The Tribune

The Bahamas dropped once place to fourth spot among Specialised Financial Centres in the 2013 ranking of International Financial Centres (IFCs)by The Banker, published by The Financial Times.

The Bahamas also saw its score cut by 3.33, falling from 36.33 in 2012 to 33 this time.

The Banker’s ranking of IFCs is based on data ranging from financial markets indicators to economic potential and business environment.

It also focuses on the level of international business and the value offered to institutions seeking to expand their international operations.

In recognition of the fact that data for specialised financial centres may not be consistent with that for mainland financial centres, The Banker surveys each participating specialised IFC and compiles a separate table using information relevant to these locations.

Most of the data for the specialised financial centres ranking is supplied to The Banker by each centre. The Central Bank of the Bahamas, the Securities Commission of the Bahamas, the Insurance Commission of The Bahamas and the Bahamas International Securities Exchange assisted the Bahamas Financial Services Board (BFSB) with compiling information for The Banker.

“We are pleased that The Banker’s ranking continues to place the Bahamas within the top tier of specialised financial centres,” said Aliya Allen, BFSB’s chief executive and executive director.

“However our goal is to ensure that we continue to evolve and refine our offerings as a financial centre. We know we are making headway in this regard but we will not be satisfied until we top the list and maintain that position year in and year out.”