The Tribune

The Bahamian financial services industry yesterday urged the Government to adopt “a more calibrated and sensitive approach” to Immigration enforcement following Tuesday’s detention of a senior UBS (Bahamas) banker.

The Association of International Banks & Trust Companies (AIBT) and the Bahamas Financial Services Board (BFSB) issued a joint statement following a series of meetings with the Prime Minister and other government ministers, amid the fallout from Immigration’s treatment of UBS (Bahamas) executive director, Emmanuel Fiaux.

“AIBT and BFSB executives expressed that while the industry understands and respects the Government’s ongoing efforts to enforce the country’s Immigration laws, the industry believes that it is critically important that a more calibrated and sensitive approach be taken, so as to avoid unnecessary detentions of individuals duly authorised to live and work in the Bahamas,” the financial industry said.

“It was further stressed that we must work together to ensure that no harm is inflicted on the Bahamas’ reputation as a welcoming nation.”

The Government team also included the Deputy Prime Minister and acting minister of immigration, Philip Davis, and the minister of financial services, Ryan Pinder.

The financial services industry said the Prime Minister and his team “were receptive of the concerns expressed, and reinforced their understanding of the value of the financial services industry to the country”.

They added that the Prime Minister had invited the industry to follow-up meetings with ministers responsible for the various portfolios, and said: “We look forward to engaging the Government in a broader dialogue around issues of labour, Immigration and economic development.

“All stakeholders understand fully that access to financial and human capital are vital, and we must explore meaningful reform to existing regulations and procedures which will encourage the long-term growth and development of the nation.”