Jersey has retained its position as the world's top offshore financial centre, according to the latest Global Financial Centres Index (GFCI). The GFCI, which is published twice a year by the London-based think tank Z/Yen Group, ranks 75 financial centres around the world on both how well they are performing against their competitors, and how highly they are rated by financial services professionals.

Although Jersey slipped one place from the last index in September 2010, from 22nd to 23rd place, it was still ranked more highly than all its offshore competitors – including Guernsey (in 27th place) the Isle of Man (in 35th place) and the Cayman Islands (38th place).
Many financial centres scored lower than in the last index, with 47 countries receiving a lower ranking. Offshore centres fell further than the average – reflecting, Z/Yen suggested, a mistrust in offshore financial dealings which has been growing since the beginning of the financial crisis.

The Cayman Islands and Malta were the offshore centres which dropped most in the index, by four places each, while the Isle of Man dropped three. The only offshore centre out of the 11 included which was not ranked lower in this index was the British Virgin Islands, which remained in 40th place.

Geoff Cook, chief executive of Jersey Finance Limited, said that the report highlighted how ”Jersey is regarded on the global stage as a market leading international finance centre and that it is recognised as one of the top 10 centres to grow in significance over the next few years.”
source: www.telegraph.co.uk