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AG Outlines Digital Assets Legislation at STEP LATAM Conference in Panama

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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.”

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RBDF Operation Strengthens Maritime Security Amidst Regional Turmoil

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Defence Headquarters, 17 MAR. ’24: A joint operation between the Royal Bahamas Defence Force (RBDF) and the Royal Bahamas Police Force (RBPF) led to the apprehension of 50 Haitian migrants approximately 5 nautical miles west of Bell Island on Saturday, March 16th.

The operation was initiated following the initial sighting of a sailing vessel, believed to be of Haitian origin, 8 miles southwest of Staniel Cay in the Exumas. RBDF swiftly deployed air and surface assets stationed at Matthew Town Inagua, supported by Police officials in Staniel Cay who verified the sighting. The migrants were intercepted by RBDF personnel stationed at the Land and Sea Park, Wardrick Wells Exuma, and subsequently handed over to the safe boat crew. They are currently under apprehension pending further investigation, with the imminent arrival of HMBS Rolly Gray.

In response to the ongoing instability in Haiti, Commodore Raymond King has announced the implementation of a strategic blockade in the southern Bahamas. This initiative includes the deployment of six surface vessels, one aircraft, and 120 highly skilled RBDF personnel. Patrol operations will be concentrated in critical areas such as the northern coast of Haiti, the Old Bahama Channel, and the Windward Passage, with the aim of deterring unauthorized entry attempts and preserving maritime security in the region.

The effectiveness of these decisive measures is evident, with recent apprehensions totaling 247 individuals by the RBDF. Commodore Raymond E. King emphasizes the commitment to bolstering maritime security through collaborative efforts with regional partners and local law enforcement agencies.

The Royal Bahamas Defence Force remains committed to safeguarding the nation’s borders and territorial integrity, working collaboratively with regional partners.

(For further information please contact the RBDF Public Relations Department or visit our website: www.rbdf.gov.bs, follow us on Facebook, Twitter and view our Youtube channel)

-rbdf-

#GuardOurHeritage

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CIBC CARIBBEAN and Bahamas Girl Guides Association host inaugural Delaney Leadership Seminar

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Nassau, Bahamas, February 28, 2024 – Enthusiastic girl guides, ranger guides, and girls representing schools across The Bahamas recently gathered at the first ever Delaney Leadership Seminar.

The seminar, named in honor of CIBC FirstCaribbean’s (now CIBC Caribbean) first female chief executive officer, Ms. Colette Delaney, empowered the next generation of female leaders through focused sessions on leadership development, cultivating a leadership mindset, and the importance of building strong, supportive friendships. 

The event featured a series of team building exercises, interactive discussions, and a keynote address by Dr. Jacqui Bend, CIBC Caribbean’s Managing Director. Dr. Bend shared insights on the essence of leadership, guiding principles, and emphasized the role of young women in shaping a vibrant future for The Bahamas and beyond.

“It was a privilege to witness the incredible energy and budding potential of the young leaders that participated. Leadership is not just about guiding others; it’s about inspiring action and fostering an environment where everyone can thrive. The Delaney Leadership Seminar is a testament to CIBC Caribbean’s commitment to nurturing young, bright minds and equipping them with the skills and confidence needed to lead with purpose and passion,” said Dr. Bend.

Held under the theme, Our World, Our Bahamas, Our Thriving Future, the seminar underscored the importance of lifelong learning, perseverance, empathy, and collaboration in leadership, among other guiding principles. Dr. Bend highlighted the strides already being made by the participants and encouraged them to continue exploring their potential and envisioning their roles in creating positive change within their communities and the wider world.

Delina Rolle, a tenth-grade participant and aspiring lawyer from Preston H. Albury High School in Eleuthera, shared, “This seminar has been a life-changing experience for me. Hearing Dr. Bend’s success story and her tips were inspiring for me as a young girl trying to be a leader. I am happy I was selected by my school’s administration to attend and connect with so many amazing girls who share my dreams of making a difference.”

The Delaney Leadership Seminar has set a new benchmark for youth leadership programs in The Bahamas. The event concluded with a commitment from both CIBC Caribbean and the Bahamas Girl Guides Association (BGGA) to continue their support for youth leadership initiatives. 

In 2022, CIBC FirstCaribbean donated to the BGGA to assist in completing the interior of its $1.5 million, West Bay Street headquarters, which will feature meeting rooms, office spaces, training areas, accommodations for girl guides visiting from other countries and other essential working areas.

It was at that time that Dr. Bend affirmed the bank’s commitment to support organizations that mirror the bank’s promise to assist women and girls in the communities it serves. Prior to that, the bank donated several native trees to BGGA, which were planted at its campsite, Camp Discovery, in partnership with the Ministry of Environment and Housing’s Forestry Unit.

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BAMSI BRINGS IN PUREBRED ANIMALS TO DIVERSIFY NATIVE HERD

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Nassau, Bahamas, March 6th, 2024 – IN A STRATEGIC MOVE to boost the genetic quality of livestock available in the country, the Bahamas Agriculture and Marine Science Institute (BAMSI) recently collaborated with the Department of Agriculture to acquire purebred small ruminants (sheep and goats).  The initiative is part of BAMSI’s broader breeding programme to inject quality genetics into the local livestock population.  Shedding light on the project’s objectives and timeline, Dr Mark Butler, the Institute’s Veterinarian, said the animals promise a more sustainable and prosperous future for the local farming community.

The newly acquired stock of animals, Dorper and Barbados Black Belly sheep and Boer and Savanna goats, are integral to the upcoming artificial insemination programme which BAMSI is set to commence later this year.  

“The new animals will be used in one arm of our breeding programme, facilitating natural mating to ensure genetic diversity and quality,” Dr Butler explained.  “The goal is to increase the herd and improve genetic traits, and we anticipate over 85 per cent success in terms of animals giving birth—a crucial marker for the programme’s success.”

Currently, 30 sheep and 30 goats are part of the breeding programme, with the expectation of 50 to 60 live births by the end of the year.  The focus is not only on increasing the herd size but also on ensuring the genetic quality of the offspring.

“We want offspring that exhibit high genetic quality.  Purebred Dorper sheep and Boer goats show better growth rates and are ideal for farmers looking for efficient weight gain at market age,” Dr Butler emphasized. 

Ayrett Lightbourne, BAMSI’s Farm Manager, addressed why BAMSI chose these specific breeds, and their potential impact on the local livestock industry.  “The Dorper Sheep, for example, gains weight faster than native breeds, offering a different market for lean meat consumers.  Similarly, the Boer and Savanna goats, being larger and more meat-producing, contribute significantly to improving meat quality in the country.”

The imported purebred animals will create a nucleus herd at BAMSI’s farm in Andros to upgrade the existing livestock population.  Their offspring will breed with the native flock, and some of the offspring will be distributed to local farmers.  This collaborative effort between BAMSI and the Ministry of Agriculture aims to enhance the genetic potential of the native flocks, ultimately benefiting farmers and consumers alike.

The BAMSI herd, comprising 190 animals, is expected to grow as the breeding programme progresses.  The next phase involves artificial insemination, marking a crucial step towards achieving BAMSI’s goal of increasing the quantity and improving the genetic quality of Bahamian livestock.  The institute’s dedication to scientific advancements in agriculture promises a more sustainable and prosperous future for the local farming community.

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