Greetings to everyone here in the Virgin Islands and tuning in around the world. It is a pleasure to open Financial Services Week 2022.  This is the time we take to acknowledge the importance of our financial services industry, not just to the BVI and its economy, but also to recognise the outstanding role that the industry and its stakeholders continue to play locally, regionally, and internationally.

The British Virgin Islands prepares to celebrate this year’s Financial Services Week under the theme, Globalisation: BVI Beyond from November 12 to 19.

Madam Speaker, I crave your indulgence and ask that I be allowed at this time to update this Honourable House on matters pertaining to the financial services sector, specifically with regard to Russian sanctions. 

Madam Speaker, I wish to now give an update on preparations for the various assessments that the Virgin Islands is presently involved in. Whilst these assessments are at varying stages and are reviewing diverse areas in the tax and regulatory sphere, they all have one thing in common. A successful conclusion and outcome of each assessment is paramount to sustaining a viable financial services industry for the Territory.

Madam Speaker, I would like to give this Honourable House a brief update on the direct contribution from the financial services sector in 2022 in monetary terms, for the first quarter of 2022.

The British Virgin Islands (BVI) remains committed to complying and upholding international sanctions showcased in this week’s edition of the BVI360° series.

The British Virgin Islands (BVI) financial services industry was lauded as the most successful in the Caribbean by Economic Commission for Latin America and the Caribbean (ECLAC) consultant, Dr. June Soomer.

BVI Finance launches a fact-based content series to showcase the full picture of the BVI’s Financial Services industry called, BVI360.

Good afternoon ladies and gentleman of the press corps and persons listening via social media and radio.

My Administration remains committed to engagement with the press and the public, so I am very pleased to have this press conference today.

The Virgin Islands is taking all requisite steps to ensure that it adheres to its international obligations as an Overseas Territory of the United Kingdom.