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Skelton-Cline hopeful investors would resurrect Bank of Asia (BVI) Ltd

- Said any bank failing in the VI is not good for VI’s reputation as a financial services jurisdiction
On May 29, 2025, the Virgin Islands Deposit Insurance Corporation (VIDIC), with the intervention of the BVI Financial Services Commission (FSC), took the necessary steps to shut down the operations of the Bank of Asia (BVI) Limited. Photo: Facebook
According to Claude O. Skelton-Cline, during his Honestly Speaking show on ZBVI 780 AM on June 24, 2025, any bank failing in the Virgin Islands (VI) is not good for the territory’s reputation as a financial services jurisdiction. Photo: Facebook
According to Claude O. Skelton-Cline, during his Honestly Speaking show on ZBVI 780 AM on June 24, 2025, any bank failing in the Virgin Islands (VI) is not good for the territory’s reputation as a financial services jurisdiction. Photo: Facebook
Founder and Chairman Mr Carson Wen said the Bank of Asia was established in the VI to address the growing needs of international companies, their owners and other multinational conglomerates in the era of digitalisation. Photo: Bank of Asia
Founder and Chairman Mr Carson Wen said the Bank of Asia was established in the VI to address the growing needs of international companies, their owners and other multinational conglomerates in the era of digitalisation. Photo: Bank of Asia
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.

On May 29, 2025, the Virgin Islands Deposit Insurance Corporation (VIDIC), with the intervention of the BVI Financial Services Commission (FSC), took the necessary steps to shut down the operations of the Bank of Asia (BVI) Limited.

The decision was based on established legal and regulatory frameworks to protect depositors and preserve stability in the banking sector in the Territory, according to an FSC statement.

According to Skelton-Cline, during his Honestly Speaking show on ZBVI 780 AM on June 24, 2025, any bank failing in the Virgin Islands (VI) is not good for the territory’s reputation as a financial services jurisdiction.

“I am hoping that through the process that there are investors with the requisite requirements of FSC and the capitalisation that the Bank of Asia can, in fact, continue and serve as an alternative, both in the commercial and retail space, in these Virgin Islands, for the betterment of the people of the Virgin Islands.

“And then whatever else needs to be sorted out, then let the process and the procedures be sorted out,” Skelton-Cline stated.

Purpose of Bank of Asia

In response to the winding down of the operations of the Bank of Asia (BVI) Limited by the VIDIC and the FSC, its founder and chairman, Carson Wen, stated that  “innovations in the Fintech space have also brought significant changes to businesses and individuals”.

Mr Wen said that the Bank of Asia was established in the VI to address the growing needs of international companies, their owners and other multinational conglomerates in the era of digitalisation...... with a strong emphasis on providing the best customer experience possible, our use of advanced technology and big data enables us to open accounts efficiently and effectively for customers from anywhere in the world. Our technology-driven platform also enables customers to enjoy more user-friendly and cost-effective services with your smart devices.”

7 Responses to “Skelton-Cline hopeful investors would resurrect Bank of Asia (BVI) Ltd”

  • BuzzBvi (27/06/2025, 13:13) Like (8) Dislike (0) Reply
    You think that is how we get our money back.

    Talking of which can we have our money back from you.
  • Xxx (27/06/2025, 14:09) Like (0) Dislike (4) Reply
    Stop blaming Lorna
  • resident (27/06/2025, 14:16) Like (3) Dislike (2) Reply
    why throw good money after bad
  • Eldread (27/06/2025, 14:52) Like (5) Dislike (0) Reply
    @claude : that's what your indigenous entitlement premiere did, take up the tax payers $5 million USD and go deposit it to help save bank of Asia, if it had work out he would be there blowing his horn how he is some sort a financial genius, and the fellow never run a candy shop much less a countries finances. Boy don't know what to do when he see money he started to keep plenty dance parties and traveling and giving monies your church and Vybz Kartel get $250,000.00 USD and now bank of Asia get $5 million USD, and he now want give us an audit from his personal directives, which will cost us because the civil servant doing the audit may have to work overtime, plenty of stationary will be used up, look just let the governor do this for the BVI please.
  • FACIAL EXPRESSION (27/06/2025, 15:03) Like (1) Dislike (0) Reply
    City SLICKer ,is saying )> now I mag have spoke too fast , so I have taken a second look at the situation from the HOLY SIDE - and came to a conclusion that there might be some good in this sh*t after all the drama .
  • FACIAL EXPRESSION (27/06/2025, 15:22) Like (2) Dislike (1) Reply
    THE ASIAN IS SAYING )> ME ASIAN , ME HONEST , ME NO STEAL , YOU STEAL FROM YOUR PEOPLE , YOU LOOK IN MIRROR AND YOU SEE WHO , SO NO POINT FINGER AT ME
  • Save it with public funds (27/06/2025, 17:58) Like (0) Dislike (0) Reply
    Sell it , having covered up previous debacle start again only if F&F are back on the board making private salaries, no brainer!


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