Bermuda Monetary Authority

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Bermuda Monetary Authority
Headquarters Hamilton, Bermuda
Established 1969 (1969)
Chairman Alan Cossar
Central bank of Bermuda
Currency Bermudian dollar
ISO 4217 Code BMD

The Bermuda Monetary Authority is the financial regulatory agency for Bermuda.

It is responsible for the licensing of companies proposing to carry on the business of deposit taking (banks and deposit companies), insurance, trusts, investment funds, money service, and investment business in Bermuda; the issue and redemption of Bermuda notes and coins, regulation and supervision of Bermuda's financial institutions; providing advice and recommendation to the Bermuda Government (as required) on issues affecting insurance, banking and other financial and monetary matters; and vets and conducts due diligence on individuals and entities proposing to set up corporate entities in Bermuda (and in relation to further issuances and transfers of Bermuda company securities); it also assists in combatting anti money laundering and anti-terrorist finance activities of entities in Bermuda.

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