BVI News

Gov’t making moves to transform BVI into hub for financial technology

Minister of Finance Andrew Fahie

Government has said it plans to turn the British Virgin Islands into a hub for Financial Technology which, effectively, is an emerging and innovative category of technology used to create easier ways to utilise and deliver financial services.

An example of this is a piece of technology that allows persons to conduct secure and immediate electronic financial transactions from anywhere in the world without restrictions.

By making the BVI a hub for financial technology, Finance Minister and Premier, Andrew Fahie, said the BVI has an opportunity through this initiative to create a new source of revenue to further boost the local economy.

He said he believes now is the perfect time for the territory to undergo this venture, as several countries globally are participating in what the Premier describes as a digitization movement.

“We wanted major players in the digital industry to champion the opportunities and share the potential for the BVI becoming a hub for Financial Technology as we aim to transform into a digital economy,” Premier Fahie explained in a recently-published media release.

“My government is very keen to develop this area (Financial Technology) and hopes to increase awareness with all stakeholders as they play a role in the thinking, shaping and deciding what the BVI’s focus should be for development,” he further said. 

Symposium to be held

To help achieve this goal, a one-day event entitled ‘the BVI’s Digital Economy symposium’ will be held in the territory on Tuesday, December 3.

The event will comprise presenters in the digital arena with combined expertise of over 100 years in the field who will help foster discussions with various stakeholders from all aspects of the private and public sector.

Some of the presenters include Chief Executive Officer of SkyRoMa Consultants Rosita Scatliffe, Partner at PricewaterhouseCoopers Zia Paton, Technology Strategist and Innovator Murthy Valluri and Shankar Rachakonda who has a vast experience in information technology, engineering and software development.

The symposium will be held at Maria’s by the Sea hotel in Road Town from 9am to 4 pm.

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8 Comments

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  1. nah man says:

    Not with this type of internet service that we are getting

    Like 31
  2. ? says:

    SkyRoMa not much of an internet presence!

  3. My take says:

    I love the positive drive of the Premier and his government team.

    Like 2
    Dislike 9
  4. Paperless says:

    All over the rest of the world, they are going paperless … U are at a computer screen 24/7

    Like 2
    Dislike 1
  5. Really says:

    A Technology Hub? You people use your fingers to make change is sales transactions. Without a calculator all businesses would shut down. There is no one in the Territory with enough education and brain matter to create anything that uses technology. I suggest you create a ditch digging, farming and fishing hub. That’s the amount of capability of the Territory’s Belongers.

    Like 6
    Dislike 7

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