2019-06-27-05-58-42-Banks-and-Trust-Companies-Licensed-in-The-Bahamas-30-09-12.pdf

Here are the key points summarized:

List of Banks and Trust Companies Licensed Under the Banks and Trust Companies Regulation Act, 2000

• As at September 30, 2012
• Includes public, restricted, nominee trust, and non-active licensees

Definitions of Terms:

1. Authorised Dealer: A bank authorized by the Central Bank to deal in gold and foreign currencies.
2. Authorised Agent: A bank or trust company authorized by the Central Bank to deal in Bahamian and foreign currency securities.
3. Resident: A bank or trust company allowed to operate only in Bahamian Dollars, with no need for Exchange Control authorisation.
4. Non-Resident: A bank or trust company permitted to operate freely in foreign currencies, but requires Exchange Control approval to operate a Bahamian Dollar account.
5. Public Licensee: A bank or trust company allowed to carry on banking and/or trust business with members of the public.
6. Restricted Licensee: A bank or trust company allowed to carry on business for specified persons.
7. Nominee Trust Licensee: A bank or trust company restricted to providing nominee services only, including holding securities and assets in its name.
8. Non-Active Licensee: A bank or trust company that is either in voluntary liquidation or an approved dormant licensee.

Note: LQD stands for "In Liquidation" and refers to a non-active company that is in the process of being wound up or dissolved.