Regulatory Alerts2021-07-27
Code of Practice for SFIs Managing Catastrophe-Related Staff Issues
The Association of International Banks and Trusts and the Clearing Banks Association jointly issued this Code of Practice to guide Bahamian Supervised Financial Institutions in managing staff during catastrophic hurricanes. The document establishes clear communication protocols, defined evacuation procedures, and targeted assistance programs to maintain operational continuity before, during, and after storms. It requires institutions to activate business continuity plans 96 hours prior to landfall, verify staff contact lists, and provide financial or logistical support to ensure workforce safety and rapid recovery.
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