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Talks fruitful for return of Banking to VG – Premier

…following a meeting with officials from Banco Popular de Puerto Rico
Yesterday, March 13, 2019, a team led by Premier and Minister of Finance, Hon Andrew A. Fahie (R1) which included Junior Minister of Tourism Hon Shereen D. Flax Charles (AL) and Hon. Vincent O. Wheatley (R9) met with officials from Banco Popular de Puerto Rico to discuss the progress being made in having the bank operating a branch on Virgin Gorda. Photo: GIS
Banco Popular de Puerto Rico is working to establish a presence on Virgin Gourda. Photo: Internet Source
Banco Popular de Puerto Rico is working to establish a presence on Virgin Gourda. Photo: Internet Source
Road Town, Tortola, VI – Banking service is expected to make a full return to the sister island of Virgin Gorda (VG), after several months without a banking presence on the island following the exit of Scotiabank in September of 2018.

In early August 2018, Virgin Islands News Online (VINO) reported that the Scotiabank branch on Virgin Gorda (VG) was closing its door by the end of that month.

The bank officially closed on September 1, 2018, with last Premier Dr D. Orlando Smith—in explaining the reason for the closure—saying that a revision of the bank’s mode of operation had been introduced regionally with greater emphasis on digital banking.

They advised the Government that it would result in enhanced customer interaction for BVI customers, however, that left the people of Virgin Gorda with absolutely no local banking services and the National Democratic Party (NDP 1) regime doing nothing about it.

Announcement Soon 

Yesterday, March 13, 2019, a team led by Premier and Minister of Finance, Hon Andrew A. Fahie (R1) which included Junior Minister of Tourism Hon Shereen D. Flax Charles (AL) and Hon. Vincent O. Wheatley (R9) met with officials from Banco Popular de Puerto Rico to discuss the progress being made in having the bank operating a branch on Virgin Gorda.

The Premier was quoted in saying the meeting was fruitful, and according to a release, an official announcement will be made in the not too distant future as to when exactly banking will commence on VG.

Following the exit of Scotiabank from VG, National Bank had indicated an interest to establish a presence and FirstBank was—for a short while—on Anegada but they have since closed their doors.

VIP on the Move

The latest fete from the Premier Fahie led Virgin Islands Party (VIP) administration comes following a trend where the new government is moving full speed ahead with addressing key issues that were left stagnant by the previous Dr. Smith led NDP regime.

5 Responses to “Talks fruitful for return of Banking to VG – Premier ”

  • £££££ (14/03/2019, 10:40) Like (43) Dislike (2) Reply

    Do the people a righteous favour please. Set the record straight and keep it simple. There is a NDP Party, a VIP Party, a PVIM Party Independents and others maybe. In my considered opinion its time to cut the NDP1, NDP2 political nonsense out.

  • sah (14/03/2019, 11:21) Like (6) Dislike (0) Reply
    its about time
  • Truly I Say (14/03/2019, 12:15) Like (5) Dislike (0) Reply

    Banking needs to happen fast on the outer islands. and I hope Banco is making swift progress to fill that void.

  • IJS (14/03/2019, 12:38) Like (15) Dislike (0) Reply
    Scotia Bank is closing a number of Banks across the Caribbean, don’t know if this has/had an effect on the BVI.
    @vino i totally agree with you it’s about time this nonsense about VIP, NDP, PVIM, PU, Indepent needs to be over with election is over. It even more disgusting seeing the Facebook posts, the BVI adults seem to have such childish mentality it’s is worrying. Let’s come as one
    The BVI Family’s only Option is Forward Ever.
  • facts (15/03/2019, 00:01) Like (0) Dislike (3) Reply
    Thanks to the VIP they looking out for vg


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