[xml][/xml]
The Bahamas Weekly Facebook The Bahamas Weekly Twitter
News : Bahamas Information Services Updates Last Updated: Feb 13, 2017 - 1:45:37 AM


Bahamas Financial Services Professionals Must Strive to Remain ‘Relevant’
By Betty Vedrine
Sep 17, 2015 - 4:44:57 PM

Email this article
 Mobile friendly page
hope-strachan_9052.jpg
Minister of Financial Services, the Hon. Hope Strachan delivering the keynote address at the opening ceremony of the Bahamas Institute of Financial Services, Bahamas & Caribbean two-day conference, September 16-17, at the British Colonial Hilton. (BIS Photo/Letisha Henderson).

NASSAU, The Bahamas – Minister of Financial Services, the Hon. Hope Strachan urges professionals in the Financial Services sector to continue to pursue education and training in order to remain competitive. The Minister was the keynote speaker during the opening ceremony of the Bahamas Institute of Financial Services Caribbean Regional Conference. The two-day conference is being held at the British Colonial Hilton September 16-17 under the theme “Enhancing Professionalism in Financial Services through Innovation, Education and Confidence.” Also in attendance was Minister of State for Legal Affairs, the Hon. Damien Gomez. Minister Gomez gave an overview of the role of Association of International Banks and Trust Companies (AIBT).

Minister Strachan said given the important role of financial services in the Bahamian economy, accounting for 15% of the Gross Domestic Product (GDP), it is incumbent on professionals to remain 'relevant' in an ever- changing environment.

“I cannot emphasize enough the importance of The Financial Services Industry to the economy of The Bahamas,” said Minister Strachan. “The sector accounts directly for 15% of the GDP of our country, second only to the tourism sector in terms of economic impact. It also employs the largest segment of highly skilled workers and offers a diverse range of job opportunities and professions for individuals who desire to pursue a career in the financial services.”

The Minister said that these job opportunities range from entry-level positions, supervisory, middle management to executive management. With such a vast range, the Minister said that today’s financial services sector professionals must first recognize that it cannot be 'business as usual.'

She said: “The substance or basis for a career or profession in the financial services industry is a quality education. It might well sound cliché but education is “the key.” Apart from the obvious need to ensure that we make the most of our high school education I believe that it is fair to say that tertiary education is critical to a successful career or profession in Financial Services. It is important not only to your career but also to your own personal development.”

IMG_9076.jpg
Minister of State for Legal Affairs, the Hon. Damien Gomez gives an overview of the role of the Association of International Banks and Trusts (AIBT) during the opening ceremony of the Bahamas Institute of Financial Services, Bahamas & Caribbean two-day conference at the British Colonial Hilton, September 16-17. (BIS Photo/Letisha Henderson).

Minister Strachan congratulated BIF for its many contributions to the continued professional education of persons in financial services, which cover a wide array of courses including compliance and anti-money laundering, trusts and estate planning, risk management, and executive leadership.

“BIFS has partnered with a number of leading international educational institutions to offer these courses. I further applaud BIFS for establishing the G-12 program for students entering grade 12 to follow a seven-month four (4) module program to study business calculations and computers, economics, financial institutions and ethics. The program also affords them the opportunity to visit a financial institution to explore and learn about its operations. I note that over 100 students have graduated since the program was launched in 2008,” she said.

She added that consequently, The Bahamas was selected amongst Caribbean counterparts as the country in which to establish the Centre for Excellence, along with Barbados, because of the progress already made in providing education in financial services as well as our infrastructure and technology.

She also commended the AIBT for establishing a language immersion program. Other strides in the sector include a partnership in which the Ministry of Financial Services has partnered with Bahamas Financial Services Board (BFSB) and The Ministry of Education to introduce The Rosetta Stone Language program in Spanish to our Public High Schools which began in September of this year.

“This program is being offered to over 200 students who at the end of successfully completing the program will have the opportunity to visit a Spanish-speaking country for language immersion, recognizing that the future of financial services and indeed for The Bahamas lies within our youth. History shows that this is the best investment that a country can make.”



Bookmark and Share




© Copyright 2015 by thebahamasweekly.com

Top of Page

Receive our Top Stories



Preview | Powered by CommandBlast

Bahamas Information Services Updates
Latest Headlines
Junkanoo Summer Festival Is Back, Bigger and Better
ZNS Celebrates 86th Anniversary with Church Service
Doctoral degree posthumously conferred to Hon. A.D. Hanna by University of The Bahamas
Select Jif Peanut Butter Products Recall - Update
Dr. Rodney Smith confers final degrees as President and CEO of UB: asks graduates to take the next step with an open mind