RESPONSE FROM BVI FINANCE ON THE UK GOVERNMENT'S DECISION NOT TO IMPOSE DIRECT RULE

TORTOLA,British Virgin Islands,June 9,2022 --BVI Finance welcomes today's announcement from the UK Government that it will work in collaboration and partnership with the newly-formed British Virgin Islands (BVI) Government of National Unity to implement reforms as recommended by the Commission of Inquiry (COI) Report,without direct rule from London.

Today's announcement provides certainty and stability for the Territory's financial services industry,which is operationally independent,meets the highest international regulatory standards,and continues to offer quality products and services around the globe.

Speaking at the press conference,the BVI Governor H.E John Rankin stated clearly that the COI was not an investigation into the BVI's financial services sector,which he reaffirmed "continues to comply with the best international standards."

The BVI's financial services industry has demonstrated strong growth in recent years despite the challenges of the global pandemic. As such,we are confident in the continued success and growth of the BVI as a leading global financial centre,with an established international talent pool,robust regulatory bodies,and unrivalled products and services.