MOUS With Foreign Regulatory Authorities Part of the Process
Pursuit of the highest possible professional standards in an environment which facilitates the efficient operation of financial services guides the regulatory and supervisory approach in The Bahamas.
In this regard, The Central Bank of the Bahamas, the country’s regulatory authority for banking and trust operations, is empowered to enter into Memoranda of Understanding (MOUs) with like foreign regulatory authorities as a means of facilitating international co-operation on regulatory matters and effective consolidated supervision.
The MOUs, which are reciprocal in nature, facilitate access by Home and Host supervisors to information required for the conduct of consolidated supervision of banking groups. As Host supervisor for a number of banks, the Central Bank would be concerned with the supervision of branches and subsidiaries of banking groups headquartered in other jurisdictions and would seek to ensure, inter alia,
