For a better view on Central Bank of The Bahamas, Update Your Browser.

Bahamas Mortgage Corporation Bonds

The Central Bank of The Bahamas serves as the registrar and transfer agent for The Bahamas Government and its agencies. "Established by an Act of Parliament, the Bahamas Mortgage Corporation (BMC) commenced operations in 1983. Its asset portfolio includes loans to individuals for the construction of new homes, the purchase of new or existing dwellings and financing for housing rehabilitation and structural enlargement. The Corporation, which currently falls under the responsibility of the Minister of Housing, places particular emphasis on Government initiated projects, which comprises the largest share of its total outstanding loans.

By its Act, the Corporation has the authority to issue bonds. BMC Bonds are issued in denominations of $100,000 and usually attract interest rates that are tied to the Bahamian prime lending rate. Bond-holders include The National Insurance Board, the clearing banks, insurance companies and the Central Bank of The Bahamas. As of April 2022, total bonds outstanding stood at $160 million.