CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Jersey Welcomes Gulf Banking Business Increase

Jersey Welcomes Gulf Banking Business Increase

by Jason Gorringe, Tax-News.com, London

01 May 2013


Jersey Chief Minister, Ian Gorst has returned from a successful visit to the United Arab Emirates where he highlighted the substantial growth seen in Jersey banking deposits from the region.

Gorst attended meetings with government and businesses to discuss a range of issues, including financial services, international development, renewable energy and education.

During his visit, Gorst met with the CEO of Abu Dhabi Commercial Bank (ADCB), Mohammed Atta Khali Eraiqat, during which he highlighted that 13% of total bank deposits in Jersey now come from the Gulf, and also welcomed the bank's decision to form a standalone branch in Jersey earlier in 2013.

Gorst said: “The strong links that exist between Jersey and Emirati banks are particularly striking proof of the commercial worth of our relationship. Given the steady increase in deposits from the Gulf over the last couple of years, and the success of ADCB’s branch in Jersey, we expect Gulf deposits to increase."

Discussing future initiatives with the UAE, Gorst added: “We want to broaden our connections by exploring opportunities both within our traditional areas of expertise, as well as branching into new and exciting initiatives,” including in the clean technology and renewable energy sectors.

TAGS: United Arab Emirates | tax | business | offshore confidentiality | energy | banking | financial services | international financial centres (IFC) | Jersey | offshore | education | offshore banking | banking secrecy | services

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »