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List of Banks and Trust Companies Licensed Under the Banks and Trust Companies Regulation Act, 2000 as at September 30, 2005

The list includes banks and trust companies licensed by the Central Bank to operate in the Bahamas.
The licenses are categorized into:
- Resident: allows operation only in Bahamian Dollars
- Non-Resident: permits operation freely in foreign currencies, but requires Exchange Control approval for Bahamian Dollar accounts
- Authorised Dealer: authorized to deal in gold and all foreign currencies
- Authorised Agent: authorized to deal in securities and receive deposits (custodianship) under Exchange Control Regulations
The list includes:
- Public licensees: permitted to carry on banking and/or trust business with the public
- Restricted licensees: allowed to carry on business for specified persons or companies
- Nominee Trust Licensees: restricted licensees that hold securities and assets in their name on behalf of clients, but do not carry on other trust business
- Non-Active Licensees: either in voluntary liquidation or an approved dormant licensee

Definitions of Terms

Authorised Dealer: authorized to deal in gold and all foreign currencies under Exchange Control Regulations
Authorised Agent: authorized to deal in securities and receive deposits (custodianship) under Exchange Control Regulations
Resident: allows operation only in Bahamian Dollars
Non-Resident: permits operation freely in foreign currencies, but requires Exchange Control approval for Bahamian Dollar accounts
Public Licensee: permitted to carry on banking and/or trust business with the public
Restricted Licensee: allowed to carry on business for specified persons or companies
Nominee Trust Licensee: restricted license that holds securities and assets in their name on behalf of clients, but does not carry on other trust business
Non-Active Licensee: either in voluntary liquidation or an approved dormant licensee.

Published: 2005-11-14 · Source: CBOB