Bahamas is the leading offshore financial center in the world

There are over 400 financial institutions licensed to do banking and financial trust representation in The Bahamas making it only second to London in the number of financial institutions it hosts. Among them are some of the largest and most successful in the world. I.e. Barclays, Citibank. The country is the leading offshore financial center in the world as there are almost 600 mutual funds managed or administered in The Bahamas and these control some $200 billion in assets. A stock exchange has also been established. The Commonwealth of The Bahamas has come to be the Switzerland of the Western World.