Beautiful Virgin Islands

Saturday, Mar 14, 2026

'Money transfer services will reopen after economy mushrooms'

'Money transfer services will reopen after economy mushrooms'

Premier and Minister for Finance Andrew Fahie said local money transfer services will be allowed to reopen as soon as the British Virgin Islands economy mushrooms once more. Premier Fahie said his administration made the decision to keep money transfer

Premier Fahie said his administration made the decision to keep money transfer services such as Western Union closed because the local economy has fallen into a fragile state since COVID-19.

He gave that rationale amid strong backlash from certain factions of the public.

“We made our decision on a sound, economic stand and the sound economic stand is that we are going to do a soft opening and allow certain businesses to reopen, to reassess every couple days or every week, and then make some more decisions for more businesses to reopen which we have done and we will continue to do,” Fahie said in a recent JTV broadcast.


Nothing against Caribbean expats

He further said the first phase of the internal reopening is strictly for businesses that contribute to making the ‘national flow continue’ after being shut down for weeks.

“It is nothing against people from Caribbean countries. That’s ludicrous. Those who are using that now we’re on the other side of the coin of the argument when we were regularizing persons from the Caribbean who were here for 20, 25, 30, 35 years. Western Union will open, MoneyGram and their money services will open, but we have to make sure that we kick start the economy again by making sure that there is an internal flow of rebooting our economy because it is a new normal,” Fahie stated.


Keeping agencies closed also a ‘safety decision’

The Premier further stated that keeping those services closed was also a matter of safety.

“We have a lot of social measures that we are putting in place. We cannot put that in place if everywhere open one time. Then we would have open the same way we closed down and create a situation where the spread of the virus would have been even more significant to happen,” he said.

No set date has been given for the reopening these money transfer institutions.

Some members of the public have accused the Premier of being a xenophobe since his administration’s decision to halt these services comes just weeks after introducing legislation that taxes persons who send money outside of the territory. The majority of these persons are expatriates.

Premier Fahie has, however, said he forgives any person who spoke out against his government in light of this decision. He also said he believes in free speech.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Weak Growth Signals UK Economy Was Faltering Even Before Middle East Energy Shock
Marks & Spencer Tops UK Fashion Retail Rankings as Most Considered Brand
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Royal Navy to Acquire Twenty Uncrewed Surface Vessels for Autonomous Warfare Testing
Russia Summons British and French Envoys After Ukrainian Storm Shadow Strike on Strategic Facility
Starmer Confirms Britain Will Maintain Sanctions on Russia Despite U.S. Policy Shift
UK Moves to Refine AI Definition in Investment Security Reform
UK Economy Stalls in January as Growth Unexpectedly Falls to Zero
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Tesla Secures Approval to Supply Electricity Directly to Homes Across Britain
Prince William Delivers Tribute to Australia’s Naval Alliance Amid Renewed Royal Spotlight on the Country
UK Foreign Secretary Travels to Saudi Arabia to Reinforce Support for Regional Allies
Putin’s ‘Hidden Hand’ May Be Assisting Iran in Conflict With Trump, UK Defence Secretary Warns
UK Sets April Deadline for Tech Platforms to Strengthen Online Protections for Children
Elon Musk Moves Into Britain’s Energy Market as Tesla Wins Licence to Supply Power
UK Watchdog Warns Fuel Retailers Against Profiteering Amid Iran War Price Surge
Report Claims Iran Used UK Charity Network to Expand Influence
United States and United Kingdom Establish Joint Standards for Counter-Drone Technology
Iran May Be Laying Naval Mines in Strait of Hormuz, UK Warns Amid Escalating Gulf Tensions
US Deploys Bunker-Buster Bombs to UK Airbase as Iran Conflict Intensifies
British Troops in Iraq Intercept Iranian Drones Targeting Coalition Base
Release of Mandelson Files Raises Tensions as UK Seeks Stable Relations With Donald Trump
UK Documents Reveal Starmer Was Warned About Mandelson’s Epstein Links Before Ambassador Appointment
Nearly Five Hundred UK Mortgage Deals Withdrawn in Two Days as Market Volatility Forces Lenders to Reprice
Three Cargo Ships Hit Near Iran as Attacks Spread to Strategic Strait of Hormuz
Why British Police Repeatedly Declined to Investigate Jeffrey Epstein’s UK Links
UK Parliament Ends Hereditary Seats in House of Lords, Closing Chapter on Centuries of Aristocratic Lawmaking
EU and UK Urge Israel to Act Against Rising West Bank Settler Violence Amid Regional Tensions
US Senator John Kennedy Says Keir Starmer Should Not Be Trusted for Military Advice Amid Iran War Debate
UK High Court Rejects Attempt to Revive Terrorism Charge Against Kneecap Rapper
Revolut Secures Full UK Banking Licence After Multi-Year Regulatory Wait
Kentucky’s Bench Boost Powers Wildcats Past LSU in SEC Tournament Opener
British Couple Die After Being Pulled From Water at Australian Beach During Family Visit
British Airways Suspends UK Repatriation Flights as Middle East Travel Disruption Deepens
US Forces Prepare Ordnance at RAF Fairford as Strategic Bombers Deploy for Middle East Operations
Nigel Farage Faces Criticism After Saying Britain Should Stay Out of Iran War
Landmark UK Trial Begins Over Sony’s PlayStation Store Pricing
UK High Court Rejects Bid to Challenge Britain’s Chagos Islands Agreement With Mauritius
Finnish Duo Triumphs in England’s Annual Wife-Carrying Race, Winning a Barrel of Ale
How U.S. and UK National Security Strategies Are Reshaping the Global Business Landscape
Green Party Gains Momentum as Labour Shifts Toward the Political Centre
Royal Navy Destroyer HMS Dragon Sets Sail for Eastern Mediterranean as Regional Tensions Rise
UK Homebuilder Persimmon Warns Iran Conflict Could Dent Property Buyer Confidence
Roman Abramovich Signals Legal Fight if UK Seeks to Seize Chelsea Sale Funds
UK Ready to Back Emergency Oil Reserve Release as Middle East Conflict Pushes Prices Higher
Study of 40,000 Articles Sparks Debate Over Alleged Anti-Muslim Bias in UK Media
×