An official delegation from Rwanda for a-five day working visit has been welcomed by the Government of Jersey.
The visit builds on the commitment contained in the 2016 Memorandum of Understanding and 2019 Addendum signed between the Jersey and Rwandan governments to enhance cooperation across the financial services sector, including supporting Rwanda’s ongoing efforts to develop its offering as an International Financial Centre.
The visiting delegation will include representatives from multiple Rwandan government-led agencies, including the financial services promotion body Rwanda Finance Limited; the economic development institution Rwanda Development Board; the revenue collection agency Rwanda Revenue Authority; its two regulators National Bank of Rwanda and Capital Markets Authority; and the compliance agency tackling anti-money laundering, Rwanda’s Financial Intelligence Centre and Rwanda Stock Exchange.
The visiting delegation will take part in several workshops with counterparts from Jersey’s corresponding agencies, which seek to build capacity and expertise across both jurisdictions.
Jersey’s Minister for External Relations, Senator Ian Gorst (pictured), said: “This working-level visit continues to help us build on the deep relationship between our jurisdictions and highlights the high regard in which Jersey is held as an experienced IFC.
“It is also important that we continue to work with and learn from global partners to tackle the ever-evolving challenges of regulatory supervision and financial crime, and I am pleased that our partnership with Rwanda will help us both to prepare for those challenges as best we can”.
Rwanda’s Minister of Finance and Economic Planning, Dr. Uzziel Ndagijimana, said: “Our visit to Jersey will be beneficial for the entire financial sector ecosystem players and specifically for the development of the Kigali International Financial Centre.
“As Rwanda continues its journey to position itself as an international financial centre, more exposure to experienced international Financial Centres like Jersey regarding compliance to international standards, the regulatory framework and the tax administration of new products and investment vehicles that are currently coming into our market is highly needed.
“The cooperation between our two countries that started in 2016 will surely continue to strengthen our expertise in developing the financial sector ecosystem in Rwanda’’.