News
'Investment in our people is critical'- Hon Lorna G. Smith OBE
NECKER ISLAND, VI- "The BVI has developed into a financial hub that offers tested, responsive regulatory frameworks, access to financial infrastructure, and experienced service providers with the technical depth and sector fluency fintech demands."
Skelton-Cline hopeful investors would resurrect Bank of Asia (BVI) Ltd
BAUGHERS BAY, Tortola, VI- “The country at the end of the day cannot allow for the failure of any banks….That’s just the nature and the sensitivity surrounding the jurisdiction, the major of our two pillars, so we simply can’t afford that,” Commentator and clergyman Claude O. Skelton-Cline said, as he expressed hope that the Bank of Asia (BVI) Limited can actually be saved.
2 years normal timeline for FATF grey list removal- Hon Lorna G. Smith
ROAD TOWN, Tortola, VI- Junior Minister for Financial Services, Trade and Economic Development, Hon Lorna G. Smith (AL), has said the targeted two-year timeline to be removed from the Financial Action Task Force’s (FATF) grey list is normal.
Be ‘open & transparent’ about FATF grey listing- Hon Marlon A. Penn
BAUGHERS BAY, Tortola, VI- Opposition Member Hon Marlon A. Penn (R8) has called on the government to be more transparent about the grey listing of the Virgin Islands (BVI) by the Financial Action Task Force (FATF).
VI strengthens counter-terrorist financing measures with updated risk assessment
ROAD TOWN, Tortola, VI- The Government of the Virgin Islands on Friday, April 25, 2025, published its Terrorist Financing Risk Assessment 2025, reflecting the Territory’s continued efforts to safeguard the integrity of its financial system, and its commitment to evolving international standards in counter-terrorist financing.
UPDATE: Hon Smith will be Minister of State for Financial Services & Economic Dev’t- Premier
ROAD TOWN, Tortola, VI- As first and accurately reported by our News Centre today, March 11, 2025, Opposition Member and Territorial At Large Representative Hon Lorna G. Smith, OBE has returned to the government of Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7).
Skelton-Cline warns of ‘undeclared war’ on VI'S financial services sector
BAUGHER'S BAY, Tortola, VI— Commentator Claude O. Skelton-Cline has issued a stark warning over what he perceives as the mounting global pressures on the Virgin Islands’ financial services sector, describing the situation as an "undeclared war" that could severely impact the Territory’s economy.
‘Take the diversification of our economy more seriously’- Hon Walwyn
ROAD TOWN, Tortola, VI- Opposition Member Hon Myron V. Walwyn (R6) has challenged the government of the day to lead the charge in diversifying the economy of the Virgin Islands (VI) as a safeguard against any potential losses from the financial services industry.
'If Financial Services go down, we all go down'- Premier Wheatley
HONG KONG, China- Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) and his delegation are currently on a 5-day trip to Asia, where the business of the financial services industry was one of the main focuses.
Premier Wheatley denies receiving explosive UK MPs letter
ROAD TOWN, Tortola, VI— Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) has confirmed that his administration has yet to receive an official copy of a letter purportedly sent by United Kingdom (UK) Members of Parliament (MPs) concerning the Territory's Open Register of Beneficial Ownership of Companies.
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