Government has been having talks with “several” financial institutions to open a branch on Virgin Gorda, Premier Dr Orlando Smith has claimed.
He made the statement on Friday, August 31 — Scotiabank’s final day on the sister island, which is now without a banking facility.
According to Premier Smith, Banco Popular seems to be the furthest along in preparations to set up shop on Virgin Gorda, and is expected to make an announcement on the matter ‘very soon’.
“I expect Banco Popular to make an application to the Financial Services Commission for the establishment of a branch,” he said.
“We want to ensure both residents and business owners know that my government is working diligently on a solution to the current situation.”
Scotia’s closure raised great concern among the sister island community whose residents now have to ferry to Tortola to fulfil their banking needs.
That bank’s closure comes a few short months after CIBC First Caribbean also fled the sister island.
Copyright 2021 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.