HSBC also appeared to reassure Mossack Fonseca not only that it was "comfortable" with Makhlouf as a client but suggested there could be a rapprochement with the Assad family by the US. Makhlouf is already known to be a long-standing client of HSBC's Swiss private bank, holding at least $15 million with it in multiple accounts in 2006. The Panamanian files also show HSBC provided financial services to a Makhlouf company called Drex Technologies, which HSBC said was a company of "good standing".
Other popular sports are swimming, tennis and boxing, where Bahamians have enjoyed some degree of success at the international level. Other sports such as golf, rugby league, rugby union, beach soccer, and netball are considered growing sports. Athletics, commonly known as 'track and field' in the country, is the most successful sport by far amongst Bahamians. Bahamians have a strong tradition in the sprints and jumps. Track and field is probably the most popular spectator sport in the country next to basketball due to their success over the years. Triathlons are gaining popularity in Nassau and the Family Islands.
More InfoComputer security expert Chris Kubecka announced May 24, 2016 that the Mossack Fonseca client login portal was running four different government grade remote access trojans (RATs). Kubecka confirmed there were still numerous critical vulnerabilities, too many open ports into their infrastructure and internet access to their archive server due to weak security. Kubecka explained how each data security issue was discovered in detail in a full-length book titled Down the Rabbit Hole: An OSINT Journey.
More InfoThe islands' population is predominantly Christian. Protestant denominations collectively account for more than 70% of the population, with Baptists representing 35% of the population, Anglicans 15%, Pentecostals 8%, Church of God 5%, Seventh-day Adventists 5% and Methodists 4%. There is also a significant Roman Catholic community accounting for about 14%. There are also smaller communities of Jews, Muslims, Baha'is, Hindus, Rastafarians and practitioners of traditional African religions such as Obeah.
More InfoThe OECD, the G20, or the European Union could also institute another list for countries that are inadequate in more than one area. Countries meeting none of these criteria, such as Panama, Vanuatu and Lebanon, would go on the blacklist. Countries that meet only one criterion would go on the greylist. In April 2016, if this greylist had been in place it would have included nine countries: Antigua and Barbuda, Bahrain, Brunei, Dominica, Liberia, Nauru, Samoa, Tobago and the United Arab Emirates.
More InfoThe 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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