Guidance Notice on Restricted Bank Licences

402.
The Central Bank of The Bahamas
G U I D A N C E N O T I C E
Re: Restricted Bank Licences
Licensee: Name
Central Email: Email Address
This Notice is intended to formalize the policy of the Central Bank of The Bahamas (“the Central Bank”) with respect to its discontinuance of granting restricted bank licences. The Central Bank has ceased the practice of granting restricted banking licences since 2012 and has ‘grandfathered’ those already in our system, of which only one remains. This stance is in keeping with the strict definition of a bank defined as one that accepts deposits from the public. This policy does not apply to restricted trust licences. Comments or questions regarding this Notice should be directed to:
The Policy Unit
Bank Supervision Department
The Central Bank of The Bahamas
Market Street
P.O. Box N-4868
Nassau, Bahamas
Tel: (242) 302-2615
Fax: (242) 356-3909
Email: Policy@centralbankbahamas.com
Issued: 19 th October, 2016