Jersey Finance, promoter of Jersey’s leading international financial centre, hosted its annual conference in Dubai on November 8, under the theme ‘Regulation, Risk and Reward: A Balancing Act.’
The Jersey Finance Annual Dubai Conference 2023 featured captivating sessions, including a fireside chat and a panel session led by Allan Wood, Global Head of Business Development, Jersey Finance with An Kelles and Faizal Bhana from Jersey Finance’s Middle East Regional Hub office in the Dubai International Finance Centre (DIFC).
The event explored the intricate realms of risk and compliance. It examined how these crucial elements are mitigated and balanced by international finance centres within the Gulf region and globally, and examined generative AI and the potential impact on the international finance industry.
Allan Wood, Global Head of Business Development, Jersey Finance said: “Our commitment to being a cooperative jurisdiction that proactively fulfills global regulatory obligations, while concurrently fostering a pro-business, innovative and agile approach, forms the bedrock upon which our esteemed reputation has been built.”
He added: “At present, Jersey is pivotal in intermediating approximately $1.4 trillion of international capital, originating from all corners of the globe. This reflects our commitment to facilitating the seamless flow of global capital responsibly and progressively.”
The event underscored the critical role played by Jersey in the Gulf region, where it manages firms with approximately $136 billion in assets. Jersey’s proactive approach includes fostering information exchange and establishing regulatory agreements with various countries, including the UAE.
The historical significance of Jersey’s presence in the UAE was highlighted. It established its first representative office in the country in 2011 and further solidified its commitment in 2018 by becoming the first International Financial Center (IFC) to open its office in the Dubai International Financial Centre (DIFC).
Additionally, Jersey Finance has forged a significant partnership with the DIFC Authority through a Memorandum of Understanding, setting the stage for even closer collaboration between the two jurisdictions.
This high-profile event primarily targeted the GCC-based professional advisory community, family offices, families, and key players within the financial services ecosystem. It also provided an invaluable networking platform for both local and Jersey-based wealth professionals, enhancing opportunities for meaningful interactions and connections.
View pictures of the event on Flickr.