The Virgin Islands is a global leader in financial services partly because of continuous international scrutiny, Premier Natalio “Sowande” Wheatley said last week during a business awards ceremony.
Speaking at the BVI Finance event, the premier said the territory has weathered the Commission of Inquiry demands and other reforms in recent years and emerged stronger.
“Our industry’s revenue growth speaks to the resilience of the Virgin Islands, the creativity of our practitioners, and the integrity with which you carry out your responsibilities at home and across our global network,” he said during the Dec. 3 ceremony at Prime Restaurant.
“The success of the VI travels far beyond our shores because of your professionalism and dedication.”
Mr. Wheatley added that the winners at the event have proved what the VI can achieve.
“The Virgin Islands is not simply keeping pace — we are leading,” he said.
“With vision, discipline and collaboration, we continue to push the boundaries and shape the future of global financial services.”
BVI Finance said the event honoured “unparalleled expertise, innovations and commitment to the standards that distinguish the BVI on the world stage.”
‘Grey list’
Financial Services and Economic Development Junior Minister Lorna Smith referenced the Financial Action Task Force’s June decision to put the VI on its “grey list” of jurisdictions that require extra scrutiny.
Even that move, she insisted, is helping make the territory more agile.
“This has been a year of challenges, but as a country, as an industry, we continue to rise to those challenges,” she said. “It has made us richer. We have a lot to celebrate.”
George Weston, chair of the board of directors at BVI Finance, echoed the premier’s statement, saying he was proud of the collective work done by the professionals who make up the VI’s financial services industry.
“I feel cheered to see the great things that we achieve as a jurisdiction every single week: the hard work that’s done selling this jurisdiction by so many people,” he said.
The winners
The awards recognised winners across 16 categories, determined by a balanced 50/50 voting system that combined public input with a panel of industry judges, organisers said.
Among the winners, BDO was named accounting firm of the year; auditor of the year was Deloitte; Republic Bank took the title of bank of the year; Ogier won best law firm and top innovator; and the best corporate social responsibility title went to TMF.
The Financial Services Awards ceremony marked the last public appearance of Karia Christopher, the government’s director of communications, who co-hosted the event. Government announced Friday that Ms. Christopher had died unexpectedly during the night.