By BETTY VEDRINE
Bahamas Information Services
#Nassau, The Bahamas, September 27, 2022 – With Financial Services playing a key role in the country’s economy, efforts continue to keep the sector progressive. That includes incorporating new products, including trading in Digital Assets. Attorney General and Minister of Legal Affairs, the Hon. L. Ryan Pinder made these points at the STEP LATAM conference in Panama, September 22-23, 2022.
STEP LATAM, which stands for Society of Trust and Estate Practitioners, Latin America, is a professional networking body that brings together professionals from a cross-section of businesses in the financial services sector. STEP provides education, training, representation and networking opportunities for its members, of which there are over 21,000 across 95 jurisdictions.
Minister Pinder outlined some of the country’s legislative agendae pertaining to financial services’ inclusion of digital asset regulation. After presenting a snapshot of the objectives and the legislation on the table, Minister noted the way forward for the country.
“I wish to mention three more items intrinsically linked to any successes we will enjoy in the future from our commitment to be in the vanguard of global digital assets regulation. The first is the understanding that there needs to be greater general and advanced knowledge and competence with regard to financial technology in The Bahamas, to support the talent base necessary to be industry leaders, innovators and entrepreneurs, coders, analysts, regulators, support staff, to write news and technical stories about developments in the space,” he said. To meet this objective, he said that there would have to be collaborations and partnerships with other stakeholders.
“To further this endeavour, the Commission intends to collaborate with the University of The Bahamas on three 8-week courses focused on the digital assets sector. Attendees will earn a certificate upon successful completion of the course, which can be used to demonstrate to the Commission that the individual possesses the requisite education and knowledge to engage in DAB registrable activities in The Bahamas. In conjunction with this, the Digital Advisory Panel is working with the Bahamas Institute of Financial Services to build a sustainable curriculum for our domestic financial services talent to be knowledgeable, qualified and excel in the digital asset fin tech space,” said Minister Pinder.
Another collaboration, he explained would be one with the Securities Commission of the Bahamas. “ The second is the Securities Commission of The Bahamas Fintech hub, SCB FITLink, which launched in 2019. The hub is a central point for the Commission and the public to engage on digital assets business, crowdfunding, distributed ledger technology, and initial token offerings. In addition to engagement with the public, FITLink facilitates regulatory consultation by helping fintech innovators and incumbents navigate the Digital Assets regulatory landscape, among other things, making the regulatory process understandable and efficient.”
He also invited the members to join the Bahamas in 2023, for the FinTech festival, which will be held at Atlantis Resort, January 2023: “Thirdly and finally, we are not being shy about telling the world what an amazing and wonderful legislative framework we have for digital assets business. On that note, I take this opportunity to invite you all to D3 Bahamas, which will undoubtedly be the annual FinTech festival in the region. The date has been tentatively set for January 2023 at the Atlantis Resort and conference centre.”
He concluded by saying that The Bahamas is committed to being a major player in the financial services sector. “In order for a jurisdiction to be a preeminent player in the digital assets industry there must be confidence of a nimble regulator, a regulatory regime that is respected worldwide and incorporates real time best practices, and a commitment of government policy to advance the growth of the industry, assuring the jurisdiction is a safe place to do business that will do what is necessary to keep the bad actors out. I am proud to say The Bahamas is an example of the success of the model.”
Bahamas and Turks & Caicos Immigration Ministers make appearance on TCI Radio Talk Show
By Dana Malcolm
#TheBahamas, November 25, 2022 – “We have a humanitarian concern of course but we can only absorb so much” was how Fred Mitchell, Minister of Foreign Affairs and the Public Service in The Bahamas addressed the issue of the UN constantly nudging Caribbean countries about the deportation of migrants and recommending that it not be done.
He was speaking Thursday November 24 with Cheryl and Zhavargo on First Edition which airs on RTC FM.
While acknowledging that the UN offices likely ‘have to do what they do’ Minister Mitchell explained that the current irregular migrants trying to get into the Bahamas did not fit the bill of ‘refugees’ as defined by the UN.
“We have a treaty obligation that says that if people have a fear of persecution in their home country that we have an obligation to take them in as asylum seekers. The people who come through on these boats from the south of us are not asylum seekers. They are afraid of poverty and that’s a difficult issue but in a legal sense we’re not obligated to embrace people on that basis.”
He cited a study that had found, on any given day there were around 7,000 illegal migrants in The Bahamas trying to get to the US maintaining that his chain of islands had to take a stand on the issue. The Foreign Affairs minister acknowledged that TCI was in an identical situation, citing also the the cultural effects of irregular migration.
“There is a cleavage which has developed in our own society over this; people are very concerned that we could lose our identity if we do not get on top of it.”
Earlier this year Arlington “new sheriff in town” Musgrove, Minister of Immigration and Border Services in the Turks and Caicos had described statements calling on surrounding countries to do more to assist persons fleeing Haiti as “reckless and misguided.”
“Haiti has a population of 11.6 million people. How could any small developing state like the Turks and Caicos Islands assist that number of people or even the smallest fraction of them? We have a population of some 47,000 persons, and our health care, education and other social systems remain fragile and could never withstand an influx of refugees. This would be a risk to our very own livelihood,” he had said.
He was interviewed in the same show on Thursday prior to Mitchell and expressed a similar determination to crack down on illegal migration.
“I want to stress this. If we catch anyone harbouring illegals, it could be my mommy, she’s going up. We cannot tolerate this. We’re catching the sloops so my Haitian brothers and sisters should stress to them don’t waste your money we’re sending you back.”
Turks and Caicos, this year passed a law, doubling fines and prison times for individuals harbouring illegal migrants.
Former Bahamian Cabinet minister defends record amid ongoing police investigation
By Shanieka Smith
#TheBahamas, November 25, 2022 – Former Youth, Sports and Culture Minister, Lanisha Rolle is reportedly currently under investigation due to several allegations that came up during her tenure; she however knows nothing of this alleged criminal investigation.
After the minister resigned – unceremoniously – in February 2021 with little explanation, the ministry was locked down by the Prime Minister for an audit of the National Sports Authority, which fell under her ministry.
Auditor General Terrance Bastin revealed that unauthorised contracts had been issued, some of which were later forwarded to the NSA for payment. Three cheques to contractors were also found, which were paid to individuals and then collected by a senior ministry official.
Despite the allegations, Rolle said she upheld cabinet standards and good governance during her tenure. She added that a minister is not always aware of “everything in a ministry at any given time.”
Rolle said she has not yet been approached by the RBPF regarding the audit findings. Having served as a member of the Police Force for 11 years herself, Rolle told a crush of media on Wednesday (November 23) that she continues to trust that they will follow the legal process and in due time, the truth of her innocence will be revealed.
MYSC set to begin training for National Youth Guard
Robyn Adderley, BIS
#FREEPORT, The Bahamas, November 25, 2022 – Officials from the Ministry of Youth, Sports, and Culture along with members of the Royal Bahamas Police Force and Defence Force toured the Police Training College on Tuesday, November 22 in preparation of the start of the Bahamas National Youth Guard training programme.
Sandena Neely, Head of the Division of Youth, explained that the Bahamas National Youth Guard is a programme designed to train young Bahamians to serve during a national disaster.
Participants are to be between the ages of 18 and 25 and Bahamians willing to serve their country.
“In the event of a natural disaster, we want to implement a strategy where young Bahamians are going to be able to facilitate being a part of every part of the national disaster plan from prevention and mitigation all the way to recovery.”
She explained that they were touring the Police College in Grand Bahama because it is the proposed site for their three-month training. Training starts in January and will include Bahamians nationwide to be trained, skilled and certified so that they can return to their communities and serve.
The 27-month programme starts with three months of training, followed by three months of internship during which time they will receive a stipend, and then they will be on-call for the remaining 21 months. If they are called to serve during that period, they will receive an additional stipend.
While touring the campus, the delegation started with the auditorium where most of the time would be spent. In there, along with the all-purpose room, there are three classrooms and one computer lab.
The delegation was comprised of Ministry of Youth officials Undersecretary Montez Williams, Ms. Neely, Deputy Director of Sports Northern Bahamas Norris Bain, Youth Programmes Coordinator for the Grand Bahama Office Carla Brown-Roker, Programme Officer Kenneth Frazier, Youth Officer Kenneth Miller, Communications Officer Lamar Matthews and Kree Hanna, Administrative Assistant. From the Royal Bahamas Police Force there was ACP Dellareece Ferguson, ACP Kenwood Taylor, ACP Craig Stubbs, ACP Theophilus Cunningham and Assistant Superintendent Randolph Deleveaux. Daryl Jones represented the Royal Bahamas Defence Force.
Then it was off to touring the dormitories that are equipped to house 32 males and 12 females.
The Bahamas National Youth Guard is being facilitated by the Ministry of Youth, Sports and Culture and joined by partners from the Royal Bahamas Police Force, the Royal Bahamas Defence Force, NEMA, DRA, Social Services, the National Drug Council, the Ministry of Health and Wellness and others.
Programme Officer, Kenneth Frazier, Youth Officer at the Ministry of Youth, Sports, and Culture said training will begin the second week in January in Grand Bahama. The focus is on Grand Bahama and Abaco because those two islands are hardest hit by storms.
“We understand that people here are aware and understand what is needed for the persons in this programme.”
When disasters strike, he said, people within their own communities ought to be able to assist as soon as possible. As such, the call has gone out all over the country to get people to sign up for the programme.
“The idea is to have people within each community to have the skills needed to help mitigate response every part of the national disaster.”
The delegation then paid a courtesy call on the Permanent Secretary at the Ministry for Grand Bahama, Melvin Seymour, when they shared details of the programme.
According to Neely, “Stakeholders are the way that we operate. They are our arms, our feet, our legs. They help us to walk and help us to service. We are a youth development agency, but we know when and where to look for our partners who can help us to bring programmes to life.”
The programme, Ms. Neely further explained, came to being because it is important for residents to be able to assist themselves.
She closed with, “We want to build a generation of Bahamians who are able to help ourselves whenever a disaster or some emergency happens in our country.”
Header: A group from the Ministry of Youth, Sports and Culture, led by Undersecretary Montez Williams, travelled to Grand Bahama to tour the Police Training College where the three-month training programme for the National Youth Guard is set to begin in January. The tour took place on Tuesday, November 22 and included staff from the Ministry of Youth, the Royal Bahamas Police Force and the Royal Bahamas Defence Force. (BIS Photo/Andrew Miller)
1st insert: A tour of the dorms at the Police Training College was on the agenda as the Ministry of Youth, Sports and Culture is set to begin a three-month training programme for the Bahamas National Youth Guard in January. Sandena Neely, Head of the Division of Youth, is seen discussing what will be needed during the tour on Tuesday, November 22. (BIS Photo/Andrew Miller)
2nd insert: A delegation from the Ministry of Youth, Sports and Culture, the Royal Bahamas Police Force and the Royal Bahamas Defence Force on Tuesday, November 22, toured the classrooms of the Police Training College in Freeport. The three-month training programme for the Bahamas National Youth Guard is set to begin the second week in January. (BIS Photo/Andrew Miller)
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