John A Rolle: How the Bahamian financial system serves Bahamian society - why our AML/CFT reputation is important

Remarks by Mr John A Rolle, Governor of the Central Bank of The Bahamas, at The Bahamas Anti-Money Laundering and Countering the Financing of Terrorism Risk Management Conference, Nassau, Bahamas, 17 September 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

Good morning. I propose to review the ways in which the Bahamian financial services industry serves Bahamian society, and also touch upon a few ways in which this can be and will be improved. I will then outline why the Bahamian jurisdiction’s AML/CFT reputation is a critical determinant of our financial services industry’s ability to prosper and grow, and summarise our current international standing, as represented in various league tables.