Bahamas Financial Sector News

While not in crisis, the Bahamas' financial services sector is flat, according to a prominent Bahamian lawyer.
Brian Moree of McKinney Bancroft and Hughes, a leader in Bahamas real estate law, told the Jones Communications Network that the country's second largest industry is stable.
However, he said these are critical times for the financial services industry. While Moree doesn't see the industry going into decline, he doesn't see any significant growth either.
He felt the industry has actually been flat for some years “in terms of its contribution to the economy.”
But he dismissed suggestions that the Bahamas industry is in crisis.
At the same time, however, he projected that the next few years for the Bahamas will be difficult.
Chartered accountant Raymond Winder said there are some aspects of the meltdown that haven't affected the Bahamas yet.
He said there's a general feeling that tax havens have a considerable amount of wealth and people are not paying their fair share of taxes. He questioned whether this sentiment may lead to more pressure against tax havens, such as Cayman Islands and the Bahamas.