Connect with us

News

All NEW:  TCI FINANCE launched

Published

on

Dana Malcolm

Staff Writer

 

#TurksandCaicos, January 20, 2024 – TCI Finance, the new marketing agency for the Financial Services Industry, has officially launched; outfitted with a new CEO the government-funded entity is going after the ‘big fish’, that is International finance professionals and high-net-worth individuals via a sophisticated new brand and website.

Featuring the Tagline ‘What Moves You?’ the website bills the Turks and Caicos as an emerging leader in international finance with a strong legal system, effective regulations and no direct taxes. It encourages investors to ‘invest somewhere you love’.

The team of finance veterans that sit on the TCI Finance board was put together in early 2022 to fulfill the government’s mandate of increasing the financial sector’s revenue to a cool $25 million in the next five years. It’s a mandate borne from a desperate need to diversify the economy and optimise the sector.

Now Paul Pirie, CEO, and former Executive Director at JPMorgan Chase & Co is leading the charge.

Locals are not to be left out of the significant growth expected to come for the financial services sector.

“TCI Finance works in the best interests of investors, institutions, and our own citizens to develop the Turks and Caicos Islands and foster a thriving, inclusive IFC community built on a foundation of social and economic growth,” Pirie said in a recent press release.  It’s reminiscent of the rhetoric making up the country’s new investment policy.

When Magnetic Media spoke to board member David Stewart, a 30-year-lawyer and Co-Chair of TCI Finance, last year he had explained that keeping islanders involved was part of the group’s mandate.

“Our measures of success will be in investors won, and good quality and well-paid professional jobs for residents of TCI created, alongside the creation of a strong, reputable, and attractive brand aligned with and connected to our superb reputation as a luxurious, beautiful place to work, live and play.”

After spending nearly two years behind the scenes the agency is stepping into the limelight with a sustained push ‘to promote and market the Turks and Caicos Islands as a welcoming, supportive, and well-regulated jurisdiction for international financial services,” said Stewart.

Pirie is joined by:

  •  Chair – E Jay Saunders (in his capacity as Minister of Finance)
  • Vice-Chair – David Stewart (in his capacity as President of the FIA)
  • Angela Musgrove (in her capacity as CEO of Invest TCI)
  • Athenee Harvey-Basden (in her capacity as PS, Ministry of Finance)
  • Niguel Streete (in his capacity as CEO, Turks and Caicos Financial Services Commission)
  • Drexwell Seymour, Certified Public Accountant
  • Mr.  Marcus Samuel (in his capacity as Chair of the Bankers association)
  • Sally-Ann Astwood (appointed by the Hon. Leader of the Opposition)
  • Ryan Blain (on behalf of the accountancy association)
  • Rochelle Musgrove
  • Ervine Quelch (corporate development, former NIB board member)

The TCIF is a non-profit partially owned by the Government and the Finance Industry Association (FIA),

Continue Reading

News

TCI Delegation shines at Caribbean Renewable Energy (CREF) Forum 2024 held in Miami

Published

on

PRESS RELEASE

FROM THE

MINISTRY OF PUBLIC SAFETY & UTILITIES

 

May 8th, 2024 – The Caribbean Renewable Energy Forum (CREF) 2024 concluded last week in Miami, marking another milestone in advancing the region’s energy agenda. This year’s forum, held from April 24-27, at the JW Marquis Hotel in downtown Miami, attracted some of the most distinguished names and advocates in the field of renewable energy.

The delegation from The Turks and Caicos Islands led by Hon. Kyle Knowles of the Ministry of Public Safety and Utilities included Permanent Secretary Mrs. Bridgette Newman, Energy and Utilities Commissioner Mr.  Delano R. Arthur, Energy Analyst Dr. Eric F. Salamanca, Senior Legal Drafter Ms.  Priscilla Paquette, and Executive Administrator Ms.  Jasmine Malcolm.

Hon. Knowles was among the high-caliber panelists in the session called “Caribbean Leadership: Delivering on the Vision” where he highlighted the policy directions of TCI government towards transitioning to renewable energy. Hon. Knowles served as a panelist, discussing the transformative strategies required to integrate renewable technologies across the Inland territory, Turks and Caicos Islands (a UK Overseas Territory Caribbean). His insights on policy enhancements and infrastructural development were met with high interest and acclaim, underscoring his pivotal role in shaping the energy landscape.

Commissioner Delano R. Arthur, a key transformative leader in the energy sector, presented a compelling paper titled “Renewable Energy and Resource Bill for the Turks and Caicos Islands.” His presentation highlighted the legal framework for transition to renewable energy, interconnection agreement, licensing among others. He also emphasizes the use of mature commercial technology, rather than emerging technologies that have not been proven in commercial scale.  He also presented an approach to overcoming logistical and financial challenges in TCI. Com. Arthur’s pragmatic and innovative solutions offered a visionary perspective that resonated with the attendees.

Dr. Salamanca, and Atty. Paquette, also contributed to a roundtable discussion on Regulatory Framework led by the Caribbean Development Banks’ Mr. Joseph Williams and Mr. William Hinds, each bringing unique viewpoints and solutions to the challenges facing the TCI energy sector.

The attendance at year’s CREF also provided opportunity to establish networks. Among the most notable side event meeting was with the Caribbean Development Bank (CDB) where the TCI delegates discussed various projects in support of transition to green/renewable energy in the Turks and Caicos Island.

Commenting on his first CREF, the Hon Minister noted, “I am pleased to have had the opportunity to participate in the Caribbean Renewable Energy Forum (CREF) held in Miami, Florida. The Forum provided a valuable platform for discussions on the advancement of renewable energy solutions in the Caribbean region.

During the event, I engaged with key stakeholders, industry experts and government officials to exchange ideas on strategies to promote sustainable energy development. Renewable energy plays a crucial role in enhancing energy security, reducing greenhouse gas emissions and fostering economic growth in our region.

He concluded, “I am committed to working collaboratively with partners both regionally and globally to further renewable energy initiatives and accelerate the transition to a more sustainable energy future. Our participation in events such as CREF our underscores our dedication to advancing clean energy solutions and building a more resilient and sustainable energy landscape for the benefit of our citizens.”  

Continue Reading

News

DTR AND DECR HOST STAKEHOLDERS MEETING WITH INSURANCE COMPANIES TO IMPROVE COVERAGE FOR JETSKI OPERATORS

Published

on

PRESS RELEASE

 FROM THE DEPARTMENT OF TOURISM REGULATIONS AND THE DEPARTMENT OF ENVIRONMENTAL AND COASTAL RESOURCES

 

Providenciales, Turks and Caicos Islands, 8th May 2024 – The Department of Tourism Regulations aims to bridge the gap between insurance companies and water sports operators struggling to acquire adequate business insurance. The goal is to create a robust and sustainable tourism product that ensures safety and reliability for all stakeholders. On April 30, 2024, the DTR hosted a meeting with four insurance companies to address concerns regarding liability risks, enhance coverage options, and explore avenues to bolster safety measures through comprehensive insurance provisions

The meeting involved key representatives from prominent insurance companies, namely from ‘NW Hamilton’: Elianise Rigby and Jewel Ewing; ‘JS Johnson’: Queen Been; ‘CSC Insurance’: Alicia Palmer; and GK Insurance: Marie Beckford. Government officials present from DTR: Director Avi Adams, Deputy Director Talia Thomas, Regulation Development Specialist Sasha Arthur, Quality Assurance Officer Donessia Gardiner, Communication Officer Alique Harvey, and DECR’s Deputy Director Jatavia Howell, as well as Experience Turks and Caicos representative Strategic Development Manager Courtney Robinson, to develop tailored solutions that meet the unique needs of Jetski operators within the local tourism landscape.

Currently, insurance options for Jetski owners in the Turks and Caicos Islands are limited, posing challenges for operators and regulators. Through collaborative efforts with insurance providers, the DTR is committed to expanding coverage options and streamlining insurance processes to promote compliance and enhance safety standards across the industry.

“The Department of Tourism regulations is in charge of ensuring that the tourism product of the Turks and Caicos Islands is robust and sustainable. Upon setting regulations, we realize that some companies, local companies struggle with obtaining insurance,” said Avi Adams, Director at the Department of Tourism Regulations. “Our department, along with the DECR and the TCIG at large, is on a mission to bridge that gap to ensure that local vendors can obtain the insurance that is needed to offer a tourism product that can be safe and reliable, while also helping to mitigate some of the risks that insurance companies may have challenges with.”

Remarking on the proceedings of the meeting, Queen Been of J.S Johnson Insurance said “I am grateful to the Department of Tourism regulations in the TCI for hosting a timely, informative presentation on enacting laws for best practices for water sports and other tourism businesses. This will be of interest to all stakeholders, and the safety of our guests. Thank you for the opportunity to attend and lend my voice to encourage responsible management of our tourism product by all.”

The meeting outcome will inform the DTR’s ongoing efforts to implement regulatory measures that prioritize safety without stifling the growth of recreational activities vital to the local tourism sector. Through continued collaboration with stakeholders, the department remains steadfast in its commitment to fulfilling its promises and fostering a climate of trust, transparency, and accountability within the industry.

Continue Reading

News

NATIONAL SECURITY COUNCIL STATEMENT REGARDING RECENT THREATS MADE AGAINST TURKS AND CAICOS ISLANDS AIRPORTS AND SCHOOLS

Published

on

May 6th, 2024 – As co-chairs of the National Security Council, Her Excellency the Governor and the Honourable Premier condemn strongly recent threats made against Turks and Caicos Islands airports and schools.

We have zero tolerance for these disruptions and the alarm that they cause. The Royal Turks and Caicos Islands Police Force (RTCIPF) continues to work closely with partner agencies and will keep the public updated as we manage the situation.

The National Security Council wishes to reassure residents, travellers and parents that the safety and security of our Islands is its highest priority.

All appropriate measures are being taken to address these threats and all required security protocols are being followed.

The Airports Authority and the Ministry of Education, with school principals are collaborating with the RTCIPF  investigations.

We encourage the public to be extra vigilant against phishing and malicious emails and report any suspicious activity to the authorities.

We appreciate the understanding of the public as we work to ensure the safety and well-being of our airports, schools and communities.

Continue Reading

FIND US ON FACEBOOK

TRENDING