CIBC FirstCaribbean is a major Caribbean bank offering a full range of financial services in retail and corporate banking, wealth management, treasury sales and trading, and investment banking.
Although there is no deposit guarantee scheme in the British Virgin Islands, the Government of the British Virgin Islands acknowledged the need to offer some level of security to depositors. In May 2016, the Virgin Islands Deposit Insurance Act 2016 (VIDIC Act) providing necessary framework was published. The implementation of the deposit insurance system is designed to protect at least savings of domestic depositors in the Territory: in the case of FirstCaribbean International Bank (Cayman) Limited failure its depositors will not get any compensation.
FirstCaribbean International Bank (Cayman) Limited is located in Tortola.