Amendments to the General Guidelines for Licence Applications

Published: Thursday June 1st, 2006

Notice is hereby given that the General Guidelines for Licence Applications issued in December 2001 have been updated and are now available on the Central Bank's website (under the Bank Supervision Guidelines and Regulations section). These Guidelines provide licensees and licence applicants with insight into the Central Bank's licensing policy, the procedures and documentation for licence applications, exchange control designations, licence classifications, ownership classifications, licence fees, capital requirements and relevant governing legislation.

The Guidelines have been updated primarily to reflect amendments to the Banks and Trust Companies Regulation Act, 2000 (the Act) which is the principal legislation providing for the regulation of banks and trust companies operating in and from within The Bahamas. The Third Schedule of the Act which prescribes licence fees for Central Bank licensees was amended by the following regulations:

(i) Banks and Trust Companies Regulation (Amendment to the Third Schedule) Regulations, 2004 (S.I. No. 48 of 2004) (ii) Banks and Trust Companies Regulation (Amendment to Third Schedule) Regulations, 2006 (S.I. No. 16 of 2006)

Licensees should note that the Banks and Trust Companies Regulation (Amendment to Third Schedule) Regulations, 2006 took effect from October 31st, 2005. 

Any questions regarding these Guidelines should be directed to:

The Policy Unit Bank Supervision Department The Central Bank of The Bahamas Frederick & Market Streets P.O. Box N 4868 Nassau, Bahamas

Tel (242) 302-2615 Fax (242) 356-3909 Email: [email protected]