l Banking Center Regulatory Act (hereinafter the "Ace) into law. The Act repeals Title 9, chapter 21 of the Virgin Islands Code ("VIC') and replaces Exempt International Banking Facilities ("EIBF") with International Banking Entities ("IBE"), which will be administered by the Director of Banking and Insurance of the Office of the Lieu

Banking Center Regulatory Act (hereinafter the "Act') into law. The Act repeals Title 9, chapter 21 of the Virgin Islands Code ("VIC') and replaces Exempt International Banking Facilities ("EIBP) with International Banking Entities ("IBE"), which will be administered by the Director of Banking and Insurance of the Office of the Lieut

Types of Exempt Companies. The law provides for two special types of exempt companies Exempt International Banking Facilities and Exempt Insurers. Exempt International Banking Facilities The Virgin Islands Exempt Company Law established a new type of banking entity called an Exempt International Banking Facility ("EIBF"). EIBF's mus