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BAHAMAS: Small Islands Have to Grapple with the Imposition of External Standards Set by Larger Countries

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#Nassau, September 17, 2018 – Bahamas – Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest said small islands like The Bahamas have to grapple with the imposition of external standards set by the world’s large countries when it comes to the financial sector.

“This sometimes happens without due regard for national sovereignty or the spirit of international cooperation that should exist. This is a challenge we must acknowledge and address,” DPM Turnquest said at the two-day AML/CFT Anti-Money Laundering: Countering the Financing of Terrorism 2018 Risk Management Conference at Baha Mar, September 17, 2018.

He also said small countries must participate in proactive international engagement.

“We cannot be satisfied to only anticipate or adapt to changes.  Importantly, we must mobilize with our regional counterparts, and engage at the highest levels to shape the nature and direction of change in the industry.  We must take a seat at the table when it comes to shaping international standard.”

The DPM explained that much of this work is done at the inter-governmental level and requires strong leadership.

“In May of this year, the government formulated a comprehensive strategic plan to secure the viability of the industry.  Under the 10 broad categories, covered in the strategic plan, we identified strengthening international collaboration as an important strategic priority.  We also specified the need for the Ministry of Finance to strengthen its intellectual capital with specialized skills to enhance our presence and representation in the international arena.”

He said small jurisdictions like The Bahamas are committed to international standards not just because it is in their economic interest to comply, and not just because larger international partners can deploy their influence to exert pressure over the entire industry.  He said, “In the case of the United States and Europe, they have required every country and every bank in the world to support their tax collection efforts.”

DPM Turnquest explained that the incentive provided for this work, with aggregate compliance costs amounting to many billions of dollars, is the risk of being shut out of access to US dollar clearing and the international financial markets.

He said this threat is not a survivable for a country such as The Bahamas, which imports more than 80 per cent of its food and nearly 100 per cent of its energy, and therefore needs greater access to such clearing mechanism than less open economies.

“We know our size and interdependence makes us more vulnerable to the threat of harmful economic sanctions; however, we are committed to a strong AML/CFT regime more fundamentally because we share a common set of values and desired outcomes with our bilateral and multilateral partners.”

The DPM said despite the country’s historical reputation, The Bahamas makes no home for individuals or entities seeking to launder proceeds through criminality, or those who might expose our society to the risk of terrorism.

“This is an international code of practice, but in a domestic context, we place our own value on an environment that has integrity, that is competitive, robust, well-regulated and safe.”

He said the spirit of cooperation based on shared values and outcomes, and respect for the sovereignty of nations must underpin the system of international codes of conduct.  History and experience demonstrate that there is need for more proactive engagement at the international level to ensure this is the case.  The DPM said therefore, the government is actively enhancing its capacity and performance in this area.

 

By Llonella Gilbert

Release: BIS

 

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Mother’s Pride Headlines Bahamian Takeover at Sixers-Heat Clash in Miami

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The Bahamas, March 30, 2026 – The voice of a proud mother captured the spirit of a nation Monday night, as Bendra Rolle shared heartfelt reflections on the overwhelming Bahamian support for her son, VJ Edgecombe, during the Philadelphia 76ers matchup against the Miami Heat in Miami.

“The patriotic support and scenery at my son, VJ Edgecombe’s NBA game… was overwhelming,” Rolle said in a statement issued following the game. “The arena in Miami was lit. Bimini and the Bahamas showed up and showed out.”

Her words come amid what has already been widely described as a remarkable showing of national pride, with Bahamians traveling in large numbers to South Florida to witness the young guard’s continued rise. For Rolle, however, the moment extended far beyond basketball.

“Beyond VJ’s basketball talents, I’m so moved by his magnetic personality and personal journey to inspire and excite an entire nation—our beloved Bahamas,” she said. “I thank God for VJ’s humility and for his hunger for greatness. He never forgets how far God has brought us.”

While the Sixers did not secure the win on the night, Edgecombe delivered a solid individual performance, finishing with 13 points and five assists. He made an early impact on the game, showing confidence and poise before foul trouble disrupted his rhythm, but still managed to leave his mark in meaningful minutes.

The game itself evolved into a cultural showcase, with Bahamian flags waving throughout the arena and chants ringing out in support of Edgecombe. Much of that presence was bolstered by a coordinated travel push from Bahamasair, which helped facilitate fan travel and added to the electric atmosphere in Miami.

Rolle said the emotional weight of the moment was deeply felt by her family, as they witnessed firsthand the unity and pride of the Bahamian people.

“Thanks and love for the tears and overwhelming joy on Monday, Bahamas,” she expressed. “The Bahamian flags were love, loud, and proud. On my own behalf, VJ, and the entire family, I am ever grateful for the indescribable experience.”

Her closing words underscored what many have described as the true victory of the night—not the final score, but the powerful display of national pride and support surrounding one of The Bahamas’ rising stars.

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Bahamasair Backs Surge as Bahamians Flood South Florida for V.J. Edgecombe Showdown  

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PHOTO BY SIXERS NATION

 

Bahamian pride is already on full display in South Florida, with fans arriving in strong numbers ahead of tonight’s highly anticipated NBA matchup featuring VJ Edgecombe and the Philadelphia 76ers.

Helping to power that movement was Bahamasair, which rolled out a strategic promotion to facilitate travel, turning the game into a full-scale national showing.

And the celebration started early.

A “Bahamas Invades Florida” pre-party over the weekend set the tone, with Bahamian fans, DJs and supporters converging in Fort Lauderdale to build momentum ahead of the game.  The event, marketed as a major cultural gathering, has spilled into Miami, where a strong Bahamian presence is expected inside the arena tonight.

This is no ordinary road game.

The Sixers enter the matchup healthy and are favoured to win, adding to the anticipation surrounding what many expect to be a standout performance by the Biminite guard.

Edgecombe, the third overall pick in the 2025 NBA Draft, has been electric in his rookie season — delivering high-scoring performances and quickly establishing himself as one of the league’s most exciting young talents.

But beyond the stats, it’s the moment that matters.

With South Florida just a short flight away, Bahamians have seized the opportunity to show up in force — flags, energy and all — transforming the game into something far bigger than basketball.

A national turnout.
A rising star.
And a night where the Bahamas is expected to be felt — from tip-off to final buzzer.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas Warns Travellers as UN says Middle East Conflict May No Longer Be Contained

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The Bahamas, March 18, 2026 – Twenty days into the latest Middle East escalation, the United Nations is warning the conflict is spreading beyond its original battlefield, as the death toll rises and governments around the world issue urgent travel advisories — including The Bahamas.

In a March 17 statement, the UN Secretary-General’s office said the war must stop and called for all Security Council resolutions to be respected, noting with concern that countries in the Gulf continue to be targeted, raising fears of a wider regional confrontation.

The current round of fighting began February 28 with strikes involving the United States, Israel and Iranian-linked forces, followed by missile and drone attacks across Iraq, Lebanon and parts of the Gulf.

International monitors report more than 1,300 people killed in Iran alone, with additional casualties reported in Lebanon, Israel and Gulf states. U.S. officials confirm at least 13 American service members have died since the escalation began, while reports indicate additional senior Iranian military leaders were killed in recent strikes.

Despite the growing violence, several NATO countries including the United Kingdom, France and Germany have not joined offensive operations, instead calling for diplomacy to prevent the conflict from widening.

The Bahamas Ministry of Foreign Affairs has also issued a travel advisory, warning Bahamian nationals to avoid travel to Israel, Palestine, Iran and Lebanon and to reconsider travel across much of the Gulf region due to the risk of sudden escalation, flight disruptions and security threats.

Officials say Bahamians already in the region should remain vigilant and be prepared for rapidly changing conditions.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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