Jersey Government’s vision for the future of Jersey’s financial services industry has been unveiled.
The Financial Services Policy Framework sets out the vision for the sector’s future and the strategic priorities which Government will follow to achieve it.
The vision is to create the environment required to enable the continued success of Jersey’s financial services industry by facilitating the industry’s digital transformation, its continued compliance with global standards, and its transition into being a leading centre for sustainable finance.
Jersey’s financial services industry is centred on four pillars: private wealth, funds, capital markets, and banking. These pillars are underpinned by Jersey’s mature and developed financial ecosystem, which has depth in the skills and resource of its workforce and the digital capability of its businesses and the Island.
Jersey is an international leader for fiduciary services and is estimated to hold and manage assets of over £600 billion.
The Minister for Financial Services, Senator Ian Gorst (pictured), said: “Our core purpose in updating the policy framework has been to secure the future growth of the financial services sector and to ensure that it continues to be the engine of our economy.
“The framework builds on our strengths while taking us into new areas of opportunity, innovation and growth. Private wealth, funds, capital markets and banking remain the industry’s four core pillars, and Jersey’s skills and expertise will continue to underpin it, and sustainable finance and fintech will become increasingly important. The framework also reinforces our commitment to meeting international standards for compliance.
“This restates our clear vision and set of strategic priorities which will shape both Government activity and the involvement of the whole industry, ensuring that we move forward together and continue to provide our world-class services to clients across the globe.”
The Policy Framework for the Jersey Financial Services Industry can be read here.
