easter holiday, supported the expansion in tourism, while activity in the construction sector reflected ongoing small to medium-scale foreign investment-related projects. Domestic inflation firmed during the 12 months to February, due in part to the pass-through effects of the hike in the value added tax (VAT) rate in earlier periods. In addition, the fiscal deficit narrowed during the nine months of FY2018/2019, as the VAT-led rise in revenue overshadowed the growth in expenditure. Monetary sector developments were dominated by accelerated Bahaman dollar deposit base gains, buoyed by receipts from tourism-related inflows which contrasted with very moderate local currency credit growth. The corresponding build-up in liquidity and external reserves therefore exceeded the 2018 pace. Real Sector Tourism Indications are that tourism sector output remained buoyant over the review period, with sustained gains in both the high value-added air segment, and cruise travelers. The latest official data from the Ministry of Tourism, showed that total visitor arrivals advanced by 5.9% in March, outpacing the 3.6% gain recorded in the prior year. Specifically, the dominant sea segment firmed by 4.6%, a reversal from the previous year's 2.5% contraction, while the growth in air arrivals slowed to 9.5% from 26.1% in 2018, due in part to the late start to the Easter holiday period. By major ports of entry, total arrivals to the capital expanded by 20.9% during March, compared to a 2.6% increase a year ago, with rebounded sea traffic of 24.4% and narrowed air visitor gains of 14.1%. Reduced ports of call resulted in a 19.0% contraction in Family Island sea traffic, while air tourists softened by 1.6%. Similarly, in Grand Bahama, both air and sea visitors declined by 9.7% and 0.6%, respectively in March. For the quarter, gains in air arrivals to The Bahamas remained strong at 17.3%, after the prior period's 18.0% advance, while sea traffic rebounded from a 1.0% decline to a 10.8% expansion. Arrivals to New Providence recovered by 27.0%, after a 1.8% falloff in the prior period, as the growth in both air and sea traffic exceeded 20.0%. In contrast, visitors to Grand Bahama contracted by 19.5%, with the 21.7% reduction in sea traffic, negating the 0.6% uptick in air arrivals, while the Family Islands had a 5.8% improvement in air arrivals, which outweighed the 1.9% decrease in the high volume sea component. Indications are that the positive momentum in air arrivals was sustained during April, which captured the Easter holiday traffic. Data from the Nassau Airport Development Company Ltd. (NAD), showed an 18.3% expansion in total departures-net of domestic passengers-more than two times higher than the 7.9% gain recorded in the previous year, as growth in the U.S. segment quickened to 21.3% from 6.8%; however, the gains in the non-U.S. international component slowed to 2.8% from 14.3% in the previous period. Similarly, over the first four months of the year, aggregate departures strengthened by 21.0%, outpacing 2018's 12.1% improvement. This outturn reflected an increase in the U.S. component by 23.1%, overshadowing the prior year's 11.3% expansion. In contrast, gains in the non-U.S. segment narrowed by 5.8 percentage points to 10.4%. The increase in air visitors fueled growth in the non-hotel based vacation rental segment of the market. In this regard, data obtained from AirDNA, showed that the total number of off-resort room nights sold firmed by 31.7% in April and by 18.7% for the year-to-date, with both hotel comparable and entire place listings firming over the four months by 22.0% and 18.3%, respectively. A breakdown by market, showed that the cumulative growth in room bookings was underpinned by a 51.4% expansion in demand for accommodation in Exuma, while New Providence, Abaco and Grand Bahama, accounted for smaller increases of 14.5%, 6.8% and 2.5%, respectively. In terms of pricing, the average daily room rate (ADR) of the entire place listings-which is generally more comparable across periods-firmed by 3.8% to $398.75, due mainly to gains in room rates in Exuma; however, the ADR for hotel comparable listings declined by 6.2% to $159.24, as average prices for accommodation in Grand Bahama and New Providence contracted. Prices Amid higher international oil prices, as well as the pass-through effects of the hike in the VAT rate, domestic inflation-as measured by the All Bahamas Retail Price Index-rose by 1.2 percentage points to 2.6% during the twelve months to February. This outturn reflected mainly an acceleration in average price gains in the components for transport items, food & non-alcoholic beverages, health, restaurants & hotels and alcoholic beverages, tobacco & narcotics. Also of note were average price rises for furnishing & household equipment and clothing & footwear, compared to declines in the previous period; and continued but smaller increases for housing, water, gas and electricity and recreation & culture. In contrast, average prices declined for the communications and education components of the index. Domestic energy costs rose during April, with the average price of gasoline firming by 7.2% over the previous month, and by 8.7% vis-a-vis 2018 to $4.75 per gallon. Similarly, diesel prices were higher by 1.9% month-on-month at $4.35 per gallon, but were 3.8% lower when compared to the prior year. Fiscal Sector Data on the Government's budgetary operations for the nine-months of FY2018/19, showed that the deficit narrowed by $132.5 million (50.6%), relative to the comparable period of the previous fiscal year, to $129.5 million. This outcome was underpinned by a $219.2 million (14.9%) expansion in revenue to $1,689.1 million, which outpaced the $86.7 million (5.0%) increase in spending to $1,818.6 million. The rise in total receipts was largely attributed to the 4.5 percentage points hike in the VAT rate to 12.0%, which boosted collections in this category by $98.7 million (20.1%) to $588.9 million. In addition, stamp taxes related to financial and realty transactions, doubled to $161.6 million-reflecting the reclassification of VAT on realty taxes to stamp taxes. Further, business license fees firmed by $24.7 million (35.0%), while receipts from banks and trust companies rose by $7.1 million (39.2%). In contrast, tax inflows related to international trade, waned by $3.5 million to $312.7 million, owing to reductions in both import and export taxes, which partially offset the growth in departure tax receipts. Further, non-tax revenue increased by $21.2 million to $167.3 million, due in large measure to a $26.5 million increase in income tied to the sales of good and services; largely related to higher immigration fees. The expansion in expenditure was anchored by the $143.5 million (9.3%) rise in recurrent spending to $1,691.9 million. The Government increased its subsidies, mainly for healthcare, by $41.4 million (18.0%), while interest payments-predominantly on external debt-grew by $22.4 million (30.9%). Less pronounced gains were recorded for social assistance benefits, of $4.5 million (16.3%), and pensions & gratuities of $5.4 million (5.8%). Conversely, recurrent compensation disbursements declined by $27.6 million. In contrast, capital outlays contracted by $56.8 million (31.0%) to $126.7 million, due to a $56.4 million (36.6%) decline in the acquisition of non-financial assets and a $4.2 million (18.7%) fall-off in capital transfers. For full text reading, please download the attached document.
Quarterly Statistical Digest - May 2019 May 2019 is now available. For complete viewing of monetary, financial, fiscal and economic statistics through March 2019, please click on the document below. by Governor Rolle on Fostering Training to Enhance the Effectiveness of Anti-Money Laundering and Counter Financing of Terrorism Outcomes
Welcome Remarks by Governor John A Rolle Launch of the Association of Certified Anti-Money Laundering Specialists (ACAMS) Bahamas Chapter
24th May, 2019 It is a pleasure to be here at the launch of The Bahamas Chapter of the ACAMS network. We all appreciate the importance of having skilled professionals to manage the money laundering and related risks posed to the financial system. We also appreciate that The Bahamas must demonstrate increasingly greater effectiveness in countering attempts to exploit its financial system for illicit purposes. To this end, ensuring a critical mass of skills and certifications across our industry is essential. Perception wise, it signals to the outside world that our jurisdiction is not a haven for, nor does it intend to be known as a haven for illicit financial flows. My expectation is that as the critical mass of skills in the industry increases, The Bahamas will demonstrate more in practice, and in the experience of customers, that it is applying risk-based principles, which do not undermine the quality of services on supply. I believe we still have gaps in how risk-based outcomes are being achieved. The pressure persists for regulatory guidance to be overly prescriptive and check-list based, with the result that the retail customer experience is still too degraded. We will only arrest this trend through--in addition to all of our other interventions--strengthening competence around the application of AML/CFT safeguards. I expect that we will make more progress in this regard, thanks to AML certifications of this nature. My own position, which is not yet the institutional view of the Central Bank of The Bahamas, but which I will work to become the institutional view, is that the Money Laundering Reporting Officers (MLROs) and Compliance Officers ought to be subjected to an ongoing certification process to satisfy the regulatory requirements for holding their posts. Some of the recent initiatives of the Bahamian regulators and the Government were to identify that our compliance culture was not sufficiently risk-based. The result was that financial inclusion and access was hindered for those on the margins of the system. Thanks to the provisions of the Financial Transactions Reporting Act (FTRA), the Central Bank has been able to provide guidance that streamlines "know your customer"(KYC) requirements for access to retail domestic banking services. For low-risk customers, a passport is adequate documentation in itself for account opening. In the absence of the passport, a list of other government issued identity documents is acceptable. Verification of address by proof of a utility bill has given way to establishing proof that the client can be contacted by electronic or other means. The Central Bank of The Bahamas has also made it clear that high risk does not mean than an extra burden should be imposed to identify oneself--rather more due diligence should be exerted around the other dimensions of how a relationship is established and monitored. Also, for low-risk retail prospects, the Central Bank has gone on record to state that the potential customer does not have to offer proof of employment in order to open a bank account. The Central Bank of The Bahamas has already placed its support behind this ACAMS training initiative. It will allow The Bahamas to make more necessary, qualitative process in perfecting its national AML/CFT regime. For all of the Bahamian financial sector regulators, and the rest of the financial services industry, this provides more concentrated opportunities for in country training. I congratulate the founding Steering Committee and the Executive Board of the ACAMS Bahamas Chapter and assure you of the Central Bank's sustained support. Thank you. *Amended
Results of Treasury Tender May 2019 of Treasury Tender May 2019 Bank and Clearing Banks Association To Host Financial Literacy Fair

Contact Kevin Demeritte, External Relations,                                              FOR IMMEDIATE RELEASE

Central Bank of the Bahamas or Maya Nottage,                                           May 20, 2019                                                    

Director of Communications, Blue Orchid Bahamas

Telephone (242) 302-2710 or (242) 323-3322 

Email or



Event will include Financial Recovery Workshop for struggling families 

Nassau, Bahamas, May 20, 2019-The Central Bank of The Bahamas , in collaboration with the Clearing Banks Association (CBA), will host the first Get Money Smart Bahamas Financial Literacy Fair on Saturday, May 25, 2019 at Fusion Superplex, John F. Kennedy Drive and Gladstone Road. At the event, the hosts will share information about saving, spending, budgeting and making sound financial decisions to help attendees improve their financial state. Participating CBA members include Bank of The Bahamas Limited, Commonwealth Bank Limited, CIBC FirstCaribbean International Bank (Bahamas) Limited, Fidelity Bank (Bahamas) Limited, Scotiabank (Bahamas) Limited, and RBC Royal Bank (Bahamas) Limited. 

“This event is bringing together all of the Clearing Banks to give Bahamian consumers as much support as possible in building and maintaining a strong financial future for themselves and their families,” said Gowon Bowe, Chairman of the CBA. “The advice is free. All you have to do is make your way to Fusion Superplex to meet with us. If you have been ignoring financial issues or putting off dealing with them, this Fair will provide a great opportunity for you to sit with one of the banks to figure out how to improve the situation before it gets even worse. We don’t want our customers to have difficulty managing their finances. That doesn’t serve anyone. We’re here to support our customers.”

The Fair includes a Financial Recovery Workshop which will be held from 1:00pm to 2:00pm in one of the Fusion Superplex theatres, where light refreshments will be provided. “The workshop will help families who are struggling with managing their finances to understand how to make simple changes to alleviate some of that financial pressure they’re feeling,” said Governor John Rolle of The Central Bank. “We will also host a question and answer period so that attendees can get facts from the various banks about their financial concerns. Everyone can learn from each other. We want to make managing money a much easier process so that they can enjoy life.”

Social media users can pitch questions for the workshop by connecting with Get Money Smart Bahamas on Facebook and Instagram at @GetMoneySmart242. Learn more about the campaign at 


Photo Caption: The Get Money Smart Financial Literacy Fair is one of the Central Bank’s efforts to promote widespread financial education among Bahamians, says Governor John Rolle (pictured here). The event will be held at Fusion Superplex, John F. Kennedy Drive and Gladstone Road, on Saturday, May 25, 2019 from 12:00pm – 4:00pm and will include a Financial Recovery Workshop that begins at 1:00pm.


For more information, please contact: 

Kevin Demeritte, External Relations, Central Bank of the Bahamas or Maya Nottage, Director of Communications, Blue Orchid Bahamas at (242) 302-2710 or (242) 323-3322 or by email at or