BMA sets out road map for 2025
The Bermuda Monetary Authority has released its business plan for 2025, outlining its commitments to enhancing the island’s regulatory framework in the coming year.
The organisation said the plan emphasises the continued goal of ensuring that the BMA operates as an effective and efficient organisation.
It said highlights of its 2025 road map include:
• Advancing green initiatives regarding investment funds
• Evaluating its regulatory frameworks in relation to climate change
• Supporting responsible digital innovation in financial services
• Continuing to foster a culture of engagement and excellence
• Ensuring the BMA remains a responsible regulatory citizen among the global fraternity of regulators – collaborating and actively contributing to the development of international regulatory standards
• Continuing the BMA’s journey towards sustainable business practices regarding its environmental impact and further leveraging technology to become more operationally efficient
• Continuing resolution framework development
The organisation said the plan provides details on how the BMA will leverage technology, supervisory processes and enhancements to support Bermuda’s financial services ecosystem.
Additional initiatives include a strong focus on innovation and customer protection to maintain Bermuda’s position as a leading international financial centre.
In the document’s foreword, BMA chief executive Craig Swan said: “In our regulatory initiatives, customer protection will remain at the forefront in 2025.
“In alignment with the Authority’s mission, our objectives for 2025 will cover both progressing multiyear work that has already started and the addition of new initiatives, all intended to position the Authority to withstand the headwinds and take advantage of the opportunities on the horizon.”
• For more on the BMA Business Plan 2025 see Related Media
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