Premier Wheatley heaps praises on his Deputy Hon Lorna G. Smith OBE
![Deputy Premier and Minister for Financial Services, Labour & Trade, Hon Lorna G. Smith (AL) OBE has urged banks operating in the [British] Virgin Islands to be more generous as they consider loans from applicants. Photo: VINO/File](https://www.virginislandsnewsonline.com/cache/images/800x_b_Banks_02.jpg)
Hon Wheatley commended the first-time legislator for the work she has been doing since she took office earlier this year, some six months ago.
The Deputy Premier Hon Smith, who is also the Minister for Financial Services, Labour and Trade, held a series of meetings with the business community on Tortola and Virgin Gorda when she first took office and also moved with haste to bring reforms to the challenges surrounding work permits in the Labour Department.
While speaking in the HoA under Other Business, Premier Wheatley said he was proud of Honourable Smith, who he noted has been doing “all of this work without adequate staff”. He also stated that as the new Minister responsible for Financial Services, her hard work thus far is “paying dividends”.
Outside her hard work in her ministry without staff, Hon Smith spearheaded the Virgin Islands programme to forge stronger ties with oil-rich Guyana, which is a member of CARICOM.
Banks 'must do better'- Hon Smith
She is also hitting the banks, asking them to be more generous as they consider loans from applicants.
While some banking and insurance matters were raised by Opposition Leader Hon Ronnie W. Skelton (AL), Hon Smith warned banks they were not doing enough to “facilitate loans for persons who were most in need”.
The Deputy Premier said she has been holding meetings with the BVI Bankers Association and was hoping to have additional meetings with them after having two meetings recently. She emphasised that “those meetings were not being done “for meeting sake” but to seek solutions.
While noting that all the major banking decisions are not being made locally, Hon Smith told the public: “I feel that we have gotten to a point where, if we want decisions taken, we are going to have the decision-makers from the banks come to the VI.”
Hon Smith agreed with many of the concerns raised by Hon Skelton, including that “banks were repossessing homes and businesses, giving advantageous arrangements to others in the process”.
The Deputy Premier noted that she will stay engaged on behalf of the people with “the Bankers Association”.
It is our understanding that she will also be having meetings with insurance companies.
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27 Responses to “Premier Wheatley heaps praises on his Deputy Hon Lorna G. Smith OBE ”
financial services industry by mandating public registry of companies. Dem comin forward hard wid it. Ah hear Benito & de waste ah time Premier done agree to do so behind closed doors without telling Lorna or the other members. Ayo keep all eyes on this lame Premier. He has stop fighting for weh future. Ah gon back to sipping meh tea.
Some don’t even get patients on a regular but flossing, flaunting, frivolously spending.
That’s right - NHI.
Ask for print out of Scotia print out before the change over. They will tell you, you may not get it because of length of time. Dont mind them they can pull the history even if you have to pay for it.
Then ask for the history of republic from the change over date until now. Pay attention to payment date cycle the auto split. The principle amount and the Interest. Principle is what you borrow from the bank and the interest is what they make on what you borrow.
The system if you had a rate of 3.99 % Scotia period at the end of their term. when republic took over it went back to the initial rate when you first started way back if at the time you had 7% the system rob you. All your money gone to interest nothing to your principle for months and you are paying on time and before time. If you doubt me go and do as I tell you and you would realize the bank robbing you. They can't give you a response when you enquire for months and years of robbery with the bank system. FSC need to investigate the programs and the system been used to calculate mortgage although they are daily interest loans the system is ripping you off.
I hope this information can help someone for the banks will not tell you their problems you have to find out for your self what's happening to your hard earned money you got to go sweating for on a daily basis and being a slave to the bank because you need to survive. STAY AWAKE IF YOU CANT GET ANSWERS SEEK LEGAL COUNSEL UNLESS WE STAND UP TO THESE INJUSTICES THE BANKS SYSTEMS AND PROGRAMS WILL CONTINUE TO MILK USIN THE VIRGIN ISLANDS. what is so disheartening is the people who are in need have it so hard to get even a small loan.
Hon. Smith these are some of the issues we are facing with these banks.