Business
BVI gov’t launches Vision 2036
By Department of Information and Public Relations
(GIS) — Premier and Minister of Finance, Dr. the Honourable Natalio Wheatley has said that the people of the Virgin Islands are at the heart of the National Sustainable Development Plan that is to be launched this week.
The Premier said the plan that will be launched by the Government of the Virgin Islands on Monday, 27th February, reinforces a balanced, people-centred Territory that engenders strong governmental institutions, underpinned by sustainable economic, environmental, and social development.
“I am appreciative that at this juncture in our history as a people, we are actively engaging in an agenda for a more inclusive society, that will not only serve our generation, but generations to come,” the Premier said.
He added, “Sustainable development in our economy, our environment, and in our social framework, is a catalyst for devising the future we want to create.”
The plan which will be launched under the theme, “Vision 2036: Building a Sustainable Virgin Islands” proposes six overarching goals that act as guiding principles for the National Sustainable Development Plan. They seek to safeguard and promote the following: Health and Wellness; Education and Learning; Economy; Infrastructure; Good Governance; and the Environment.
The document was formulated after extensive consultation with the public, including the Virgin Islands diaspora, and local and international stakeholders across sectors and subsectors. After more than 70 of these consultations, the insight, recommendations and viewpoints were strategically utilised to influence the conceptualisation and execution of the plan.
“The people of the Virgin Islands can claim ownership of this plan. It was essentially written by the people who will be the ones to bring it into reality, for it was crafted around their vision for themselves and the Virgin Islands,” Premier Wheatley said.
The Premier also expressed his gratitude to Economic Commission of Latin America and the Caribbean (ECLAC) and their Head Consultant Dr. June Soomer for their support and technical assistance in the development of the National Development Sustainable Plan. Her team was instrumental in ensuring that the interests of the private sector, the financial services, farmers, fisher folk, and members of civil society, tourism sector, and sports personnel were adequately represented.
The Government of the Virgin Islands remains resolute in the promotion of the overall development of the Territory through its robust sustainable development agenda.
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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