Irrespective of their immigration or work permit status these persons can open and maintain $ deposit accounts with balances of up to $ without approval from the Central Bank. As part of the Get Money Smart financial literacy program, and working with commercial banks we are formulating a new public education campaign focused on these changes.
The literacy campaign  7  The guidelines (see: https://www.centralbankbahamas.com/legal_policies.php?cmd=view&id=16883 ), which apply to entities supervised by the Central Bank: banks, credit unions, MTBs and payment services providers. These have been issued under provision in the amended Financial Transactions Reporting Act 2018.