Jersey 'best international finance sector'

Jersey has beaten off opposition from the Isle of Man in being named the best international finance centre at the International Investment’s Fund and Product Awards 2007.

In winning the prestigious award, Jersey beat off competition from other international finance centres including Dublin, Gibraltar, Guernsey, the Isle of Man and Luxembourg, who were all short listed.

The Awards are described as the longest established and best known awards in the international market and the winners are chosen by a panel of 15 judges, all specialists in their chosen field, including experienced financial intermediaries and journalists.

The judges commented that they were impressed by the innovation Jersey has shown during the past year, identifying opportunities and introducing initiatives to keep up with the fast pace of change occurring in offshore centres. These initiatives included the introduction of Incorporated Cell Company Structures, a review of the Island’s trust law and the introduction of the Listed Fund Guide.

Pierre Horsfall, Chairman of Jersey Finance Limited, was present at the ceremony and received the award on behalf of the Island. He said:

“Competition amongst offshore jurisdiction is fierce but winning this award shows that Jersey’s regulatory initiatives, legislative programme and service offering have reached a standard that is helping the Island to stand out when compared to rival centres. In this case, the Island has been selected ahead of not only our nearest rivals, Guernsey and the Isle of Man, but also other major European Union finance jurisdictions such as Dublin and Luxembourg.

“I am delighted that Jersey’s Finance Industry has been acknowledged in this way, and also for the team at Jersey Finance who work so hard to promote the Island’s Finance Industry on the international stage.”