Managers of Wealth Offshore

BoJ to pay 6.25% per year on another 30 day fixed rate Certificate of Deposit

The interest paid on the instrument will be taxed at a rate of 25 per cent.

Standing room only: a “person aggrieved” under s.273 of the BVI Insolvency Act 2003

This was the first appeal reaching the Board from the Court of Appeal of the British Virgin Islands concerning the meaning and scope of section 273 of the IA1.

Government has “no intention” of mandating gender pay gap reporting

The aim of the meeting was to establish what, if anything, the Government is doing to encourage gender pay gap reporting in both the public and private sectors.

Credit Suisse pleads guilty to tax crimes, agrees to pay $511M

The lender now owned by UBS pleaded guilty to conspiring to hide more than $4 billion from the IRS in at least 475 offshore accounts.

And finally… banking on paradise

Due to be completed by 2030, the aim is to notably increase the country’s GDP within four years with projected revenue to be well over $1bn by the fifth year.

MVR 100 million decrease in money circulating in economy

As per central bank Maldives Monetary Authority (MMA)'s annual report, MVR 59.1 billion is being circulated in the Maldives economy at present. The amount of money in circulation recorded in 2023 was at MVR 59.2 billion.

Wilton Re CEO: residency issue hinders international business

Ms Oliveira said this is a disruption, not just for the impacted families, but to business continuity and institutional knowledge within the international business sector.

URCA boosts 2025 budget by 15 percent to support expanded regulatory mandate

According to the draft, URCA will continue prioritizing sustainability, regulatory transparency, and consumer protection, positioning itself as a more agile and forward-looking regulator.

Central Bank records positive economic growth for the first 9 months of 2024

Data from the Central Statistical Office (CSO) showed that real GDP improved by 0.3 per cent

UK offshore havens miss deadline for transparency plans

British Virgin Islands criticised for launching financial crime-fighting cartoon mascot before new legislation

Lawyers welcome ganja decriminalisation vote result

He said the next government should make relaxation of the law on ganja a priority.

Channel Islands Regulatory update: April 2025

This document notes that "authorities are already reflecting on the recommendations in the report and identifying any measures that need to be taken to address them.

Jersey’s first community ground solar farm doubles local solar generation capacity

It is in its truest sense a community-based scheme – owned by the Island, through its interest in JE, providing power for the Island.

Significant increase in data protection breaches reported in Guernsey

Despite the client providing a new e-mail address to be used, the organisation continued sending private correspondence to the hacked account.

Government targets cost of living and workforce gaps

“But there is an aversion of one’s purchasing power based off the cost of living.”

BOV will not pursue HSBC takeover

Bank of Valletta says it will not be pursuing any transaction related to the acquisition of shares in HSBC Bank Malta

CDB Joins Global Push To Reform Credit Rating Methodologies For Multi-Lateral Development Banks

MDBs participants reiterated the importance of ensuring that credit rating criteria properly reflect the risk-mitigation mechanisms inherent in MDBs’ business models.

Favara services interrupted due to technical issues

Favara offers transfers from Bank of Maldives, Maldives Islamic Bank, State Bank of India, Mauritius Commercial Bank and Bank of Ceylon.

Central Bank Governor issues warning over rising threat of deepfake scams and bogus investment schemes

Deepfake technology has made it easier than ever for scammers to create highly convincing, yet entirely fraudulent, content, capable of mimicking voices, video footage, and even facial expressions.

BOV confirms approach by consortium bidding to take over HSBC Malta

The Bank will continue to monitor developments closely and remains committed to ensuring transparency and full compliance with its regulatory obligations

Regulation, Risk & Compliance