New regulatory agreement to be signed during Gulf visit by Chief Minister

| May 2, 2014 | 0 Comments
Richard Corrigan

A Jersey delegation led by its Chief Minister, Senator Ian Gorst, and including the Island’s financial services regulator and senior government and industry figures, will be visiting the United Arab Emirates (UAE) from Sunday (May 4) when the latest regulatory agreement will be signed.

The Jersey Financial Services Commission (JFSC) represented by Director General, John Harris, will sign a Memorandum of Understanding with the Emirates Securities and Commodities Authority (ESCA) on Monday (May 5). The agreement will further assist in the development of regulatory links between Jersey and the Gulf and it will strengthen Jersey’s ability to undertake business in the region.

During the visit Senator Gorst will be meeting with a number of ministers, senior government officials and other key business introducers.

Among those accompanying him on his four day visit, which involves a full itinerary in both Abu Dhabi and Dubai, are Joe Moynihan, Director of Financial Services at the States of Jersey, Mike King, Chief Executive Officer of the Economic Development Department at the States of Jersey, and Sean Costello, Head of Business Development for Jersey Finance in the GCC and India.

Jersey Finance officials and finance industry representatives will also visit Saudi Arabia where Jersey Finance is a sponsor of the Euromoney Saudi Arabia Conference, the longest established and biggest financial conference in Saudi Arabia, which is held over two days in Riyadh and attracts more than 1,200 delegates.

Richard Corrigan, Deputy Chief Executive, Jersey Finance Limited, who will be leading the Jersey Finance team at the Euromoney Saudi Arabia Conference, commented:

“For over ten years Jersey’s senior ministers have been regularly visiting the Gulf and each visit significantly helps to strengthen and broaden Jersey’s relationships in the region, and contributes positively to our global business development strategy.

“This latest visit to the Gulf will provide an ideal platform for fostering closer ties at the highest level, whilst reinforcing our commitment to what is undoubtedly one of our most important overseas markets. With an office firmly established in Abu Dhabi since 2011 and plans to recruit a further representative in Dubai who will help spearhead Jersey’s business development across the wider Gulf region including Saudi Arabia, Jersey is gearing up its resources as part of a sustained commitment to the region.”

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Category: Finance & Business

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