The unit of currency is the Bahamian dollar (B$) which is fixed to the US dollar at the rate of B$1.00 = US$1.00
Exchange control falls under the regulation of the Central Bank of The Bahamas.
The financial services sector is regarded as the second most important industry in the Bahamian economy. Services include private and commercial banking, portfolio management, captive insurance, asset protection, foreign exchange transactions, administration and establishment of trusts, company formation, mutual funds, and securities transactions.
There are currently over 250 banks and trust companies licensed by the Central Bank of The Bahamas that offer a wide range of financial services.