08.01.2015 - Wealth fund bill limits investments, withdrawals
The tabling of the Sovereign Wealth Fund Bill 2014 and Petroleum Bill 2014 in December 2014 have brought a sovereign wealth fund (SWF) one step closer to becoming a reality in The Bahamas. The 2014 SWF bill lays the foundation for restrictions on investments and withdrawals from the fund, with measures to minimize opportunities for corruption through insider investment. Under the bill, up to 10 percent of the SWF may be invested in any international debt security of the government, which must be “highly rated by at least two international credit ratings agencies.”..............................................Full Article: Source
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