Beautiful Virgin Islands

Tuesday, Jun 03, 2025

Hold banks accountable just like politicians

Hold banks accountable just like politicians

In the same way people vote against politicians who displease them, Premier Andrew Fahie said residents should take similar action against local banks that refuse to create favourable programmes to assist people who are affected by the COVID-19 pandemic.
“When you are angry at something a politician does, you come after the politician. But when persons are concerned about the way the banks are behaving, they don’t approach the banks or other industries. But the voice of the people is just as powerful with the banks and other financial entities as it is with the government,” Premier Fahie said on a recent edition of the Umoja radio show.

Fahie, who is the Minister of Finance, continued: “If persons realise the power they have with the banks; if they all decide ‘we are pulling out our money and we’re not doing business’, unity is the key to any success. It’s not threatening anyone but everyone has to come to the table in this COVID-19 — government, banks, entrepreneurs. Nobody should be coming to make a profit out of this,” Premier Fahie explained.

He added that his government continues to lobby local banks to change their credit systems to make it possible for small business owners to access loans.

“We’re also going to have more meetings with our banks – how do we move towards making sure we have small loans for businesses to help our people. All persons – including banks – must change their policies in this COVID era. So telling us that persons are delinquent, it would be impossible for most people not to be,” Premier Fahie argued.

In September 2020, Premier Fahie lashed the territory’s banking sector, saying some need to do a better job at creating “stimulus” programmes to assist residents during these hard times.

He said since COVID-19 started affecting the BVI, he has written to the banks twice to ask if they can adjust some systems to ease the financial burden on residents.

According to the Premier, some banks have agreed while others haven’t given a positive response on the matter.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×