Participants in the financial services industry of the British Virgin Islands are broadly satisfied with the state of the sector and have expressed an optimistic outlook, according to a government survey.
The survey took into account the views both of those directly involved in the financial services industry, and others indirectly involved such as civil servants. It found that industry participants are broadly satisfied with the state of the financial services sector, and 80% were optimistic that it was headed in the “right direction.”
The survey also examined respondents’ perceptions of the relationship between the government and the financial services industry, with two-thirds answering that there existed a “strong, open and productive” relationship in this area.
In addition, the poll revealed that the industry is broadly satisfied with the regulations implemented by the Financial Services Commission, as well as the general responsiveness to problems in the finance sectors by the government.
However, around two-thirds felt that the jurisdiction’s employment base was too small to serve the needs of the finance industry, although the majority were supportive of initiatives to create more opportunities for local citizens within the sector.
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