The Association, recognizing that The Bahamas is a leading international financial centre, has agreed this Code as being important to the financial supervision of this centre, the prevention and detection of money laundering and the preservation of confidentiality in the conduct of banking relationships.

This Code is intended to:

  • Promote best international standards of banking practice as recognized by the Basel Committee on Banking Supervision and the Wolfsberg AML Principles;
  • Reaffirm the standards of confidentiality and privacy as required by law and good banking practice;
  • Evidence the Association’s commitment to the legal and regulatory framework governing the bank and trust company sector;
  • Maintain the position ofThe Bahamas as a leading international financial centre for the conduct of international banking.