Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) (right) has said Junior Minister for Financial Services and Economic Development, Hon Lorna G. Smith, OBE (AL) (left), is one of the most qualified to provide oversight and supervision in the financial services industry among the political class. Photo: Government of the Virgin Islands

Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) has praised Junior Minister for Financial Services and Economic Development, Hon Lorna G. Smith, OBE (AL), for her contributions to nation building. Photo: YouTube/HoA

Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) said some tried to use the closure of the Bank of Asia (BVI) Limited to bury Junior Minister for Financial Services and Economic Development, Hon Lorna G. Smith, OBE (AL), but failed. Photo: Internet Source

“I’m blessed to have a strong team supporting the building of this sustainable nation. One of the persons on the team, Madam Speaker, is Hon Lorna Smith, who is overseeing the Financial Services Ministry and Trade,” Premier Wheatley said during the Continuation of the Twelfth Sitting of the Second Session of the Fifth House of Assembly on December 18, 2025. 

The Premier openly saluted and commended Hon Smith, who he said was well-deserving of the award she received for her service as a pioneer in Virgin Islands (VI) diplomacy. 

Some tried to bury her with Bank of Asia failure

Premier Wheatley said Hon Smith is arguably one of the “most experienced” when it comes to financial services, adding, “It’s the truth, and we must tell the truth”. 

He said some tried to use the situation with the failure of the Bank of Asia to bury Hon Smith but they were wrong. 

“They thought she was finished with this Bank of Asia story, Madam Speaker, and I would say that they used their proxies to go online and blog and try to damage her credibility and her reputation. I’m here to say those persons have failed.”

Premier Wheatley reiterated that the Bank of Asia matter is being dealt with responsibly, and when it is done, it will be a success story for the VI. 

“As we watch the liquidation unfold and see consideration for a buyer and potential rectification of the situation with the creditors, including the Government of the Virgin Islands, we will see that that situation has been handled in a responsbile way and the government made a great decision to have the Virgin Islands Deposit Insurance Corporation set up for a situation such as the Bank of Asia.”

Hon Smith is the best for the job 

Premier Wheatley continued giving Hon Smith her flowers, saying that she is the best person to provide oversight and supervision in this industry among the political class. 

“With Hon Smith’s leadership, we have been able to avoid a situation where we could have had fully public registers imposed on us in 2023.”

He said the two of them travelled to London to negotiate on behalf of the financial services industry of the Virgin Islands. 

“[We were able to] avoid the catastrophic impact that would have resulted with fully open registers, which were not a global standard and would have damaged our industry.”