Bahamas: Joint Statement From Bahamas Financial Services Board, Association Of International Banks And Trust Companies, Ministry Of Finance, Office Of The Attorney General

AIBT, BFSB and the Ministry of Finance held an industry consultation on the new provisions in the Business License Bill, 2023 (the “Bill”) as it pertains to IBCs who are doing business in or from within The Bahamas and the financial services industry. We are providing this written statement for the benefit of those who were not able to attend the consultation.

The Business License Act (the “Act”) is only applicable to a person who […]

By | August 6th, 2023 ||

EU: What Will The New Basel III Regulation Mean For The EU Banking World?

The European Parliament, the Member States, and the European Commission have agreed on a preliminary compromise to implement Basel III, the internationally agreed banking supervision standards, into European law. This agreement will modify the capital requirement regulations and directives for banks (CRR III and CRD IV). The banking package will also include additional regulations for crypto assets and sustainability risks. The EU is the first jurisdiction worldwide to translate all elements of the new […]

By | August 3rd, 2023 ||

Nigeria: Steps To Establishing A Digital Bank In Nigeria

In recent times, the idea of digital banking has become increasingly popular with the establishment of digital banks. These digital banks like Kuda, Vbank, and ALAT by Wema provide a seamless means of banking by allowing customers open accounts, request debit cards, and perform complex transactions with any digital device.

As a result of the widespread acceptance of this banking model, Fintech Founders are majorly interested in knowing how to set up.

Who can Establish a […]

By | August 2nd, 2023 ||