Local banker and consultant Mr. Paul Byles has recently authored a first of its kind introductory textbook on the offshore financial services industry with specific focus on the British Virgin Islands, on behalf of the BVI regulator, the Financial Services Commission. This is Paul Byles’ second book having already published Inside Offshore, a guide to offshore services and offshore finance issues, in 2006.

“The project which started over 2 years ago seeks to provide an introductory reference point for students looking to learn more about offshore financial services and in particular the BVI financial services environment. It’s a great opportunity to offer a course at the local community college level in the BVI and that was the impetus for the initial discussions I had the with the BVI authorities, explains Mr. Byles.

In the book’s foreword, Mr. Robert Mathavious Head of the BVI Financial Services Commission, describes Byles as “an acquaintance of the FSC for just over a decade [who] has carried out regulatory consulting for the BVI regime in the past. He is a former regulator and qualified economist in one of the leading offshore jurisdictions who has worked and continues to work directly within the offshore finance sector. He therefore brought the 360 degree skill set required for what I hope you will agree is an impressive and comprehensive publication on offshore finance and related issues.”

Mr. Byles reveals that he has broached the subject both informally and formally with local authorities on a few occasions over the past 10 years before approaching the BVI and still hopes that sometime in the future a similar initiative can be carried out in the Cayman Islands.

Mr. Byles previous taught offshore financial services as a part time lecturer at UCCI and founded the offshore financial services diploma program which ran for two years at the local college.

“The idea for the book arose based on my experience teaching and presenting seminars on offshore finance over the years where it became clear that some form of formal reference or text was required to assist with training being delivered to students or those just looking to better their knowledge in the industry. I hope it contributes to helping those looking to learn or those who continue to provide training to others relating to the offshore financial services industry, he added.

Mr. Byles is a Director and CEO of First Regents Bank, serves as an independent director of financial services companies and offers consultancy services. He is well known as an author on many issues relating to the economy and the financial services industry and founded the Cayman Financial Review, the leading local financial services magazine now published by the Pinnacle Media.