ARTICLE · 07 OCTOBER 2019

De-Risking In Jeopardy 2

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Yet again another financial institution finds itself under the spotlight in Antigua & Barbuda.

Antigua and BarbudaFinance and Banking

Ian Moncrief-Scott

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Yet again another financial institution finds itself under the spotlight in Antigua & Barbuda.

This time it is the BOI Bank Corporation trading as BOI Bank.

BOI, which was formed in March 1994 and based in Antigua, is promoted as an international bank connected to the global financial services network of Grupo Financiero BOD.

According to the BOD's website, the group consists of a conglomerate of fifteen companies operating in five countries in Latin America in the banking, capital markets, insurance and health sectors.

It is chaired by Venezuelan Víctor Vargas Irausquín, who lives in the lives in the Dominican Republic and who is also believed to be the sole shareholder.

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