In the wake of public speculation and media reports surrounding the closure of Bank of Asia (BVI) Limited,  Minister for Financial Services, Labour & Trade, Hon. Lorna Smith, OBE, has issued a public statement firmly rejecting allegations of impropriety and affirming her distance from operational or regulatory decisions concerning the bank.

“I had no such authority, gave no such instruction,” Smith declared, addressing claims that she directed government funds into the bank prior to its collapse. “I categorically deny the claim.”

Smith, a former non-executive director and Deputy Chair of the bank’s board, clarified that she served in a governance role from around 2019 until her resignation in April 2023, months before entering public office. She stated that her role was limited to strategic oversight and compliance, and that she was never involved in the bank’s daily operations.

The minister also rejected reports suggesting she received a $15,000 monthly salary, calling the claim inaccurate. “All directors were approved to receive quarterly compensation,” she stated. “That figure is simply incorrect.”

Responding to accusations of regulatory interference, Smith underscored the statutory independence of both the Financial Services Commission (FSC) and the Virgin Islands Deposit Insurance Corporation (VIDIC), the two agencies responsible for oversight of the financial sector and the bank’s resolution. “I have never issued instructions to either regulator concerning the Bank of Asia or any other regulated entity,” she said. She also pointed out that VIDIC falls under the portfolio of the Premier and Minister of Finance, not her ministry.

Addressing reports of internal conflict, Smith said she had met VIDIC’s CEO, Lisa Violet, only twice—once during a courtesy call in late 2024, and once during a virtual group meeting. “I categorically refute any suggestion of tension, conflict, or obstruction,” she stated.

On broader allegations of personal enrichment, Smith issued a firm denial. “Any claim that I have used public office for personal gain, or to benefit friends, family, or associates, is defamatory and wholly unsubstantiated,” she said.

In closing, Smith urged for higher standards in media reporting and emphasized the importance of protecting the reputation of the Virgin Islands’ financial services sector. “The publication of false, exaggerated, or speculative claims undermines our jurisdiction,” she said. “I will not be deterred by baseless attacks or misinformation.”

She added that if defamatory reporting continues without correction, she reserves all legal rights and remedies available to her.

CIBC Caribbean has made a $2,500 contribution to the British Virgin Islands Diabetes Association (BVIDA) as part of its ongoing efforts to support health awareness and community wellness across the region.

The donation was officially presented at the bank’s Road Town branch during its Staff Appreciation Week in May. Vernecia Holder, Head of International Corporate Banking at CIBC Caribbean, handed over the cheque to Roselia James-Dawson, Resource Manager and Certified Diabetes Educator at BVIDA.

The presentation followed a staff-focused educational session on diabetes prevention and management led by Nurse Magdelina Jean-Louis, DSc. H. Ed. The session underscored key issues such as early detection, lifestyle modifications, and disease control—topics that are especially relevant in the Caribbean, where rates of non-communicable diseases continue to rise.

“At CIBC Caribbean, we recognize the vital role of education and community support in addressing chronic diseases such as diabetes,” said Holder. “We are honored to contribute to the BVI Diabetes Association’s efforts to empower individuals with knowledge and resources to manage their health effectively.”

In accepting the donation, James-Dawson said the funds would aid in expanding the Association’s outreach and education efforts.

“This donation will significantly enhance our outreach and education programs, allowing us to better serve those affected by diabetes in the British Virgin Islands,” she stated. “We are deeply grateful for CIBC Caribbean’s partnership in this important cause.”

CIBC Caribbean has pledged to continue supporting local organisations and initiatives that focus on community development, health, and wellness.

Enquiries about BVIDA’s programs can be directed to bvidiabetes@gmail.com.

The United States has announced a new travel ban affecting 12 countries, including Haiti, citing national security concerns. This decision has raised significant apprehension throughout the Caribbean region, where familial, economic, and cultural ties to the U.S. are deeply rooted.

On June 4, President Donald Trump signed a proclamation enforcing a travel ban on citizens from 12 countries, among them Haiti. The directive, effective June 9, 2025, restricts entry for nationals of these countries, impacting both immigrant and non-immigrant visa applicants. While the ban does not revoke existing visas, it further intensifies the administration’s broader immigration policies during Trump’s second term.

The ban has elicited strong reactions from various quarters. Miami community leaders have condemned the measure, labeling it xenophobic and harmful to South Florida’s diverse immigrant populations. Local officials, including Miami-Dade County Commissioner Marleine Bastien, herself Haitian-born, warned that the ban would separate families and create chaos in communities.

Critics argue that the policy is discriminatory and reminiscent of earlier travel bans targeting Muslim-majority nations. Legal experts suggest that while the revised order may be difficult to challenge in courts due to its carefully crafted justifications, targeted lawsuits are anticipated. The administration maintains that the list of affected countries is subject to change based on improvements in their security compliance.

The Caribbean community is particularly concerned about the implications of this ban. Many families have members residing in both the U.S. and Caribbean nations, and the restrictions could disrupt familial connections, economic activities, and cultural exchanges. As the policy takes effect, Caribbean nations are closely monitoring the situation and exploring diplomatic avenues to address the concerns arising from this development.

For more information on the travel ban and its implications, individuals are advised to consult the U.S. Department of State’s official website or contact the nearest U.S. embassy or consulate.