2 new Board Chairpersons appointed: Ingrid A. Moses & Neville A. Smith

ROAD TOWN, Tortola, VI- While a Minister is requesting one Board Member at the BVI Health Services Authority (BVIHSA) to resign, the Government of the Virgin Islands (VI) has appointed two new Board of Director Chairpersons.

Former Speaker of the House of Assembly (HoA) and ex-political candidate with the Progressive Virgin Islands Movement (PVIM) Ms Ingrid A. Moses has been appointed as Chairperson of the National Bank of the Virgin Islands (NBVI) for three years. The appointment will expire in 2027.

Is the bank financially healthy?

The Chairperson of the Board of Directors plays a vital leadership role in shaping the strategic direction of the NBVI by overseeing operations, and ensuring effective governance. The primary objective is to provide clear guidance and direction to the Board, ensuring the Bank operates in alignment with its mission, vision, and regulatory requirements. In this role, the Chairperson presides overboard meetings, and fosters a collaborative environment to make informed decisions in the best interest of the Bank and its stakeholders. Additionally, the Chairperson acts as the spokesperson for the Board and serves as the principal point of contact for the Chief Executive Officer (CEO).

The NBVI has faced criticism for moving away from its mission to help the ‘little man’, which includes small startup businesses, farmers and fisher folks. In recent years they have sold many local properties due to nonpayment of loans and allegedly giving out ‘bad loans’ that were not sustainable. The health of the bank is unknown. Chairwoman Moses comes to the table, having had years of banking experience and she is also an Attorney. The CEO of the bank is Joy N. Francis-Penn.