The Bahamas: Selected Issues
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This Selected Issues paper assesses the recent trends in The Bahamas’ offshore financial center (OFC) and their contribution to the real economy. The Bahamas hosts one of the largest OFCs in the world. International banks are the most important institutions in the Bahamian OFC. Despite a sharp contraction in the size of the offshore sector, the direct impact on the real economy appears to have been modest. The direct contribution of offshore banks to the real economy appears to have remained broadly stable, reflecting an orderly adjustment so far. Strong compliance with anti–money laundering and combating the financing of terrorism and tax transparency standards should help ensure that this orderly adjustment continues.
Series:
Country Report No. 2017/315
Subject:
Anti-money laundering and combating the financing of terrorism (AML/CFT) Banking Correspondent banking Crime Financial institutions Financial services International banking Mutual funds Offshore financial centers
English
Publication Date:
October 6, 2017
ISBN/ISSN:
9781484323113/1934-7685
Stock No:
1BHSEA2017002
Pages:
12
Please address any questions about this title to publications@imf.org