News Press Release

• Press Release
• Jan 14, 2014

Public Statement 14th January 2013

Public Statement Re: International Banking Group(TCI) Ltd. Grand Turk, Turks and Caicos Islands, BWI – 14 th January 2013 –

The Turks and Caicos Islands Financial Services Commission (“The Commission”) considers it necessary to issue this public statement in order to protect the public interest, and the interests of any of the customers and creditors of the International Banking Group (TCI) Limited (hereinafter referred to as „IBG‟), and further to make the general public aware that IBG is no longer a licensee of the Commission. 

The details are: 

•  IBG was issued a license to Carry on Banking Business (License No. I/08) pursuant to the Banking Ordinance on 5th March 2008.
•  IBG has been placed in voluntary run-off in/or about August 2012 and has ceased to carry on the business for which it was licensed.
• IBG was issued a „Notice of Intention of Revocation‟ of its License, pursuant to Section 34 of the Financial Services Commission Ordinance, on 11th October 2012 on the ground referred to in point 2.
• The Commission revoked IBG‟s license to Carry on Banking Business on 31 st December 2012. This Public Statement was issued pursuant to Section 39 of the Financial Services Commission Ordinance.

J. Kevin Higgins Managing Director