Middle East banks favour Jersey move

Jersey's attempts to promote itself to international markets has resulted in approaches from several Middle Eastern banks looking to operate from the jurisdiction. Martyn Scriven, president of the Jersey Banking Association, said the Middle Eastern banks had been in talks with the Jersey Financial Services Commission to obtain a licence allowing them to operate. He added: "Around three or four Middle Eastern banks have been looking to set themselves up here to be part of the international banking market, following Jersey's decision to actively promote itself to the region. "These banks...