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.
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.
More InfoColumbus's first landfall in what was to Europeans a 'New World' was on an island he named San Salvador (known to the Lucayans as Guanahani). Whilst there is a general consensus that this island lay within The Bahamas, precisely which island Columbus landed on is a matter of scholarly debate. Some researchers believe the site to be present-day San Salvador Island (formerly known as Watling's Island), situated in the southeastern Bahamas, whilst an alternative theory holds that Columbus landed to the southeast on Samana Cay, according to calculations made in 1986 by National Geographic writer and editor Joseph Judge, based on Columbus's log. On the landfall island, Columbus made first contact with the Lucayans and exchanged goods with them, claiming the islands for the Crown of Castile, before proceeding to explore the larger isles of the Greater Antilles.
More InfoJohnson has been described as a divisive and controversial figure in British politics. Sonia Purnell described Johnson as "the most unconventional, yet compelling politician of the post-Blair era". She added that he was "beloved by millions and recognised by all". Giles Edwards and Jonathan Isaby commented that Johnson appealed to "a broad cross-section of the public", with his friends characterising him as a "Heineken Tory" who can appeal to voters that other Conservatives cannot (a reference to the beer advertisement). Gimson expressed the view that "people love him because he makes them laugh", noting that he had become "the darling of the Tory rank and file".
More InfoIn 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.
More InfoIn August 1940, the Duke of Windsor was appointed Governor of The Bahamas. He arrived in the colony with his wife. Although disheartened at the condition of Government House, they "tried to make the best of a bad situation". He did not enjoy the position, and referred to the islands as "a third-class British colony". He opened the small local parliament on 29 October 1940. The couple visited the "Out Islands" that November, on Axel Wenner-Gren's yacht, which caused controversy; the British Foreign Office strenuously objected because they had been advised by United States intelligence that Wenner-Gren was a close friend of the Luftwaffe commander Hermann Göring of Nazi Germany.
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