Local News
Republic Bank (BVI) Empowers Local Entrepreneurs with Successful Small Business Workshop
Republic Bank (BVI) hosted a highly successful Small Business Workshop aimed at empowering local entrepreneurs and fostering economic growth for small businesses.
The event, which was held on August 16 at Treasure Isle, brought together a diverse group of small business and aspiring entrepreneurs eager to gain valuable insights and practical knowledge they can apply.
The workshop featured a lineup of speakers who shared their expertise and experiences in establishing and operating a successful small business. Attendees had the opportunity to learn from these industry experts and gain valuable insights into various aspects of running a small business.
The event also included a networking hour, which proved to be a crucial opportunity for attendees to connect with fellow entrepreneurs, share ideas, and learn from each other’s experiences. This networking aspect of the workshop was highly valued by participants as it provided a platform for collaboration and building relationships within the local business community.
During the delivery of the welcome remarks, Marion Blyden, Managing Director of the bank’s operations in BVI, emphasized the importance of the small business sector in the community. Blyden stated, “At Republic, we firmly believe that the small business sector plays a crucial role in our communities. They are the backbone of the economy, contributing to job creation, innovation, and economic growth.” This sentiment was echoed by Marvin Scott, Retail Banking Manager of the bank, who highlighted the global significance of small businesses in driving economic progress.
Republic Bank (BVI) has consistently demonstrated its commitment to supporting small businesses by offering financial solutions and personalized guidance. Scott emphasized that the bank understands the unique challenges faced by small businesses and aims to be a trusted partner throughout their journey.
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British Virgin Islands Financial Services Commission Welcomes New Leadership
The British Virgin Islands Financial Services Commission (BVIFSC) has announced new appointments to its governing board, with Mr. Gerard St Clair Farara KC stepping in as Chairman and Ms. Patlian Johnson as Commissioner. The appointments, confirmed by the Ministry of Financial Services, Labour, and Trade, mark a new chapter for the commission as it seeks to strengthen the territory’s financial services sector.
Mr. Gerard St Clair Farara KC has been appointed to a three-year term as Chairman, effective August 1, 2024. A seasoned legal expert with a distinguished career, Farara currently serves as a Commercial Court Judge for the Eastern Caribbean Supreme Court and leads the litigation team at the BVI office of COLLAS CRILL, formerly Farara Kerins. Farara’s prominence in the legal community is further highlighted by his appointment as Queen’s Counsel in 1996, cementing his standing as a leading figure in the Virgin Islands Bar and the broader Eastern Caribbean.
Ms. Patlian Johnson will serve a one-year term as Commissioner, also beginning on August 1, 2024. Johnson, a Strategy and Policy Advisor with extensive experience, currently holds the position of National Coordinator for the UNDP Project Office. She brings an impressive academic background, including a Master of Science in Economics and Finance from the University of Bristol and a Bachelor of Science in Economics and Accounting with First Class Honours from the University of the West Indies, Cave Hill Campus.
The pair will replace outgoing Chairman Mr. Robin F. Gaul and Commissioner Mr. Melvin A. Turnbull, whose terms have concluded. Minister of Financial Services, Labour, and Trade, Honourable Lorna G. Smith, OBE (AL), praised the new appointments, stating, “I am delighted to welcome Mr. Farara and Ms. Johnson to the BVIFSC Board of Commissioners. Their combined expertise will be invaluable as we continue to navigate the challenges and opportunities facing the financial services sector.”
Smith also expressed gratitude to the departing board members for their significant contributions to the growth and stability of the territory’s financial services industry. According to the Government Information Service (GIS), these appointments underscore the Virgin Islands’ commitment to maintaining a well-regulated and competitive financial services sector.
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