Speaking in the United Arab Emirates (UAE) at the weekend, Jersey's first minister, Senator Frank Walker announced that Gulf investors hold some GBP40 billion ($67 billion) on the Island, adding that:
"Although a small percentage of investments is from the Arabian Gulf, it is growing significantly."
He went on to laud Jersey's anti-money laundering system, revealing that:
"Our regulatory regime is strong, we have tackled money laundering and tax evasion and we are recognised worldwide as a high quality offshore financial centre."
Senator Walker further explained that the Channel Island jurisdiction has adhered to all of the recommendations issued by the Financial Action Task Force (FATF), and as a result is not included on that organisation's 'blacklist'.
A favourable report from the International Monetary Fund (IMF) on Jersey's compliance with international anti-money laundering initiatives is also anticipated, the Policy and Resources chief concluded.
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