New government to re-examine off-shore banking law

BAHAMAS - The Bahamian government will re-examine new laws tightening regulation of secretive offshore banks to reduce costs and red tape, The Jamaican Observer quoted Bahamas' deputy finance minister as saying.

The Progressive Liberal Party government, elected in a landslide victory on Thursday, "recognizes the need for The Bahamas to meet international standards", former central bank governor James Smith said on national television. However, the government will review the laws to accommodate

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