Vincent Peet, Minister of Financial Services & Investments, has announced the Bahamas Government's renewal of a mandate for the Financial Services Consultative Forum (FSCF).
Established in December 2002, the FSCF is a private sector group that advises and lobbies the government on matters related to the financial services industry.
The FSCF's role is to institutionalise the consultation process already in place between the public and private sector with regard to financial services development. It also advises government on the state of the financial services sector, the impact of competing jurisdictions and to recommend strategies, legislation and products to better position The Bahamas as a cutting edge blue chip financial centre.
Attorney Brian Moree has been reappointed Chairman of the FSCF.
While speaking on Central Bank of the Bahamas statistics on the contribution of the banking and trust sector, Peet said that the government "fully appreciates" the benefits derived from the financial services industry and argued that the sector has the potential to make "an even greater contribution to our gross domestic product."
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