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FINANCIAL NEWS
GCC deposits in Jersey reach USD33b
06 Jul 2012
(MENAFN) The Jersey Financial Services Commission said that total deposits made by Gulf countries in the island have reached USD33 billion so far, reported Arabian Business.
The commission noted that these deposits account for 14 percent of the island’s total deposits; moreover, they mark an 11-percent gain since Jersey Finance launched an office in Abu Dhabi in 2011.
It said that during the past 5 years, deposits by Gulf countries have increased the double, driven by Jersey’s position as a global finance hub that managed to attract deposits.
It is worth noting that nearly 15 banks and trust firms with offices in Jersey are represented in the Gulf.
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