The Securities Commission of The Bahamas (SCB) has unveiled its 2024 Annual Report, highlighting its initiation of foundational research into the tokenization of real-world assets. This move comes in response to growing interest from licensees and other stakeholders in the digital asset space. The SCB has commenced drafting three comprehensive papers that delve into the characteristics of asset tokenization, its prevalent applications, and the associated benefits, risks, and regulatory challenges. While these papers do not aim to establish policy recommendations, they will serve as preliminary research to guide future regulatory decisions. Tokenization, the process of converting physical assets into digital tokens on a blockchain, enables the digital representation of ownership or rights in assets such as real estate, commodities, art, and intellectual property. These tokens can be traded or sold digitally, offering new opportunities for asset management and investment. Additionally, the report disclosed that 25 firms were registered under the Digital Assets and Registered Exchanges Act (DARE) by the end of 2024. The DARE Act, enacted on 29 July 2024, replaced its 2020 predecessor, introducing significant updates to the regulatory framework for digital assets and exchanges. The SCB’s DARE Unit continued to engage in pre-applicant meetings to facilitate registrations under the Act. On the enforcement front, the Commission reported 18 ongoing matters from 2023, with two new litigation cases and one criminal case initiated in 2024. As of 31 December 2024, 20 enforcement matters remained unresolved, including 13 litigation cases, three administrative issues, and four criminal investigations. Administrative matters primarily involved non-compliance with filing obligations and record-keeping requirements under the Securities Industry Act and Regulations.
分类： business
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Sky Caterers in Puerto Rico and Dominican Republic earn perfect scores in Delta audits
Sky Caterers, the in-flight kitchen operator at Luis Muñoz Marín International Airport in Puerto Rico and Las Américas International Airport in the Dominican Republic, has achieved exceptional results in Delta Air Lines’ food safety and quality audits. Both facilities earned a perfect 100% score in Food Processing Quality and Food Processing Safety, meeting Delta’s stringent industry standards. Augusto Del Valle, Corporate Director of Catering for the Caribbean, commended the accomplishment, emphasizing the rigorous nature of Delta’s audit process. Ada Torres, Operations Director at Las Américas, highlighted that the inspections were conducted by Medina Quality, an independent international firm renowned for its unannounced evaluations, ensuring impartiality and precision. The audits encompassed all aspects of food preparation, packaging, storage, and delivery, alongside interviews and reviews of critical control systems. Key records, including cleaning checklists, temperature controls, and product traceability, were meticulously examined. The final report confirmed Sky Caterers’ flawless performance and dedication to operational excellence, solidifying its reputation as a leader in meeting the aviation industry’s highest standards.
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No agreement yet with U.S. company to supply cheaper fuels to Guyana
Nearly eight months after the Guyana government announced plans to secure cheaper fuels for its citizens through a partnership with U.S.-based Curlew Midstream, Vice President Bharrat Jagdeo revealed on Thursday that no formal agreement has been signed. The deal, which aimed to establish a storage facility in Guyana, has been delayed due to significant differences in the terms. Negotiations were suspended until after the September 1 general and regional elections. Jagdeo emphasized that the government would only proceed with an agreement that ensures long-term benefits for Guyana while delivering immediate cost reductions. The proposed project involved procuring fuels through Curlew Midstream and building a tank farm to store additional fuel, potentially lowering procurement costs by 20% to 35%. Jagdeo reiterated the government’s commitment to thorough due diligence, stating that they would not rush into any agreement that could harm the country’s future. The project, initially announced in February 2025, also envisioned Guyana becoming a fuel hub for the Caribbean and northern Brazil, with Curlew Midstream investing $300 million in a state-of-the-art depot capable of storing 750,000 barrels of various fuels.
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Legislators warn of economic and migration crisis if HELP program ends
In Santo Domingo, a coalition of legislators, economists, and Haitian representatives is advocating for the renewal of the Haiti Economic Enhancement Program (HELP) Extension Act. They caution that its discontinuation could result in the loss of approximately 25,000 jobs in Haiti and the Dominican Republic, while simultaneously exacerbating migration pressures. Dominican Senator Omar Fernández (Fuerza del Pueblo) emphasized that the program has been instrumental in attracting investment to the border region and serving as a deterrent to illegal migration. He warned that its termination could lead to an influx of unemployed Haitians seeking opportunities in the Dominican Republic. Economist Edita Rodríguez Salce highlighted the broader economic repercussions, noting that the program’s end would adversely affect both nations and threaten the free trade zone sector, which employs thousands in companies producing for renowned brands like Victoria’s Secret, Calvin Klein, and Klass. William Charpentier, coordinator of the National Roundtable for Migration and Refugees, described the potential dismantling of the program as a devastating blow to Haiti, which is already grappling with political and economic collapse. He criticized the inconsistency of international support, pointing out that while governments express solidarity with Haiti, critical initiatives like HELP are allowed to lapse. The closure of the textile sector, one of Haiti’s few remaining economic lifelines, would further deepen the country’s ongoing crisis.
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New development bank to start up with US$200 million in tranches
Guyana is set to establish a new development bank in 2026, with an initial seed capital of US$200 million, Vice President Bharrat Jagdeo announced on Thursday. The funds will be allocated in tranches, contingent on demand assessments, and will be integrated into the 2026 national budget. Jagdeo emphasized the importance of mentoring, financial literacy, and technical support to ensure borrowers can repay loans, creating a sustainable revolving fund. He expressed confidence in the bank’s success, acknowledging a potential 10% failure rate, consistent with global financial systems. The government will periodically inject additional capital as revenues grow, ensuring the bank’s long-term viability. Currently, a concept paper for the proposed bank is under development. This initiative follows the dissolution of the Guyana Cooperative Agricultural and Industrial Development Bank (GAIBANK) in 1995 due to high non-performing loans, which was later merged with the Guyana National Cooperative Bank before its closure in 2002.
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Barbados & Dominica Join Forces To Offer Multi-Destination Tourism Experiences
In a groundbreaking move to enhance their tourism sectors, Barbados and Dominica have signed a Memorandum of Understanding (MOU) to collaborate on marketing, sustainable tourism, and multi-destination packages. The agreement was formalized on October 1, 2025, at the Hilton Barbados Resort during the State of the Tourism Industry Conference (SOTIC). Represented by the Barbados Tourism Marketing Inc. (BTMI) and the Discover Dominica Authority (DDA), the partnership aims to leverage the unique strengths of both islands to attract global travellers and foster regional economic growth.
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NCCU president announces assets close to $1 billion mark with 15th anniversary launch
The National Cooperative Credit Union (NCCU) marked its 15th anniversary with a grand celebration, highlighting its remarkable growth and community contributions. Clement Marcellin, President of the NCCU Board of Directors, revealed that the institution now boasts an impressive asset size of $800 million, nearing the billion-dollar milestone. Speaking at the anniversary launch event on Wednesday, Marcellin reflected on the institution’s journey since its amalgamation, emphasizing its transformation into the largest credit union in the Organization of Eastern Caribbean States (OECS) with over 54,000 members.
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Lack of financial statements showing MNIB history delaying its transformation
The Grenadian government has initiated a significant transformation in its agricultural sector by replacing the long-standing Marketing and National Importing Board (MNIB) with a new entity, Import-Export Agromart (IMEXA) Ltd. This move comes after years of financial mismanagement and inefficiencies within the MNIB, which had necessitated repeated government bailouts. Prime Minister Dickon Mitchell highlighted the absence of financial statements as a major obstacle in securing a private partner for the MNIB. ‘The MNIB was so poorly run that there were no financial statements for many years,’ Mitchell stated during an interactive talk show, ‘DMs with the PM.’ The government has since taken decisive steps to address these issues, including the payment of severance and termination benefits totaling $2,667,892.73 to all 87 MNIB staff members recorded as of 28 February 2023. In August 2023, the government successfully refinanced approximately EC$5 million of debt owed by the MNIB to a local commercial bank, consolidating all outstanding principal balances at an interest rate of 4.0% to be repaid over 10 years. Finance Minister Dennis Cornwall announced in March 2025 that the MNIB would cease operations before the third quarter of 2025, with IMEXA Ltd. established as its successor. Legal and financial experts are currently developing a prospectus and legal agreements to engage a suitable strategic partner for the new entity, aiming to have it operational by the end of the third quarter of 2025.
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Nano-grant sparks growth for Dames Electrical
KINGSTON, Jamaica – At 34, Dominic Morgan, the founder of Dame’s Electrical and Home Renovation Services, is a living testament to how determination, skill, and targeted support can transform small beginnings into significant opportunities. His journey into the world of electrical repairs began in childhood, fueled by an insatiable curiosity for dismantling electronics—even if he didn’t always know how to put them back together. What started as a childhood fascination evolved into a passion that now anchors his livelihood.
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Forex: $161.34 to one US dollar
KINGSTON, Jamaica — The foreign exchange market in Jamaica witnessed a day of mixed movements on Friday, October 3, as the US dollar remained stable while other major currencies experienced declines. According to the Bank of Jamaica’s daily exchange trading summary, the US dollar closed at $161.34, showing no change from the previous trading session. In contrast, the Canadian dollar saw a dip, ending the day at $115.84, down from $117.23. Similarly, the British pound also recorded a slight decrease, closing at $216.85 compared to $217.17 the day before. These fluctuations highlight the dynamic nature of the global currency market, with the US dollar maintaining its resilience amidst shifting economic conditions. The Bank of Jamaica continues to monitor these trends closely, providing essential insights for investors and policymakers navigating the complexities of international finance.