Timelines for Processing Applications and Other Official Requests
Published: Wednesday December 14th, 2011
The Central Bank of The Bahamas (“the Central Bank”) continues to review and evaluate its operational processes, with a view to achieving greater efficiency in how we interface with our regulated entities. To underscore our commitment in this regard, we have outlined below, our indicative processing timelines for standard application/request types submitted for regulatory approval, as well as other reports, communications and notifications. Links/references have also been provided to associated legislation, policies or other guidelines. It should be noted that these timelines are based upon the satisfactory receipt of the requisite supporting documents or responses, as stipulated in our policies and/or legislation. While the Central Bank will aim to meet the performance benchmarks, as established by the indicative timelines, there may be those exceptions where the timelines may vary due to unforeseen events or because matters may require further legal/policy review. In such events, the licensees will be advised accordingly. We do, however; recognize that, from time to time, licensees may require approvals on an urgent basis to facilitate certain transactions or to meet a specific deadline. In such cases, we will do our best to expedite your requests. Where an application is filed, licensees are requested to submit outstanding documents expeditiously or, otherwise, formally advise the Central Bank as to when the document(s) would most likely be submitted. This will allow us to better manage the administrative activities related to follow-ups.
To expedite processing, requests and other communications may be sent to the Bank Supervision Department, via email with scanned supporting documents to [email protected]. In addition, licensees can also mail, fax or hand deliver documents to the Bank Supervision Department. The covering letter should be addressed as follows:-
Manager
Bank Supervision Department
Central Bank of The Bahamas
Market Street
P.O. Box N4868
Nassau, Bahamas
[Tel: (242) 302-2615]
[Fax: (242) 356-3909]
