The Tribune

MINISTER of Financial Services Ryan Pinder announced an “exciting” educational initiative his ministry has undertaken in collaboration with the Bahamas Institute for Financial Services.

“I am proud to announce that in January of 2014, BIFS will roll-out two internationally-endorsed courses pertinent to the financial services sector, namely, a Certification in Taxation and a Certification in Corporate Finance,” Mr Pinder said.

“These course programmes were proposed and initially designed by my ministry. We recognised in both concentration areas that there was a ‘knowledge gap’ within the industry and were committed, in partnership with BIFS, to design the appropriate course framework to address these gaps.”

Mr Pinder added that the proposed certificate programmes were designed to provide financial service professionals, legal practitioners and other professionals with specialised knowledge and a firm foundation for higher level qualifications in areas of particular relevance to the financial services sector.

He pointed out that since the re-establishment of his ministry in 2012, it has identified human development as an essential pillar of its 10-year strategic plan.

This, he noted, is part of the ministry’s overall vision to strengthen the financial services sector in the Bahamas and, by extension, to improve the country’s economic prospects and long-term development through the use of education and training.

“In other words, recognising that education and training are key drivers of social and economic development, our hope is that through education, training and development – financial services will not only be a source of high paying jobs and career development; but also a source of entrepreneurial activity for Bahamian professionals and the most efficient and productive sector of our economy,” Mr Pinder said.

“We also hope that a positive extension would be the development of a highly skilled sophisticated workforce that is aligned with the current and future needs of the financial services labour market in the Bahamas.”

Minister Pinder noted that the courses deal with taxation, because it has become a topical and prominent domestic and international theme.

“Meanwhile, once the domain of traditional investment bankers only, today’s corporate finance field also has active participants from commercial banking, entrepreneurs in venture capital and governmental agencies,” he said.

Minister Pinder expressed his appreciation and the gratitude of his ministry to BIFS for its willingness to collaborate with the Ministry of Financial Services and continued enthusiastic support of, in particular, the ministry’s human development efforts.

“We look forward to continuing our partnership with BIFS and our other financial services partners in developing a platform of skills in the Bahamas that will translate into real wins for individuals, employers and society at large,” Minister Pinder said.

He stressed that he wants to make sure Bahamian professionals have an equal opportunity to move from the back office – where their skills and talents have been focused and appreciated for a number of years – to the front office where client interfaces and exchanges occur.

“I am seeing some positive advancement in this regard and my hope is that educational initiatives such as that being presented today would witness the continuance and acceleration of this trend,” he said.