Regulatory Alerts2021-06-30
Dormant Accounts Guidelines June 2021
The Central Bank of The Bahamas has issued the Dormant Accounts Guidelines to establish minimum regulatory standards for licensed banks managing inactive deposit accounts. The framework requires financial institutions to identify, administer, and investigate dormant balances that have experienced no customer-initiated transactions for seven years. Banks must align their internal policies with these standards to ensure the proper ultimate disposition of dormant account funds under regulatory supervision.
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