at https : / / www. afiglobal. org / sites / default / files / publications / 2018 - 08 / maya _ fs _ 18 _ aw _ digital. pdf see press release : the central bank of the bahamas joins the alliance for financial inclusion & commits to the maya declaration, https : / / www. centralbankbahamas. com / news. php? id = 16452 & cmd = view the sochi accord : fintech for financial inclusion ( https : / / www. afiglobal. org / publications / 2851 / sochi - accord - fintech - for - financial - inclusion ) 9 | page box 3 : central bank of the bahamas commitments under the maya declaration under the maya declaration of the alliance for financial inclusion the central bank has committed to : i ) support the development of a national financial inclusion strategy by 2020. ii ) increase access to banking and payment services by reinforcing our newly revised customer due diligence ( cdd ) requirements. iii ) introduce a digital version of the bahamian currency by 2020, to ensure minimum levels of access to banking and payments services in geographically remote parts of the bahamas. iv ) collaborate with the government on improved national identity infrastructure to enhance the know your customer ( kyc ) procedures in our supervised financial institutions ( sfis ). v ) conclude the development and start - up of a credit bureau in the bahamas by 2020 to foster trust and accountability between our sfis and their customers. vi ) in partnership with relevant stakeholders, pursue the creation of the office of the financial services ombudsman ( ofso ) by 2020. vii ) promote public awareness of consumer rights and responsibilities through our recently deployed financial literacy program, get money smart bahamas. 10 | p a g e

small country interfaces with the world ’ s financial rule - makers john rolle governor, central bank of the bahamas 30 october 2018 special address to the 13th asba - bcbs - fsi high - level meeting on global and regional supervisory priorities introduction the central bank of the bahamas is pleased and honoured to be able to co - host this gathering of eminent persons from latin america, the caribbean, the basel committee on banking supervision ( bcbs ), the financial stability institute ( fsi ), and the bank for international settlements ( bis ). my topic tonight is : “ how small nations interact with the international financial rule - making architecture ”. the core elements in this architecture include : - - multilateral agencies, among which the imf is probably the most impactful for small countries, and the bis the most impactful for the world ’ s central banks ; rule - making bodies, among which the basel committee is probably the most prominent, but including the international association of insurance supervisors ( iais ), the international organisation of securities commissions ( iosco ), and similar groups, with the financial stability board ( fsb ) assuming prominence in recent years ; the ever - growing architecture on financial crime suppression, centred on the financial action task force ( fatf ) ; and a range of public, quasi - public, and private groups that create, impose, and / or enforce standards in international finance, among which leading examples include the ratings agencies, swift1, isda2, lch3 and many others. the small country experience in general what has been the experience of small countries in dealing with these groups? in a few words : generally positive, but mixed. from a small country perspective, the ideal engagement with an international rules - making body would feature four key elements : - - the body explicitly considers small countries when making and enforcing rules ; the body provides, directly or through its membership, reasonable assistance to help small countries adopt and maintain the relevant rule set ; the body ’ s governance arrangements allow for small country representation, and for staff from small countries to engage on working groups, task forces, secretariats, and the like ; and when conducting compliance assessments and similar engagements, the body ’ s evaluation process gives small countries a fair chance to demonstrate compliance, in the context of each country ’ s economy and society. society for worldwide interbank financial telecommunications. international swaps and derivatives association. lch is a london and european based clearing house for trades in financial instruments. my experience, both