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BVI FSC Confident in the Health of the Banking Sector in the BVI - Press Release No. 3 of 2016

Press Release No. 3 of 2016

28 October, 2016

PRESS RELEASE

British Virgin Islands Financial Services Commission Confident in the

Health of the Banking Sector in the BVI

Tortola, British Virgin Islands – 28 October, 2016 – As the BVI's sole financial regulator the FSC is committed to the effective supervision of all BVI licensed financial institutions. We are confident in our regulatory procedures and processes. When we identify matters of concern we routinely engage the financial institution to satisfactorily resolve them.  Our ongoing supervision efforts have always included actively working with management teams and shareholders of financial institutions to assist with a pragmatic approach to achieving satisfactory compliance.  While we are unable to comment on the financial condition of any individual financial institution operating in the BVI, the FSC can confirm that BVI licensed banks are well capitalised and operate with adequate levels of liquidity which are good indicators of their strength. We do not foresee any failure in the BVI banking sector, and continue to be actively engaged with all relevant stakeholders.

For further information, please contact:

Corporate Communications

BVI Financial Services Commission

Pasea Estate, Tortola, British Virgin Islands

Tel:     (284) 494-4190

Fax:     (284) 494-5016

Email: corpcomm@bvifsc.vg

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Contact Information

British Virgin Islands Financial Services Commission


Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.
commissioner@bvifsc.vg