Beautiful Virgin Islands

Thursday, Dec 04, 2025

'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
India backs down on plan to mandate government “Sanchar Saathi” app on all smartphones
King Charles Welcomes German President Steinmeier to UK in First State Visit by Berlin in 27 Years
UK Plans Major Cutback to Jury Trials as Crown Court Backlog Nears 80,000
UK Government to Significantly Limit Jury Trials in England and Wales
U.S. and U.K. Seal Drug-Pricing Deal: Britain Agrees to Pay More, U.S. Lifts Tariffs
UK Postpones Decision Yet Again on China’s Proposed Mega-Embassy in London
Head of UK Budget Watchdog Resigns After Premature Leak of Reeves’ Budget Report
Car-sharing giant Zipcar to exit UK market by end of 2025
Reports of Widespread Drone Deployment Raise Privacy and Security Questions in the UK
UK Signals Security Concerns Over China While Pursuing Stronger Trade Links
Google warns of AI “irrationality” just as Gemini 3 launch rattles markets
Top Consultancies Freeze Starting Salaries as AI Threatens ‘Pyramid’ Model
Macron Says Washington Pressuring EU to Delay Enforcement of Digital-Regulation Probes Against Meta, TikTok and X
UK’s DragonFire Laser Downs High-Speed Drones as £316m Deal Speeds Naval Deployment
UK Chancellor Rejects Claims She Misled Public on Fiscal Outlook Ahead of Budget
Starmer Defends Autumn Budget as Finance Chief Faces Accusations of Misleading Public Finances
EU Firms Struggle with 3,000-Hour Paperwork Load — While Automakers Fear De Facto 2030 Petrol Car Ban
White House launches ‘Hall of Shame’ site to publicly condemn media outlets for alleged bias
UK Budget’s New EV Mileage Tax Undercuts Case for Plug-In Hybrids
UK Government Launches National Inquiry into ‘Grooming Gangs’ After US Warning and Rising Public Outcry
Taylor Swift Extends U.K. Chart Reign as ‘The Fate of Ophelia’ Hits Six Weeks at No. 1
250 Still Missing in the Massive Fire, 94 Killed. One Day After the Disaster: Survivor Rescued on the 16th Floor
Trump: National Guard Soldier Who Was Shot in Washington Has Died; Second Soldier Fighting for His Life
UK Chancellor Reeves Defends Tax Rises as Essential to Reduce Child Poverty and Stabilise Public Finances
No Evidence Found for Claim That UK Schools Are Shifting to Teaching American English
European Powers Urge Israel to Halt West Bank Settler Violence Amid Surge in Attacks
"I Would Have Given Her a Kidney": She Lent Bezos’s Ex-Wife $1,000 — and Received Millions in Return
European States Approve First-ever Military-Grade Surveillance Network via ESA
UK to Slash Key Pension Tax Perk, Targeting High Earners Under New Budget
UK Government Announces £150 Annual Cut to Household Energy Bills Through Levy Reforms
UK Court Hears Challenge to Ban on Palestine Action as Critics Decry Heavy-Handed Measures
Investors Rush Into UK Gilts and Sterling After Budget Eases Fiscal Concerns
UK to Raise Online Betting Taxes by £1.1 Billion Under New Budget — Firms Warn of Fallout
Lamine Yamal? The ‘Heir to Messi’ Lost to Barcelona — and the Kingdom Is in a Frenzy
Warner Music Group Drops Suit Against Suno, Launches Licensed AI-Music Deal
HP to Cut up to 6,000 Jobs Globally as It Ramps Up AI Integration
MediaWorld Sold iPad Air for €15 — Then Asked Customers to Return Them or Pay More
UK Prime Minister Sir Keir Starmer Promises ‘Full-Time’ Education for All Children as School Attendance Slips
UK Extends Sugar Tax to Sweetened Milkshakes and Lattes in 2028 Health Push
UK Government Backs £49 Billion Plan for Heathrow Third Runway and Expansion
UK Gambling Firms Report £1bn Surge in Annual Profits as Pressure Mounts for Higher Betting Taxes
UK Shares Advance Ahead of Budget as Financials and Consumer Staples Lead Gains
Domino’s UK CEO Andrew Rennie Steps Down Amid Strategic Reset
UK Economy Stalls as Reeves Faces First Budget Test
UK Economy’s Weak Start Adds Pressure on Prime Minister Starmer
UK Government Acknowledges Billionaire Exodus Amid Tax Rise Concerns
UK Budget 2025: Markets Brace as Chancellor Faces Fiscal Tightrope
UK Unveils Strategic Plan to Secure Critical Mineral Supply Chains
UK Taskforce Calls for Radical Reset of Nuclear Regulation to Cut Costs and Accelerate Build
UK Government Launches Consultation on Major Overhaul of Settlement Rules
×