The Virgin Islands Deposit Insurance Corporation (VIDIC) joined deposit insurers and financial stability experts from around the world at the 2025 International Association of Deposit Insurers (IADI) Annual General Meeting and Annual Conference, held from November 24–28, 2025, in Lisbon, Portugal. Photo: VIDIC

Representing VIDIC was Mrs Suzette Phillips, Head of Resolution, Rules and Policy, who attended alongside regional colleagues from Barbados, Bermuda, the Bahamas, Curaçao and Sint Maarteen. Photo: VIDIC

Representing VIDIC was Mrs Suzette Phillips, Head of Resolution, Rules and Policy, who attended alongside regional colleagues from Barbados, Bermuda, the Bahamas, Curaçao and Sint Maarteen.

Throughout the week, participants engaged in high-level discussions on innovation, risk management, and the future of deposit insurance systems. Sessions explored the growing impact of digitalisation, the migration of financial services to online platforms, and the strategies required to ensure depositors remain protected in a rapidly changing environment. Delegates also examined the rise of emerging deposit stores such as stablecoins, and what these developments may mean for the evolution of global deposit insurance frameworks.

Mrs Phillips noted that the conference came at a critical time for financial authorities: “The conversations around digital transformation and new forms of value storage were especially timely. Understanding how these trends intersect with depositor protection helps ensure VIDIC remains forward-looking as we consider enhancements to our operational and legislative frameworks.”

The conference also provided opportunities for deepened regional collaboration, technical exchanges, and joint reflection on the legislative reforms needed to support robust financial safety nets. According to VIDIC Board Chairman, Mr Ian S. Smith, the organisation’s participation underscores its ongoing commitment to international best practices.

“As the financial landscape evolves, so must the systems designed to protect depositors. Engaging with global partners helps us bring back the insights and tools needed to strengthen confidence in the Virgin Islands’ financial system,” Mr Smith said.

About VIDIC

The Virgin Islands Deposit Insurance Corporation (VIDIC) is responsible for protecting insured deposits and contributing to the stability of the British Virgin Islands’ financial system. VIDIC advances public confidence through effective deposit insurance, risk monitoring, and resolution planning.