Since Independence 1973 why do we not have guidelines to govern this activity.....?..
Ridiculous that a hundred million dollar plus company does not have rules in itself as to whom are contracts awarded.
If any company be it Bahamian, French, American or any other there must be guidelines, rules and regulations on how to do business.
The Board of Directors should be questioned and held responsible othereise what is the point of having a Board who may be earning some renumeration for their position and responsibility for the company?

Large multinational companies have business plans decades ahead using many variables to track where profits lie for their shareholders. Research and development are key. Govts need to do the same.
The dream of linking GB and Abaco may also be realized with jioning the cays with a bridge in that area. And access to the Chinese built Harbour in Coopers Town which is the closest to European ports.

Proudloudandfnm, how do you know that?

If the majority of people go yo church and the people voted no to gambling shouldnt the church by now have done something about web shops gambling. This is a factual doable seeable accomplishment by those Pastors already 6 months later who have faith in Our Almighty Lord and Saviour.

Very very simple TalRussell

Basic mathematical model

Applicant proof of income, defined as salary at least confirmed job, tips usually a percent 50% of verifiable and management letter tips bearing in mind that during vacation thete is no tip, 50% rental income also verify expenses/maintenance, no pension allowed, no child dupport or alimony jnless certified almost guarrenteed, consider dividends for support.

Epeenses all yearly bills insurancres divided by 12, monthly bills, maintenance of families, clothing, donations, nib, car, etc loans, cards etc
Project expenses to now include new home expenses plus repayments..
verify applicant is telling truth.
simple times the expenses by 12 months and this should equal salary. NOW, in many cases this will show a big savings as applicants lower the values to qualify. verify, what applicants do not spend they must save.
simpledo a balance sheet of assets znd liablilies and assets will show up and less liabilities showes surplus. Examine to verify.
If cannot find what should have been saved and did not tturn into assets then there must be extraordinary expense like medocal or assisting in family deayh expenses. At this point of examination the applicant confesses in default with usual outside child support, gambling, asue.
knowing this, the still currently used TDSR total dest service ratio of 45%of income amount (stillusedratio from over 20 yeats ago when numbers were different) plus the interest rate put into mathematical repayment formula to show repayment of principal and interest....amortized over any number of years to fit within 45% total loans repayment ratio.max loan period to ginish on or before retirement. This is wrong too as 45% is npt the same for high income earnets because normal expenses can be repaid if you make $16,600 permonth like 200k pa 45% is used for mortgage indemnity insurance to repay difference in equity requirement from sale.provided bank maintains terms of contract.
Variables a company can use is interest rate,
and length of years of course being more. Any other repayment possibility to fit means that there was a defect in the calculation of the first.
Variable used is likely lower interest to guarrantee a repayment for investor above that which can be gained on the market.
Investigations are needed into included, omitted
,deceptive/lies, analysis that did not give a mprtgagor a chance to succeed which is fraud and due care and attention or plain negligent by the bank who should know this mathematical analysis.
Credit bureau is what banks do themselves and give bankers references everyday. Govt passing the buck.

Lets be realistic, if another company can find a solution then why couldnt the Bank.

Banks should be forced to clean up the mess caused by giving marginsl loans and using indemnity insurances which they know will result in massive job losses caused by extreme Hurricanes.

Coupled with predatory lending to reach huge loan targets and applications slanted in their favour for easy qualificstion and now today readjusted seems especially difficult to qualify is proof.

Lack of protection by govt is also to blame and an Financial Conduct Authority as creatted in England 2013/4 independly staffed must be immediately established to protect customers and monitor banks activities including audits.

Having a Central Bank with goovt appointed Governor and Boatd of Directors who seem incapable or regulating Banks and moreso its own Govt majority Bank of the Bahamas with its too govt appointed Board of Directots.

The interests of the nations financial sector must be put above the interests of the govt to appiont its own connected Boards.

Serious investigation is needed to look into the causes and effects of the entire mortgage debacle instead of getting rid of the evidence by selling off, already common sense is that if one rebuyer can find one single solution so can the bank. Lets open up the investigations and when fraud is found dont fire the officers....jail them
Then again this may reveal too much to the public why public investigations do not happen as is now coming out of the BPL audit and invrstigation.

About 3 weeks ago,Tribune article 13th Oct, 21 year old Wilshire Rahming of McKinney Drive who had pleaded guilty to stealing items valued $3.15 a 1 lb bag of rice and 1 can of tuna( I believe it would be the small can of tuna if you took away the average price of rice)sentenced to 1 year and 2 months.
This stuck out as I recalled article and jail time of 1 year and 2 months not 3 years as I mentioned for stealing 1 bag of rice and 1 can of tuna valued $3.15 compared to white Collar crime.
Racist...To an outsider non Bahamian we may seem racist as we have high yella, bright, bright bright, conkey Joe, dark males, light complexion smoothe skin, mango skin, light skin, black crab syndrome,paper Bahamian, n word, black, white, peasy head, good hair, etcetc to describe others just depends on the situation. Bahamians understand foreigners dont try using it. Bahamians use these terms and others everyday I cannot ever recall a crime situation with a pore white man whichin if you tell a tru tru Bahamian many will just crack right up at the reference.
With this situation it is unfair but it is the law for one tiefing 1 bag of rice and 1 can of tuna valued $3.15 and get sentenced versus the current situation. Too often articlles are about the small pore black (or white man) getting jail time and very few white collar offenders caught and charged with large amounts of money crimes. They well, got fired......OMG....Not fair!

audits cost tens of thousands of dollars..and the taxpayer with empty cupboards pays and urgent money needs everywhere.......

the pore black man gets 3 years in jail for tiefing tuna and rice.....and the white collar criminal or charged persons not even named.......???

name all of them so that the fellas in fox hill can see how they look in lingerie...,,,!!!!

Actually a significant amount of new car sales happens to be by the govt in buying 30k plus cars for executives and other essential part of the job usage.

The private sector also buys 30k cars for executives and many look at the executive salary package to include a new car plus servicing, gas every so often or change of executive.

Looking at the difference in price for a decent second hand vs brand new the govt should look at second hand also.

noone knew what was going on in a multi million dollar company providing a high security service like electricity to the bahamas despite staffed by select govt appointed officials on boards and despite internal audit controls is nonsense......... and that fraud was being committed .......only exposed by a change in govt and outside auditors.....?........ is beyond belief and bank official in private sector.....Where are the names of all persons involved.?????
who did the internal auditors report to.......we are a global financial centre with exceptionally skilled accountants, auditors, bankers ....
bank of the bahamas next..!,,