The Government of the Virgin Islands has taken further steps to strengthen the Territory’s financial services legacy with the addition of “Offshore Financial Services: A BVI Text” to its growing library of financial services resource materials.
The BVI Financial Services Commission formally presented the text to President of the H. Lavity Stoutt Community College, Dr. Karl Dawson, during a hand-over ceremony on Thursday, October 9. The text which was jointly commissioned by the BVI Financial Services Commission and HLSCC was authored by Financial Services Consultant Mr. Paul Byles.
It is expected that the book, with its emphasis on the local environment, will further educate Virgin Islanders, particularly at the tertiary level, on the value and importance of the financial services industry to the Virgin Islands and the global economy in which the Territory operates.
Speaking at the ceremony, Premier and Minister of Finance, Dr. the Honourable D. Orlando Smith, OBE said, “We must continue to create avenues for our people to continuously learn about the financial services, and this text is indeed aligned with our Action Plan to strengthen our financial services legacy through education.”
He added, “With today’s handover, it means that the Territory is well on its way to equipping our students with the resources, knowledge and expertise needed to navigate the road of financial services and build human capacity in our local and international financial services industry.”
The Premier also expressed his pleasure with the efforts of the HLSCC to create a tertiary level Virgin Islands-centric programme at the Financial Services Institute.
“As an offshore financial centre, we have played a significant role in today’s global economy, and it is expected that an increased awareness of the nature and regulation of off-shore financial services will highlight the positive contributions of our jurisdictions,” Premier Smith said.
He noted that over the past three decades, the Territory, in particular, has become a progressive, professional financial centre offering a broad range of services and products underpinned by some of the toughest regulation in the world.
Additional speakers at the ceremony included Managing Director of the BVI Financial Services Commission, Dr. Robert Mathavious, Permanent Secretary of the Ministry of Education and Culture, Dr. Marcia Potter and President Dr. Karl Dawson.