NASSAU, Bahamas, The Central Bank of the Bahamas (CBTT) Monday, a temporary waiver that had been put in place in October for resident investors applying to invest in government bonds denominated in United States dollars and currently trading in the international capital markets will end at the end of the year.
In October, the CBTT said it had been seeing increasing investor interest in purchasing the Bahamas government instruments.
“After consultation with the Minister of Finance, it has been decided that applications to facilitate such transactions will be approved at the official market rate by the Bank. The waiver of the ICM premium on outflows would preclude any approved transactions from the partial ICM premium rebate on the capital, on the liquidation of the investment, and repatriation of proceeds to The Bahamas,” it said then.
It said since the waiver of the Investment Currency Market (ICM) premium (five percent), the Bank had approved a number of transactions valued at US$201.6 million, and that approved applicants must complete transactions on or before January 31st, 2023.
“The Bank wishes to advise that applications for the said waiver will cease to be accepted after December 31st, 2022. Further, any ICM application received by the Bank on January 1st, 2023, or thereafter, will incur the ICM premium of five percent,” the CBTT said in its statement.
It reminds the public that in order to participate in and conclude ICM transactions, they are required to engage a local broker-dealer, a commercial bank, or an authorized agent, and the securities purchased must be kept in accounts maintained in the custody of the same authorized institutions.
“The waiver of the ICM premium on outflows would preclude any approved transactions from the partial ICM premium rebate on the capital, on the liquidation of the investment and repatriation of proceeds to The Bahamas.,” the statement said.
and then  Monday, a temporary waiver that had been put in place in October for resident investors applying to invest in government bonds denominated in United States dollars and currently trading in the international capital markets will end at the end of the year.){kind=link}