Bahamas steps up supervision

The Central Bank of The Bahamas has asked resident commercial banks to submit group organisational charts in order to comply with the Basel core principles for effective banking supervision.

The chart must detail the overall organisational structure of the banks' licensees and subsidiaries, including information on parent and sister companies.

The chart must also indicate:

the percentage of shares held by each party;

the country of domicile for each company; and

any types of financial sector

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