The Jersey Evening Post reported on Wednesday that the jurisdiction has signed a Memorandum of Understanding (MoU) with the Gulf state of Bahrain, designed to facilitate cooperation between the two countries on issues such as applications for licences from financial institutions, and the investigation of irregularities.
The newspaper quoted Jersey Financial Services Commission (JFSC) director-general, Richard Pratt - who alongside Jersey Finance chief executive, Phil Austin, continued on to Bahrain at the weekend, following a seven day promotional tour of the UAE - as announcing that:
'We will be providing information on request, but we would also offer information spontaneously, as a partner regulator, if for example we found out anything of value to them.'
According to the JEP, a similar agreement is currently being discussed with the Central Bank of the United Arab Emirates.
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