Hashtag: #Finance
Cabinet Approves 2.4% Increase For Pensions
“The Cabinet approved a further 2.4% increase for seniors’ pensions in line with the inflation rate,” Premier and Minister of Finance David Burt said in the House of Assembly today [July 19], adding that “when the House of Assembly returns in September, this government will table that increase in pensions to keep our commitment... Read more of this article
Premier Burt On Reduced Pension Admin Fees
“Thanks to the collaborative efforts of the Government, Pension Commission, and local pension plan administrators, the people of Bermuda will benefit from not only a reduction in administration fees applied to Private Pensions but also see limits put in place on those fees, so they do not increase in the future,” Premier and Minister of... Read more of this article
Corporate Income Tax Agency Act 2024
On Friday, the Premier and Minister of Finance David Burt tabled a bill in the House of Assembly entitled “Corporate Income Tax Agency Act 2024. A Government spokesperson said, ” The tabling of this bill represents another significant milestone for Bermuda in the development and implementation of an appropriate and effective corporate income... Read more of this article
ICO’s 2021-2022 Financial Statement Tabled
The Audited Financial Statement for the Office of the Information Commissioner for the financial year ended 31 March 2022 were tabled in the House of Assembly today. A spokesperson said, “Information Commissioner Gitanjali Gutierrez is pleased to announce that, for the seventh consecutive year, the ICO has received an unqualified audit. As an... Read more of this article
Column: Myron On US Green Card Status
[Written by Martha Harris Myron] On the eve of another July 4th Independence Day in the United States, it is only fitting to reflect on the more than 400 years of Bermuda’s influential connections with our neighbor across the great Atlantic pond. Indeed! Bermuda islanders rescued Jamestown from cannibalism and extinction 150 years before the US became... Read more of this article
Corporate Income Tax Public Agency Information
The Ministry of Finance issued a public information document regarding the Corporate Income Tax Agency. A Government spokesperson said, “Following the enactment of the Corporate Income Tax Act 2023 in December, 2023, the Government is moving ahead with the establishment of a Corporate Income Tax Agency [the Agency]. “This document sets out... Read more of this article
Protecting Seniors Against Financial Abuse
The Bermuda Bankers Association announced support for World Elder Abuse Awareness Day on June 15, highlighting the need to recognize and prevent financial abuse, especially among older adults. A spokesperson said, “The Bermuda Bankers Association supports World Elder Abuse Awareness Day, which takes place each year on June 15th. This is an opportunity... Read more of this article
Monetary Authority & FSRA Sign MoU
The Bermuda Monetary Authority [BMA] and the Financial Services Regulatory Authority [FSRA] of the Abu Dhabi Global Market [ADGM] announce the signing of a joint Digital Assets Memorandum of Understanding [MoU]. A spokesperson said, “The MoU creates a framework enabling the collaboration between the BMA and the FSRA to support the establishment... Read more of this article
Reduced/Delayed Services Due To Meetings
As part of the pension reform consultative process, the Ministry of Finance will facilitate meetings with the BIU and BPSU memberships and ”there will be reduced or delayed public services” on June 10, 14 and 18th. A Government spokesperson said, “As part of the pension reform consultative process, a series of information and educational... Read more of this article
EDD Invites Public To Fintech Training
The Economic Development Department announced the launch of the 3rd Annual Fintech Training Programme, inviting interested individuals to register by June 5, 2024. A Government spokesperson said, “The Economic Development Department [EDD] is happy to announce the launch of the 3rd Annual Fintech Training Programme. Interested persons are encouraged... Read more of this article
Column: Myron Publishes On Financial Literacy
[Written by Martha Harris Myron] It has been my long-term experience in my former Bermudian/international professional finance practice working with our community that still, there is little correlated, current, easy-to-understand financial information specifically focused on our uniquely sophisticated Bermuda economic environment. Bermuda’s First... Read more of this article
AlphaPoint Partners with Bancolombia Subsidiary
AlphaPoint, a leading provider of digital asset infrastructure of exchanges, brokerages, payment networks, and banking, today announced its partnership with Wenia, a subsidiary of Bancolombia, to launch their innovative exchange offering. A spokesperson said, “The application, built on AlphaPoint’s Exchange platform, provides a seamless... Read more of this article
Column: Myron On Individual Financial Planning
[Opinion column written by Martha Harris Myron] It is tough enough to manage money on a personal basis, let alone wading through the 110-pages multitude of complicated financial information issued by Bermuda Government March 2023 financial report. Yet, the four vital financial planning principles are the same for all: individuals, businesses, institutions,... Read more of this article
Police Execute Warrants & Arrest Three People
The police executed warrants in “relation to an ongoing investigation into persons defrauding a financial institution and one of its clients of a significant sum of money” and three suspects were arrested. A spokesperson said, “The Financial Crime Unit of the Bermuda Police Service carried out a pre-dawn operation on Wednesday, May... Read more of this article
Column: Myron On Authentic Financial Planning
[Opinion column written by Martha Harris Myron] Every successful economic entity: a country, a government, a business, and yes, even an individual includes these tangibles into their very thinking in planning for the future. Necessary and seriously, more in depth than just a bunch of numbers on a bottom-line financial statement, they are: A Contingency... Read more of this article
Premier David Burt Attends AIMA Conference
Premier and Minister of Finance David Burt led a business delegation to attend the AIMA Digital Asset Conference in New York City. A spokesperson said, “The Premier and Minister of Finance, the Hon. David Burt JP, MP, has travelled to New York City to lead a business development mission delegation and attend the Alternate Investment Management... Read more of this article
