Regulatory Alerts2019-06-24
Central Bank of The Bahamas Business Continuity Guidelines
The Central Bank of The Bahamas requires all licensed banks and trust companies to develop, implement, and maintain robust Business Continuity Plans tailored to their operational risk, size, and complexity. Licensees must establish clear board and senior management oversight, conduct regular business impact analyses, define recovery strategies with accessible alternate sites, and validate their plans through continuous testing and staff training. The guidelines mandate formal reporting of plan activation to the Inspector of Banks, annual governance statements confirming strategy validity, and strict adherence to client confidentiality requirements during operational disruptions.
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