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Group of Financial Services Regulators ("GFSR")

Bahamas 2018 AML/CFT Report
The Central Bank of The Bahamas, in conjunction with the GFSR, is pleased to announce that it has released to its website, the publication of the first annual Bahamas 2018 AML/CFT Report. The launch of the Report aims to amalgamate all the various AML/CFT work conducted during the year by regulatory bodies and public/private agencies, highlighting the increased inter-agency co-operation and industry participation within The Bahamas regarding financial crime risk management. The 2018 publication features reports from each of the GFSR agencies, articles and statistical data from the Financial Intelligence Unit and the Office of the Attorney General. In the future, the Report will seek to include material from other public and private sector parties, and additional articles on matters of topical interest. Such articles are expected, over time, to grow into a useful time series of AML/CFT data and statistics from all relevant regulators, government agencies and professional organizations with a stake in the AML/CFT perception of The Bahamas. To access the Report, please visit the Central Bank's website at
Bahamas Registered Stock Secondary Market Offering Prospectus - February 2019
Security Details Secondary Market Details
Security Type: Bond Amount Released: $20,324,600
Security ID: BGR109036 Release Opens: 11 Feb. 2019 (9:30 a.m.)
Issuer: Bahamas Government Release Closes: 13 Feb. 2019 (3:00 p.m.)
Registrar: Central Bank of The Bahamas Value Date: 15 February 2019
Issue Date: 3 October 2016 Last Interest Payment: 3 October 2018
Maturity Date: 3 October 2036 Days Interest Due: 135
Original Tenor: 20 Years Accrued Interest per Bond: $1.997260
Coupon: 5.40% Price per Bond: $105.8785
Calendar: Actual/365 Price Date: 16-Jan-19
Interest Semiannually Face Value: $100
Unit: $100 Yield: 4.90%
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 $1.997260 = $199.7260)
Step 2: Calculate principal cost (100 bonds x $105.8785 = $10,587.85)
Step 3: Calculate total due ($199.7260 + $10,587.85 = $10,787.58)

See link below for further examples:
Bahamas Registered Stock Cost Chart Registered Stock Cost Chart Rolle's Address on Recent Economic Developments find attached for your information:
  • Governor Rolle's Press Statement on Economic and Financial Developments
  • Highlights of Economic and Financial Developments (PowerPoint presentation)
  • Full Economic and Financial Developments (MEFD) Report
Monthly Economic and Financial Developments, December 2018 Indications are that the domestic economy maintained its modest pace of growth in December, and was improved overall for 2018. Output was supported by ongoing gains in tourism, while foreign investment projects continued to fuel construction sector activity. The economy's uptrend was evident from strongly elevated foreign currency inflows through the banking sector and equally robust demand, evident in external payments for goods and services. The environment sustained further employment gains, although paced slower than active labour force growth, both during the six-months to November and in the year-over-year comparisons. In monetary developments, bank liquidity contracted during December, as the falloff in total deposits outstripped the decline in credit, with a resulting reduction in external reserves. The latter reflected elevated public sector demand, for refinancing of foreign currency debt with domestic funding. Real Sector Tourism The improvement in tourism, which occurred during the year, was sustained during the final month of 2018, with both the airline and hotel accommodation indicators showing strong gains. The latest data from the Nassau Airport Development Ltd. (NAD), showed that total departures-net of domestic passengers-rose by 12.3% in December, extending the 5.1% increase a year earlier. This was underpinned by a 13.4% gain in US departures, compared to the previous year's 3.4% growth. Further, the non-U.S. international component rose by 6.8%, albeit a slowdown from the prior period's 14.5% expansion. Similar trends were evident over the twelve-month period, as total departures strengthened by 13.8%, vis-à-vis a 0.8% softening in the previous year. There were corresponding recoveries in both U.S. and non-U.S. international traffic, of 13.2% and 17.4%, from declines of 0.6% and 1.8%, respectively, a year earlier. In terms of the non-traditional accommodation market, short-term rental demand continued to strengthen during December 2018. The latest data from AirDNA revealed a 27.0% increase in the total available listings and a 33.0% advance in total bookings, relative to the same period last year. Notably, higher booking rates were observed in all of the major markets, as the number of room nights sold in Abaco, Exuma and Grand Bahama, grew by 76.6%, 46.0% and 44.7%, respectively. Comparatively, New Providence, which features considerably more inventory across accommodation types, firmed by 21.9%. Moreover, the average daily rate (ADR) for entire place listings-which tends to be more comparable across periods-rose by 1.8% to $356.31 per night, while the cost of hotel comparable listings fell marginally by 0.3% to $146.59 per night. For the year, the total number of room nights sold increased by 42.2% when compared to 2017, amid robust gains for Exuma (55.9%), Abaco (55.8%), and Grand Bahama (52.7%), as well as improvements for New Providence (25.7%). Further, over the 12-month period, the ADR for entire place listings firmed by 3.8% to $333.29, while listings which were comparable to hotel rooms, rose by 1.3% to $138.40. Employment Reflecting mainly the improving economic conditions, preliminary data from the Department of Statistics' Labour Force Survey for November, revealed a 3.4% rise in the number of employed persons, when compared to November 2017, and a 1.1% gain relative to May 2018, amid increased private sector employment. Nevertheless, with the growth in the active labor force outpacing job gains, the overall unemployment rate rose by 70 basis points vis-à-vis May 2018, and by 60 basis points compared to November 2017, to 10.7%. A breakdown by island showed that the uptick in the jobless rate was due solely to developments in the New Providence market, which firmed by 1.0 percentage point to 11.0% over the six-month period, and by 40 basis points relative to the same period in 2017. In contrast, the unemployment rate in Grand Bahama fell by 50 basis points over May and by a smaller margin of 20 basis points, on an annual basis, to 11.9%. Similarly, in Abaco, the jobless rate contracted by 3.0 percentage points over the six-month period to 7.7%, and was 90 basis points lower than November 2017. Prices During the twelve months to September, retail price inflation rose to 1.98% from 1.34% in 2017, reflecting the pass-through effects of the 4.5 percentage points rise in the VAT rate on 1st, July. In terms of the components, restaurant & hotels, recreation & culture and food & non-alcoholic beverages, reported upticks of 4.99%, 3.86%, and 2.44%, respectively, a reversal from the reductions recorded in the prior year. Likewise, the rate of inflation also accelerated for transportation (4.86%) and health care (1.77%). In contrast, the rise in average costs for housing, water, gas and electricity costs-the largest category-slowed by 1.1 percentage points to 2.4%, and contracted in the components for clothing & footwear, furnishing & household equipment and education, following price increases in 2017. For full text reading, please download the attached documents. of Treasury Tender January 2019 of Treasury Tender January 2019 Statistical Digest, November 2018 November 2018 is now available. For complete viewing of monetary, financial and economic statistics through September 2018, please click on the document below.