FSC launches Money Matters BVI website
The website, www.moneymattersbvi.com, is a product of the Financial Services Commission (FSC) and was seen as part of the FSC’s mandate to sensitize the public on the issues of financial services and general finance.
The wide range of topics include insurance, starting a business or company and the advantages of incorporating, relationships and money, buying and selling land in the Virgin Islands, saving, approaching the bank, managing debt, investing and retirement planning.
According to Managing Director of FSC Robert Mathavious, the website presents financial issues that are relevant to the average person. He also said the FSC has not chosen to focus on the work of the Commission but intends to as the FSC also needs to be “de-mystified”.
“And so there is going to be lots of work with all the members of staff in making sure that we are able to dispel the mysticism among financial services and make it presented in a way that it becomes much more accessible and usable for the average person.”
Mr. Mathavious also said it was his hope that the website becomes one of the most popular websites in the Virgin Islands and noted that the website also serves to dispel the misconception about the priorities of the FSC. “We have a statutory mandate to sensitize the BVI public on the issues of financial services and finance in general. People often feel that the Financial Services Commission is only concerned with international finance...This gives a chance to see how important, how relevant what we are doing to the BVI community. That would be de-mystified so that they could be more informed.”
He said the website was a work in progress as it would be regularly updated and more information added.
Elise Donovan, Coordinator of the recent Financial Literacy Survey report conducted by the Financial Services Commission (FSC), said Money Matters BVI is for everyone of all income, nationalities, age and gender and it offers free independent advice. “We collected as much information as we could. We did a scouting around the globe to see what financial education information would be provided around the globe then we looked into that information and tried to look specifically at what is relevant to the BVI population.”
Donovan also said that research for the website started in March and was completed in March and that most of the work was done “in house” which cut costs significantly.
The Commission, through its literacy programme, endeavours to provide the best and most appropriate education to the Territory’s financial consumers.
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