Friday, March 28, 2014

British Virgin Islands Ranked High in Global Financial Centres Index


The 15th edition of the Global Financial Centres Index (GFCI) has named the BVI as a top five offshore finance centre. In total, among financial centres, it is in the 44th place, followed by 39 other countries. In GFCI15 report, 29 financial centres got higher positions in the ranking, 47 countries lost their positions, and 4 remained in the same place.

The GFCI report appears two times a year, providing profiles and rankings for global financial centres based on instrumental factors and the online survey results. It is an influential report in the financial world. 

Premier and minister of finance of the British Virgin Islands, Dr Orlando Smith commented on the results of the report: “This rating is testament to the comprehensive legislative and world class regime for financial services business that exists in the BVI today… The strong performance of the BVI can also be attributed to the strength of our independent regulator. This has been acknowledged and endorsed by several independent supranational standard setters and underpins my government’s belief that good regulation is good for business.”

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