London Daily

Focus on the big picture.
Saturday, Feb 22, 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

0:00
0:00
Close
Good News: Senate Confirms Kash Patel as FBI Director
Officials from the U.S. and Hungary Engage in Talks on Economic Collaboration and Sanctions Strategy
James Bond Franchise Transitions to Amazon MGM Studios
Technology Giants Ramp Up Lobbying Initiatives Against Strict EU Regulations
Alibaba Exceeds Quarterly Projections Fueled by Growth in Cloud and AI
Tequila Sector Faces Surplus Crisis as Agave Prices Dive Sharply
Residents of Flintshire Mobile Home Park Grapple with Maintenance Issues and Uncertain Future
Ronan Keating Criticizes Irish Justice System Following Fatal Crash Involving His Brother
Gordon Ramsay's Lucky Cat Restaurant Faces Unprecedented Theft
Israeli Family Mourns Loss of Peace Advocate Oded Lifschitz as Body Returned from Gaza
Former UK Defense Chief Calls for Enhanced European Support for Ukraine
Pope Francis Admitted to Hospital in Rome Amid Rising Succession Speculation
Senate Republican Leader Mitch McConnell, at the age of 83, Declares His Retirement.
Whistleblower Reveals Whitehall’s Focus on Kabul Animal Airlift Amid Crisis
Politicians Who Deliberately Lie Could Face Removal from Office in Wales
Scottish Labour Faces Challenges Ahead of 2026 Holyrood Elections
Leftwing Activists Less Likely to Work with Political Rivals, Study Finds
Boris Johnson to Host 'An Evening with Boris Johnson' at Edinburgh's Usher Hall
Planned Change in British Citizenship Rules Faces First Legal Challenge
Northumberland Postal Worker Sentenced for Sexual Assaults During Deliveries
British Journalist Missing in Brazil for 11 Days
Tesco Fixes Website Glitch That Disrupted Online Grocery Orders
Amnesty International Critiques UK's Predictive Policing Practices
Burglar Jailed After Falling into Home-Made Trap in Blyth
Sellafield Nuclear Site Exits Special Measures for Physical Security Amid Ongoing Cybersecurity Concerns
Avian Influenza Impact on Seals in Norfolk: Four Deaths Confirmed
First Arrest Under Scotland's Abortion Clinic Buffer Zone Law Amidst International Controversy
Meghan Markle Rebrands Lifestyle Venture as 'As Ever' Ahead of Netflix Series Launch
Inter-Island Ferry Services Between Guernsey and Jersey Set to Expand
Significant Proportion of Cancer Patients in England and Wales Not Receiving Recommended Treatments
Final Consultation Launched for Vyrnwy Frankton Power Line Project
Drug Misuse Deaths in Scotland Rise by 12% in 2023
Failed £100 Million Cocaine Smuggling Operation in the Scottish Highlands
Central Cee Equals MOBO Awards Record; Bashy and Ayra Starr Among Top Honorees
EastEnders: Four Decades of Challenging Social Norms
Jonathan Bailey Channels 'Succession' in Bold Richard II Performance
Northern Ireland's First Astronaut Engages in Rigorous Spacewalk Training
Former Postman Sentenced for Series of Sexual Offences in Northumberland
Record Surge in Anti-Muslim Hate Crimes Across the UK in 2024
Omagh Bombing Inquiry Concludes Commemorative Hearings with Survivor Testimonies
UK Government Introduces 'Ronan's Law' to Combat Online Knife Sales to Minors
Metal Detectorists Unearth 15th-Century Coin Hoard in Scottish Borders
Woman Charged in 1978 Death of Five-Year-Old Girl in South London
Expanding Sinkhole in Godstone, Surrey, Forces Evacuations and Road Closures
Bangor University Announces Plans to Cut 200 Jobs Amid £15 Million Savings Target
British Journalist Charlotte Peet Reported Missing in Brazil
UK Inflation Rises to 3% in January Amid Higher Food Prices and School Fees
Starmer Defends Zelensky Amidst Trump's 'Dictator' Allegation
Zelensky Calls on World Leaders to Back Peace Efforts in Light of Strains with Trump
UK Prime minister, Mr. Keir Starmer, has stated that any peace agreement aimed at ending the conflict in Ukraine "MUST" include a US security guarantee to deter Russian aggression
×