LEAK CAUTION

BARBADOS’ INTERNATIONAL BUSINESS SECTOR could be catapulted to the spotlight again following the lead of millions of documents on offshore accounts from a Panamanian law firm.

Reacting to the release this week of files from law firm Mossack Fonseca about secret accounts held by some of the world’s wealthiest, Minister of International Business Donville Inniss said the incident would add fuel to those who were critical of countries offering offshore financial services.

According to news reports 34 companies, 12 clients, five beneficiaries and 34 shareholders associated with Barbados were found in the files.

“A leak of such a large volume of client information will obviously make some countries and agencies get excited and feel they have a renewed energy to pursue all jurisdictions that offer business and financial services as an industry.