2019-06-27-06-44-49-Banks-and-Trust-Companies-Licensed-in-The-Bahamas-31-12-08.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 December 31, 2008
• The list includes banks and trust companies authorized to operate in the Bahamas
• The list includes information such as master code, BSD code, licensee name, residency status, bank/trust company name, P.O. box, telephone number, and fax number

DEFINITIONS OF TERMS

• Authorised Dealer: A bank authorized by the Central Bank to deal in gold and all foreign currencies.
• Authorised Agent: A bank or trust company authorized by the Central Bank to deal in Bahamian and foreign currency securities and to receive securities into deposits (i.e. to act as custodians).
• Resident: A bank and/or trust company that can only deal in Bahamian Dollars, but operations in foreign currencies require Exchange Control authorisation.
• Non-Resident: A bank and/or trust company that can operate freely in foreign currencies, but Exchange Control approval is necessary to operate a Bahamian Dollar account to pay local expenses.
• Public Licensee: A public bank and/or trust company permitted to carry on banking and/or trust business with members of the public.
• Restricted Licensee: A restricted bank and/or trust company allowed to carry on business for certain specified persons.
• Nominee Trust Licensee: A nominee company that holds securities and other assets in its name on behalf of clients of its parent bank or trust company, but carries on no other trust business.
• Non-Active Licensee: A non-active company that is either in voluntary liquidation or is an approved dormant licensee.

Note: The definitions provided are intended to clarify the different types of licenses and designations held by banks and trust companies operating in the Bahamas.