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Premier Wheatley Affirms Confidence in BVI Financial System Amid Bank Wind-Down
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.”
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Vetting Process Officially Begins for RVIPF Officers, Governor Says
Governor Daniel Pruce announced Thursday that the vetting process for officers within the Royal Virgin Islands Police Force has officially begun following the completion of data-sharing agreements between government agencies and the vetting unit.
Speaking during a May 7 press conference at Government House, Mr. Pruce said the agreements were a critical step in advancing reforms aimed at strengthening integrity and accountability within the police force.
“The data-sharing agreements between the relevant local government agencies and the vetting unit have now been finalized,” Mr. Pruce said. “With those documents in place, the vetting process is now underway.”
Mr. Pruce described the start of the process as a significant milestone for law enforcement reform in the Virgin Islands. He said the vetting initiative is intended to strengthen public confidence in the police force, protect national security and ensure the integrity of officers serving within the organization.
“As we’ve discussed previously in these briefings, vetting is a vital measure,” he said. “It’s an essential measure to ensure the integrity of the RVIPF, to strengthen public confidence while also preserving the safety of officers and ensuring national security.”
The governor has previously identified the development of a fully vetted and professionally resourced police force as one of his main security priorities since taking office in January 2024.
During the press conference, Mr. Pruce also said the United Kingdom continues to provide support to the territory’s security agencies, including funding positions within the police force and deploying experienced prison officers to assist at HM Prison Balsam Ghut.
The vetting process forms part of broader law enforcement reforms introduced following recommendations from the Commission of Inquiry and ongoing security assessments within the territory.
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Man Treated for Gunshot Wound as Police Investigate Vanterpool Estate Shooting
A man who sustained a gunshot wound presented himself to the Dr. D. Orlando Smith Hospital on Sunday, April 26, and was treated and later discharged, authorities said.
The Royal Virgin Islands Police Force said the injury is linked to a shooting reported after 7 p.m. in the Vanterpool Estate area.
Officers responded to reports of gunfire and processed the scene, where evidence was recovered. No injured persons were initially found at the location, police said.
The man later sought medical attention on his own with what appeared to be a gunshot wound.
Police said the investigation remains active and ongoing.
Authorities are appealing to anyone with information to contact the RVIPF Intelligence Unit at 368-9339 or Crime Stoppers anonymously at 800-8477.
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British Virgin Islands Named Best Luxury Destination in the Caribbean by Modern Luxury

Photo credit: Moskito Island.
The British Virgin Islands has been named Best Luxury Destination in the Caribbean in Modern Luxury’s 2026 Travel Awards, according to an announcement on April 24 by the British Virgin Islands Tourist Board & Film Commission and its Director of Tourism, Clive McCoy.
The recognition, presented by Modern Luxury, a United States-based luxury lifestyle media company, follows the territory’s designation as the publication’s Hottest Destination of the Year in 2025. Winners of the 2026 awards are scheduled to appear in the May 2026 print issue.
“We are proud to once again be recognized by Modern Luxury, this time as the Best Luxury Destination in the Caribbean,” Mr. McCoy said. “These awards speak to the consistency of our product and the authentic, high-quality experiences that define the BVI.”
The annual awards highlight destinations, properties and experiences in global travel, with a focus on high-end tourism. Officials said the latest recognition reflects the British Virgin Islands’ continued appeal to travelers seeking sailing, villa accommodations and resort experiences.
In 2025, the territory also received recognition when Oil Nut Bay’s Quintessa Villa was named Best Private Villa in the Caribbean by the same publication.
Tourism officials said the award adds to a series of recent acknowledgments from international outlets, including U.S. News & World Report, Caribbean Journal and USA Today’s Readers’ Choice Awards, which have ranked the destination and its tourism partners in various categories.
The British Virgin Islands, an archipelago of about 60 islands and cays in the northeastern Caribbean, has long marketed itself as a leading sailing destination and continues to promote its tourism offerings to international visitors.
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