This call came from Premier and Minister of Finance Honourable Andrew A Fahie (D1) during the Second Sitting of the Fourth Session of the Fourth House of Assembly today March 10, 2022.

Premier Fahie was at the time making his contribution to the Stamp (Amendment) Act 2022, which will see the exemption of Stamp Duty on the instrument of sale or transfer to a first-time property owner who is a Belonger.

"I am calling on the banks that once this is passed, Mr Speaker, that all our financial institutions move swiftly to allow first time homeowners and landowners who are Belongers to be able to get 100% financing. We have to continue to be innovative to help our people because Mr Speaker when you buy piece of property in the Virgin Islands, it means it signals, 1. We have confidence in your country, 2. You are saying you do not intend to leave and 3. You are saying we are in this together for the long run."

National bank oft the Virgin Islands was also praised for supporting the first Stamp Duty Waiver initiative for Belongers by offering 100% loans.

Premier and Minister of Finance Honourable Andrew A Fahie (D1) during the Second Sitting of the Fourth Session of the Fourth House of Assembly today March 10, 2022, appealed to banks operating in the territory to grant first time homeowners or property owners who are Belongers 100% financing.

NBVI & Republic Bank commended

Meantime, National Bank of the Virgin Islands and Republic Bank came in for high praise for offering 100% financing to Belongers during the Stamp Duty Waiver period that ran between March 2020 and December 2021.

"I also want to commend those financial institutions such as the National Bank of the Virgin Islands, who led the way, along with the Republic Bank who are two I know for sure had programmes that complimented this initiative that, Mr Speaker, they allowed for one hundred percent financing of the persons with their first-time homeownership and other areas.”

The Stamp (Amendment) Act 2022 was subsequently passed in the HoA.