Prime Minister Philip “Brave” Davis argued that amendments to the Anti-Terrorism Act are needed to protect the Bahamas’ financial services sector from proliferation financing risks and meet its international obligations. The Bill would let the country implement UN Security Council sanctions against designated individuals, entities and states without Parliament passing new legislation for each designation. He warned that failing to implement targeted financial sanctions could damage the country’s reputation with correspondent banks, noting compliance costs rose after the Bahamas was grey-listed in 2018. The amendments would apply retrospectively from August 2, 2019, without creating offences for past conduct, and the Opposition also backed the Bill while raising concerns.
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