BISX Chairman Calls For Greater Public/Private Partnership In Running Of The Exchange

by Amanda Banks, Tax-News.com, London

06 February 2004

Letting the Bahamas International Securities Exchange fail would be a serious blow to the development of the jurisdiction’s capital markets, the BISX chairman, Ian Fair, told the Nassau Guardian recently.

Following recent reports that the BISX is again experiencing financial difficulties, Mr Fair argued that the failure of the exchange would have “serious repercussions” for the country as a whole in the eyes of the global investment community. "There is no serious financial services centre anywhere in the world that does not have a fully effective stock market," he observed.

Mr Fair commented to the Guardian that the best solution to solve the exchange’s ongoing cash flow problem was an enhanced relationship between the public and private sectors.

"It was always envisioned as being a joint venture between the public and private sector," noted the BISX chief. "If you look at the development of exchanges elsewhere in the world that's pretty much what happens.”

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