Friday, November 11, 2016

BVI FSC Being Confident in BVI licensed Financial Institutions

British Virgin Islands Financial Services Commission issued press release in the end of October in which expressed confidence in the banking sector of the jurisdiction. As the sole financial regulator responsible for supervision of all financial institutions licensed in BVI, the FSC are confident in its regulatory procedures and processes, and are actively working with financial institutions to assist in achieving satisfactory compliance.

In the published press release, the Commission stated that it is unable to give comments on the financial condition of any individual financial institution in the jurisdiction but can confirm that BVI licensed banks are well capitalised and have adequate level of liquidity. The Commission announced that they do not expect any failure in the BVI banking sector.

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