The Bahamas

What is The nationality of most of The banks in The Bahamas?

The government has adopted incentives to encourage foreign financial business, and further banking and finance reforms are in progress. The government plans to merge the regulatory functions of key financial institutions, including the Central Bank of the Bahamas (CBB) and the Securities and Exchange Commission. The Central Bank administers restrictions and controls on capital and money market instruments. The Bahamas International Securities Exchange consists of 19 listed public companies. Reflecting the relative soundness of the banking system (mostly populated by Canadian banks), the impact of the global financial crisis on the financial sector was limited.


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  • In 1670, King Charles II granted the islands to the Lords Proprietors of the Carolinas in North America. They rented the islands from the king with rights of trading, tax, appointing governors, and administering the country from their base on New Providence. Piracy and attacks from hostile foreign powers were a constant threat. In 1684, Spanish corsair Juan de Alcon raided the capital Charles Town (later renamed Nassau), and in 1703, a joint Franco-Spanish expedition briefly occupied Nassau during the War of the Spanish Succession.

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  • In 1670, King Charles II granted the islands to the Lords Proprietors of the Carolinas in North America. They rented the islands from the king with rights of trading, tax, appointing governors, and administering the country from their base on New Providence. Piracy and attacks from hostile foreign powers were a constant threat. In 1684, Spanish corsair Juan de Alcon raided the capital Charles Town (later renamed Nassau), and in 1703, a joint Franco-Spanish expedition briefly occupied Nassau during the War of the Spanish Succession.

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  • As with most tropical climates, seasonal rainfall follows the sun, and summer is the wettest season. There is only a 7 °C (13 °F) difference between the warmest month and coolest month in most of the Bahama islands. Every few decades low temperatures can fall below 10 °C (50 °F) for a few hours when a severe cold outbreak comes down from the North American mainland, however there has never been a frost or freeze recorded in the Bahamian Islands. Only once in recorded history has snow been seen in the air anywhere in The Bahamas, this occurred in Freeport on 19 January 1977, when snow mixed with rain was seen in the air for a short time. The Bahamas are often sunny and dry for long periods of time, and average more than 3,000 hours or 340 days of sunlight annually. Much of the natural vegetation is tropical scrub and cactus and succulents are common in landscapes.

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  • The British House of Lords voted to give The Bahamas its independence on 22 June 1973. Prince Charles delivered the official documents to Prime Minister Lynden Pindling, officially declaring The Bahamas a fully independent nation on 10 July 1973, and this date is now celebrated as the country's Independence Day. It joined the Commonwealth of Nations on the same day. Sir Milo Butler was appointed the first governor-general of The Bahamas (the official representative of Queen Elizabeth II) shortly after independence.

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  • The Bahamas consists of a chain of islands spread out over some 800 kilometres (500 mi) in the Atlantic Ocean, located to the east of Florida in the United States, north of Cuba and Hispaniola and west of the British Overseas Territory of the Turks and Caicos Islands (with which it forms the Lucayan archipelago). It lies between latitudes 20° and 28°N, and longitudes 72° and 80°W and straddles the Tropic of Cancer. There are some 700 islands and cays in total (of which 30 are inhabited) with a total land area of 10,010 km2 (3,860 sq mi).

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