NASSAU, Bahamas — The Ministry of Finance yesterday outright denied news reports that The Bahamas had been “blacklisted” by the Organization Economic Cooperation and Development (OECD), the Nassau Guardian reported October 17.
UK news outlet The Guardian published a story claiming that the OECD had blacklisted 21 countries whose citizenship by investment and residence by investment (CBI/RBI) schemes potentially pose a high-risk to the integrity of the OECD’s Common Reporting Standard (CRS).
The actual report never mentioned a “blacklist” and didn’t outline any violation of standards by The Bahamas or sanctions by the OECD.
The OECD said it analyzed over 100 CBI/RBI schemes and found that The Bahamas Permanent Residency Program was among those at a “high-risk”.
The ministry shot back in a statement that it “strongly refutes news reports circulating in the press that claim The Bahamas has been ‘blacklisted’”.
“This report is false and misleading,” the ministry said. “This report is not a blacklist…” See BAHAMAS CHRONICLE at https://thenassauguardian.com/2018/10/17/finance-shoots-down-blacklisting-reports
