The Premier of the British Virgin Islands, Hon. Dr. Natalio D. Wheatley, has moved to reassure the public and international stakeholders of the Territory’s financial stability following the planned wind-down of Bank of Asia (BVI) Limited. In an official statement released Friday, Dr. Wheatley emphasized the government’s commitment to transparency, strong regulatory oversight, and the continued integrity of the Virgin Islands’ globally recognized financial services sector.

“As Premier, my priority is the stability and wellbeing of our Islands,” Wheatley said. “We are proud of the global confidence placed in our financial services sector, and I want to reaffirm that this Government remains focused on protecting that reputation.”

Wheatley praised the leadership of the Financial Services Commission (FSC) and the Virgin Islands Deposit Insurance Corporation (VIDIC), two key institutions responsible for regulating and protecting the Territory’s banking sector. He described both as operating with “professional expertise and international best practices” and expressed confidence in their ability to manage the wind-down process with diligence and in full compliance with the BVI’s regulatory framework.

The Premier also addressed public concerns over the placement of government funds with Bank of Asia, clarifying that such decisions are made within the Ministry of Finance by designated public officers, without any involvement from government ministers.

“Deposits such as these are strategies to diversify the Government’s financial portfolio,” he explained. “This is a practice that is commonplace and fiscally responsible across jurisdictions worldwide.”

To promote public trust and ensure transparency, Dr. Wheatley announced he has requested an internal audit of the specific transaction involving the Bank of Asia deposit. “I hope this will offer clear insight, foster confidence, and bring greater understanding to all,” he said.

The statement comes as the Virgin Islands continues to navigate its position as a global financial center, facing evolving international scrutiny and regulatory expectations. The Premier encouraged residents to rely on official sources—including the Government’s website and verified social media channels—for accurate updates on financial and governance matters.

“As Premier, I remain fully committed to protecting the public interest and to maintaining the strength and stability of our financial system,” he said. “This Government is moving forward with confidence, purpose, and unity. Together, we move ahead—with clarity, with strength, and with optimism.”

The Royal Virgin Islands Police Force (RVIPF) confirmed Friday that the body of a man was recovered from the waters near Maria’s by the Sea Hotel in Road Town.

Officers from the RVIPF responded to the scene shortly before noon, where the body was retrieved from the sea. The identity of the individual has not yet been released.

Police remained at the location into the afternoon, continuing their investigation. The circumstances surrounding the discovery remain unclear.

In a brief statement, the RVIPF said, “The body of a male individual was recovered from the sea in the vicinity of Maria’s by the Sea Hotel a short moment ago. Officers are currently on scene. Further details will be provided as they become available.”

This is a developing story. Check back for updates.

Social impact organisation Kickin It has announced the honourees for its second annual Toast Gala, scheduled to take place on Saturday, 2 August, at Long Bay Beach Resort in the British Virgin Islands. The event coincides with the territory’s Emancipation Festival and will highlight cultural preservation, artistic innovation, and creative achievement under the theme “Together We Bloom.”

The Toast Gala will again feature Kickin It Honors, an award segment that recognises creatives whose contributions span multiple disciplines and have had international and regional influence.

The 2025 Kickin It Honors recipients include:

• Issa Rae, Actress, Producer and Writer – Global Influence Award

• Skylar Marshai & Temitope ‘Temi’ Ibisanmi, Content Creators – Creative Catalyst Awards

• Tenille Clarke, Storyteller and Publicist – Cultural Impact Award

• IYAZ, Singer/Songwriter – Trailblazer Award

• Igdaliah Pickering, Fashion Designer – Rising Star Award

• Michael Winter Jr., Photographer – Rising Star Award

The awards ceremony will take place against the backdrop of the British Virgin Islands’ coastline, with honourees, visiting creatives, and regional industry leaders expected to attend. The evening will include a Caribbean-inspired three-course dinner, live entertainment, and the presentation of the 2025 Kickin It Honors.

Kyra James, founder of Kickin It, addressed members of the media during a press conference earlier this week. Reflecting on the initiative’s impact, James said the event serves to uplift creatives whose work “tells stories—our stories.” She added that this year’s ceremony will recognise “double the creatives” compared to its inaugural edition.

Proceeds from the gala will support Kickin It’s ongoing work in cultural preservation and creative development throughout the region.