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Jersey Finance Cultivates Dubai Connections,
by Jason Gorringe, Tax-News.com, London
Wednesday, December 14, 2005
The presence of a Jersey Finance representative at an event to mark the official
opening of the Dubai International Finance Centre is indicative of the jurisdiction's
growing influence in the Middle East's newest and fastest growing financial
services hub, according to Pierre Horsfall, CBE, the Chairman of Jersey Finance.
Mr Horsfall was one of the special guests at the grand official launch of the
Centre by His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown
Prince of Dubai and President of the DIFC during which Dr Omar Bin Sulaiman,
Chairman and Director General of the DIFC Authority, celebrated its first year
of success.
Commenting on the event, Mr Horsfall was keen to draw attention to the fact
that not all offshore jurisdictions were represented in Dubai.
"I believe it was significant that Jersey was invited to be represented
at this event when it was certainly apparent that many of the other offshore
jurisdictions were not present," Mr Horsfall observed.
"After the official opening ceremony, Dr Sulaiman took the trouble to
come across and talk to me directly which I think is a further indication of
the regard with which Jersey is held in the region," he added.
Jersey Finance delegations have been regular visitors to Dubai in recent years
and Jersey based finance organisations continue to work with professionals in
the Gulf region with a view to bringing more business to the Island.
In March, a 50-strong government team, led by Senator Frank Walker, President
of the Policy & Resources Committee, senior policy-making committee of the
States of Jersey, accompanied by 40 senior finance industry representatives,
undertook Jersey's largest ever promotional tour to the Gulf region, taking
in Dubai, Abu Dhabi and Bahrain.
"The fact that Jersey was invited to send a representative is a reflection
of the work that has been done in building commercial links with the region.
It also helps to cement our growing relationship with prominent and senior figures
within Dubai," Mr Horsfall noted.
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