Photo and Caption
Photo and Caption
Ministry of Financial Services, Economic Development and Digital Transformation
Release Date:
Friday, 13 December 2024 - 8:40am
On Wednesday, December 11 the Virgin Islands Deposit Insurance Corporation (VIDIC) commemorated the opening of their Headquarters on Main Street with a ribbon cutting ceremony.
Present were Premier and Minister of Finance, Honourable Dr. Natalio D. Wheatley, Financial Secretary, Mr. Jeremiah Frett, VIDIC Chairman, Mr. Ian Smith along with representatives from Member banks and the public.
VIDIC’s Core Objectives:
Deposit Protection: Ensuring safety for your deposits in any financial situation.
Financial Stability: Contributing to a resilient and robust financial sector.
Public Awareness and Education: Enhancing knowledge about financial safety and sound banking practices
Collaboration with Financial Institutions: Working alongside banks to uphold and maintain high standards of financial security.
VIDIC is designed to be the financial safety net for the Territory, offering crucial deposit protection. In the event of a bank's failure, VIDIC helps to ensure that your hard-earned money is safe. It's a proactive measure to instill confidence and security in our banking system, providing peace of mind to every depositor.
Photo Credit: Franklyn Skerritt/GIS