Press Release

BVI Finance
Release Date:
Wednesday, 10 February 2016 - 5:00pm

The Financial Services Implementation Unit (FSIU) is ensuring that the BVI Forward campaign designed to further strengthen the financial services sector, has support on both sides of the House of Assembly.

The FSIU team this week delivered a presentation on BVI Forward to Opposition Leader and Third District Representative, Honourable Julian Fraser, RA, Representative for the First District, Honourable Andrew Fahie and Speaker of the House, Mrs. Ingrid Moses- Scatliffe.

FSIU Director, Mr. Kedrick Malone led the discussion in which he outlined the role and functions of the unit, the change process and the ongoing interaction with stakeholders in the quest to implement the initiatives comprising the BVI Forward campaign.

Mr. Malone sought and received ready agreement from the elected representatives to lend their voices in supporting the BVI Forward campaign.

The elected representatives commended the FSIU for a comprehensive presentation and expressed their desire to see the campaign succeed in moving the financial services industry forward.

Both opposition members encouraged the FSIU team to ensure that there is emphasis on helping the BVI population understand financial services and the various professions needed in the industry, including those which will become necessary in the future with value-added services being considered.

The elected representatives also underscored the importance of the BVI Forward campaign transcending political boundaries as the financial services industry is important to the Territory regardless of which political party is in power. 

Since the BVI Forward campaign was launched in September 2015, the FSIU has delivered presentations to several groups of stakeholders to ensure that there is full buy-in for the programme of initiatives designed to secure the future of the BVI as a leading financial services jurisdiction.

The initiatives included in the BVI Forward campaign are as follows: Establish a dedicated Delivery Unit to coordinate and drive implementation; Revamp the International Finance Centre; Strengthen the Business Development Function; Engage the Population; Build BVIslander Capability; Pursue Tax Initiatives; Enhance Customer Service at the Financial Services Commission; Attract and Offer Value-Added Services; Reform Immigration and Labour and Invest in Infrastructure.