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Barbados captive sector adapts, expands amid global shifts
Barbados’ captive insurance sector continues to grow despite facing rising competition as it retains key advantages that continue to attract international entities. That was the central takeaway from a panel discussion at the recent Barbados Risk & Insurance Management (BRIM) conference, hosted annually by the BIBA, the Association for Global Business. Local industry leaders Justin […]
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BRIM expert: Barbados strengthening case for higher credit rating
Barbados’ once-coveted investment grade credit rating can be restored, according to one leading sovereign credit specialist, who says the country is steadily putting in place the reforms and institutional frameworks needed to achieve this goal. Kelvin Dalrymple, Founder and CEO of The Ratings Advisory Clinic (TRAC), delivered this assessment to nearly 300 delegates at the […]
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Expert highlights shifting ALM practises
Local insurers have been encouraged to explore Asset Liability Matching (ALM) as a strategy to hedge against the risks prompted by evolving natural and geopolitical hazards. This was highlighted by global insurance asset management consultant Chris Howells as he addressed the Barbados Risk & Insurance Management (BRIM) Conference held at the Wyndham Grand Barbados Sam […]
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No corporate flight since tax increase, says BIBA President
The immediate exodus of global companies from Barbados following the increase in corporate tax to nine per cent appears not to have materialised, according to president of BIBA, the Association for Global Business, Marlon Yarde. The higher corporation tax rate took effect on January 1, 2024, replacing the previous regime of 5 per cent. Nearly […]
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Central Bank Governor challenges Barbados’ global business sector to deepen economic impact
Governor of the Central Bank of Barbados, Dr. Kevin Greenidge, has challenged the island’s global business sector to play a larger role in strengthening Barbados’ economic resilience by expanding opportunities to earn foreign exchange while reducing the leakage of vital foreign currency. Delivering the keynote address at the BIBA 2026 Economic Outlook Luncheon Seminar, hosted […]
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BRIM 2026 positions Barbados at the forefront of global risk strategy
Despite its small geographic footprint, Barbados continues to exert an outsized influence on global insurance and risk management thinking, according to Marlon Yarde, President of BIBA, the Association for Global Business. Yarde was speaking at the launch of the Barbados Risk & Insurance Management Conference 2026 (BRIM 2026), which is scheduled for March 26 and […]
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BIBA RESPONSE TO THE FATF’S UPDATED LIST OF JURISDICTIONS UNDER INCREASED MONITORING
This is the response of BIBA, the Association for Global Business, to the highly anticipated release of the Financial Action Task Force (“FATF”) Jurisdictions under Increased Monitoring – dated February 23rd, 2024.BIBA welcomes the removal of Barbados from the FATF’s list of Jurisdictions under Increased Monitoring (often referred to as the “Grey List”) – dated […]
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Remarks of Jamar Arthur Selman, President of BIBA, The Association For Global Business, at the Media Launch of Global Business Week 2023
REMARKS OF JAMAR ARTHUR SELMAN, PRESIDENT OF BIBA, THE ASSOCIATION FOR GLOBAL BUSINESS, AT THE MEDIA LAUNCH OF GLOBAL BUSINESS WEEK 2023 ON TUESDAY SEPTEMBER 19 AT THE WARRENS CONFERENCE ROOM, BAOBAB TOWERS. Good morning! I wish to extend warm greetings to our featured speaker today, Senator The Honorable Lisa Cummins, Minister of Energy […]
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Country by Country Reporting Guidance Notes
Please see below the Guidance Note issued by the Global Relations Unit of the Barbados Revenue Authority for your attention. The Guidance Note concerns the following – Country by Country Reporting Currency Fluctuations Guidance Note; and Country by Country Reporting Guidelines on the Appropriate Use of Information.
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Pandemic Contribution Levy
On March 14, 2022 the Minister of Finance and Economic Affairs, Culture, Security and Public Service (“the Minister”) announced the Budgetary Proposals and Financial Statement for the Financial Y ear 2022/23. Through the Budget, the Minister introduced a Pandemic Contribution Levy on Corporate Profits in certain sectors. Pandemic Contribution Levy – Companies Pandemic Contribution Levy […]
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