BVI To Revamp Financial Services Marketing Strategy
by Mike Godfrey, Lowtax.net, Washington
19 September, 2016
The British Virgin Islands financial services industry's interests will be represented by a new agency, with support from the private sector, from January 2017.
BVI Finance Limited is to be launched from January 2017 as part of a public–private initiative. It will take over from the existing agency, BVI Finance, and will be responsible for promoting financial services to customers, intermediaries, and regulators abroad. It will also seek to develop new business opportunities by putting forward potential legislative or regulatory changes and considering new offerings and innovations.
The BVI Government said, as a corporate entity under a fundamentally new structure, BVI Finance Limited will have greater autonomy and flexibility in fulfilling its role as the marketing and promotional arm of the financial services industry.
Lorna Smith of BVI Finance said: "I am delighted to report that preparations for BVI Finance Limited are progressing well and that come January 2017 the new entity will start delivering on its objectives... BVI Finance Limited will play an important role in ensuring the sustainable future of our financial services industry. Moreover, through the establishment of a public/private partnership, BVI Finance Limited will play an even more collaborative and effective role in the way financial services are promoted and marketed."
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