Business
Health minister, staff discuss grant system review
By Ministry of Health & Social Development
(PRESS RELEASE) — Minister for Health and Social Development, Honourable Marlon A. Penn met with the staff of the Social Development Department to discuss the department’s future in light of the social assistance and grant system review.
Honourable Penn commended the staff for its work over the past six years highlighting that the hurricanes in 2017 and the ongoing COVID-19 pandemic have displaced many residents and have created difficulty in transitioning to normalcy.
The Minister further emphasised that the Commission of Inquiry has impacted how assistance is given to residents to offset the consequences of certain social issues.
Honourable Penn said, “The burden is now placed on the Social Development Department to process all these levels of assistance without additional staff or resources. So, I understand the struggle that you face when people are frustrated and they sometimes take the frustration out on you. But I just want to let you know that you have my support.”
Honourable Penn addressed staffing issues stating that he has met with the Permanent Secretary and discussed support for the staff to be better able to offer the increase in service to the public because of the shift, in terms of reform, the Ministry is undertaking for social systems in the Territory.
Honourable Penn said, “We have just completed the initial report in terms of how we reform the social systems, the social network and we are also about to take that to Cabinet with those recommendations. Those reforms have implications and will impact how you do your work and it is important for you to be a part of this process so there are no surprises and that you are equipped to offer those services to the public when they come calling.”
The Minister for Health expressed his gratitude in meeting the people behind the services offered by the Social Development Department. He encouraged the staff to continue providing excellent service and reiterated his commitment to support the team as they continue to provide quality service to the population.
The Ministry of Health and Social Development remains committed to working with both internal and external stakeholders to continue providing social assistance services of the highest quality to residents of the Virgin Islands.
Business
BVI Financial Investigation Agency and Jersey Financial Services Commission Sign Agreement to Strengthen Cooperation in Tackling Financial Crimes
The Financial Investigation Agency (FIA) of the British Virgin Islands (BVI) has recently strengthened ties with the Jersey Financial Services Commission (JFSC) through a Memorandum of Understanding (MoU) signed on 25 October. The agreement formalises a cooperative framework for consultation and information-sharing between the two regulatory bodies, enhancing their oversight in financial regulation.
The MoU signals a shared commitment by the BVI and Jersey to uphold rigorous financial standards and combat financial crimes. By sharing essential intelligence, the FIA and JFSC aim to bolster efforts to detect, prevent, and investigate crimes such as money laundering, terrorist financing, and proliferation financing.
Errol George, Director of the FIA BVI, expressed the importance of the partnership, stating, “The signing of this MoU establishes a framework for information exchange between the FIA BVI and JFSC, supporting compliance with the laws, regulations, and rules relating to the functions of our Authorities. I am indeed pleased with the progress we are making in the Territory to tackle financial crime.”
Through this agreement, both agencies will, upon request, provide critical information that strengthens regulatory practices across the Designated Non-Financial Businesses and Professions (DNFBP) sector. Shared data will include details on corporate structures, management standards, and organisational quality, all essential for effective supervision.
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Business
Virgin Islands Secures $100 Million Loan to Drive Infrastructure and Community Development
Business
FirstBank Customers Accounts Show Zero or Negative Balances Electronically
– Persons Accessing Cash In Bank
This morning account holders at 1FirstBank awoke to discover that their online account balances had disappeared. A widespread issue, affecting both personal and business accounts, has left customers unable to access their funds, with many reporting negative or zero balances on the bank’s digital platform.
The issue was discovered early Tuesday morning when users attempting to log in to their accounts were met with unsettling balances, with some even seeing their accounts marked as overdrawn despite no recent transactions. Several customers described seeing a balance of zero on their account’s home screen despite previously having substantial savings.
“I thought it was just me, but when I called a friend who banks with FirstBank, they had the same problem,” said the account holder. “It’s incredibly stressful, especially since there’s been no word from the bank yet.”
The problem, which seems to have affected customers across the territory, has prompted many to visit local branches in person. Several individuals reported being able to access their accounts once they arrived at the bank. However, the disruption has rendered ATM services and card transactions nonfunctional, leaving customers unable to withdraw cash or make payments.
JTV News reached out to 1FirstBank, where a representative confirmed that the electronic banking system is currently down and the matter is being addressed at the international level. Customers were advised that, for the time being, they would need to visit a branch to resolve any issues, as card swipes and ATM withdrawals were temporarily disabled.
While FirstBank has yet to release an official statement on the cause of the outage, customers are growing increasingly concerned about the safety of their funds. The nature of the problem—whether it is a technical glitch or something more serious like a security breach—remains unclear.
At this stage, it is unknown when the issue will be resolved or if all accounts will be restored to their proper balances.
The financial uncertainty has left both personal and business account holders on edge, with some businesses reporting disruptions in their daily operations due to the inability to access company funds.
JTV News will continue to monitor the situation closely and provide updates as more information becomes available.
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