Central Banking in The Bahamas
DOI:
https://doi.org/10.15362/ijbs.v2i0.67Abstract
The Central Bank, as the premier financial institution, is entrusted with the responsibility of formulating and conducting monetary policy on behalf of the Government by exercising discretionary control over the monetary and financial system. Monetary policy plays a very important role in the process of economic growth and development and the Central Bank is empowered with various tools of monetary and credit control which can be applied singly or in combination to achieve various policy objectives such as a stable rate of economic growth; a high level of employment; stability in the purchasing power of the local currency and a viable balance of payments position. This article will essentially be concerned with the operations of the Central Bank as it relates to the domestic banking system. However it will also examine the Bank's relationship with the offshore banks as this is a unique feature of central banking in The Bahamas.References
Clark, P. (1977, Autumn). The making of the Asian dollar market. Crown Agents Quarterly Review.
Chown, J. F., & Kelen, T. F. (1975). Offshore investment centres. Banker Research Unit.
Pakenham, K. (1976, June). The growth of Euromarkets. Crown Agents Quarterly Review, 1, p. 24.
Ramsaran, R. F. (1976). The monetary and financial system of The Bahamas: Growth, structure and operation. Institute of Social and Economic Research, University of the West Indies. https://cert-net.com/files/publications/monograph_book/TheMonetaryandFinancialSystemoftheBahamas.pdf
Supervising the Eurocurrency dinosaur. (1978, August). The Banker, pp. 677-679.
Thorn, P. (1976). The Commonwealth of The Bahamas: Profile of an offshore investment centre. Central Bank of the Bahamas.
