The British Virgin Islands will soon have an additional bank and more employment opportunities for persons in the financial sector.
Premier Dr D Orlando Smith made the announcement to members of the press today, June 21, while giving an update on his recent two-week trip to the Asian continent.
“The highlight of the mission was, of course, the opening of the Bank of Asia (BVI) at an event where over 500 business leaders and government officials were in attendance,” he said.
According to Premier Smith, following the launch, they were given a tour of the bank’s premises. He said some of the 70 staff members at the bank were from the BVI.
Meanwhile, the bank will be moving into a physical space in the territory.
“The bank will have an office here in the BVI and all of those staff members would be from the region or the BVI.”
However, the Premier added: “If there is the need, it might be necessary for some period of time to employ somebody else with some expertise but it will depend on the level of expertise that is required.”
The Bank of Asia
The Bank of Asia (BVI) Limited was established as a digital bank for corporates and individuals where clients can do banking transactions online without the need to visit a physical branch.
The bank was set up in the territory to “address the growing needs of offshore companies, their owners and other multinational conglomerates,” the institution’s website said.
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