Jersey rated as the top offshore jurisdiction

News - Banking

Friday, 25 September 2009 15:26

Jersey has been established as the highest rated offshore international finance centre in competitive rankings published on 22 September by the City of London.

Jersey is 14th in the latest Global Financial Centres Index (GFCI) overall, following close behind some major city financial centres such as Frankfurt, Sydney and Toronto. The rankings are led once again by London and New York. Only Guernsey, one place below, and Luxembourg (16th) feature in the top twenty among the Jersey finance industry’s direct competitors.

The report indicates that there is now a strong correlation between GFCI rankings and the OECD status of the various jurisdictions, with those centres that have not achieved ‘white list’ status, such as the Bahamas (48th) and Gibraltar (51st), placed very much lower in the rankings. The report also indicates that Jersey and Guernsey have increased their lead over both the Isle of Man (25th, a fall of seven places) and Cayman (26th) which fell four, in the overall assessment.

Geoff Cook commented, “Coming so soon after our excellent review from the IMF, these latest rankings from the City of London study are another endorsement of how positively we are considered by the international finance community. It is particularly encouraging that towards the end of a very difficult year for the finance industry globally, Jersey has retained its position in the world’s top 20 and is now also the highest ranked of the offshore locations.”