The Bahamas had very permissive banking regulations and became a major centre of Eurocurency along with the Cayman Islands. The Bahamas had no interest rate ceilings and requirements other than to have a prudent reserve and was referred to as the ‘Switzerland of the West.’
The stamp depicts the Central Bank of the Bahamas (the reserve bank of The Bahamas based in the capital Nassau. The bank was established on 1 June 1974 but traces its origins to the currency board established in 1919. It’s purpose was to carry out the independent monetary policy and financial sector supervisory functions entrusted upon The Bahamas after political independence from Great Britain in 1973.
Details
- Designer: John Waddington of Kirkstall Ltd, Leeds, England
- Printer: Format International Security Printers Ltd
- Process: Lithography
- Paper:
- Watermark: Crown CA (Diagonal)
- Perf: 14.5 (comb)
- Cylinders: Printed in four panes separated by gutter between the four panes, and guillotined into two horizontal panes.
- 1A (Cyan) 1A (Yellow) 1A (Magenta) 1A (Black) 1A (Violet) : 1B (Cyan) 1B (Yellow) 1B (Magenta) 1B (Black) 1B (Violet) [upper left : upper right]
- 1C (Cyan) 1C (Yellow) 1C (Magenta) 1C (Black) 1C (Violet) : 1D (Cyan) 1D (Yellow) 1D (Magenta) 1D (Black) 1D (Violet) [lower left : lower right]
- Sheet: R10 x 5 in two panes separated by a gutter (100 stamps)
- Quantity:
Cylinder Numbers
References
- Central Bank Bahamas
- International Financial Conditions (1979)
- Wikipedia: Central Bank of the Bahamas
