The Bahamas: Selected Issues

International Monetary Fund

No 2017/315, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; Bahamas; bank; central bank; transmission business; CFT regime; wealth management tool; central bank publication; respondent bank; central bank of The Bahamas; Offshore financial centers; International banking; Anti-money laundering and combating the financing of terrorism (AML/CFT); Mutual funds; Correspondent banking; Global (search for similar items in EconPapers)
Pages: 12
Date: 2017-10-06
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=45311 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2017/315

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().