Regulatory Alerts2019-06-26
Central Bank of The Bahamas Physical Presence Guidelines
The Central Bank of The Bahamas mandates minimum physical presence requirements for licensed banks and trust companies to ensure robust local governance, record-keeping, and operational infrastructure. Licensees must appoint at least two resident executive officers and one local non-executive director while maintaining essential client, corporate, and compliance records either locally or remotely with real-time access. The guidelines further require dedicated office space, secure back-up storage options for restricted entities, and strict retention and retrieval protocols to facilitate continuous regulatory oversight.
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