The island of Jersey has reached a landmark moment in its history as it celebrates its 50th year as a recognised international financial centre.
Jersey’s first international banking business was established back in 1961 by merchant banker H Samuel. Jersey began to become a popular destination for British expats throughout the 60s and 70s, as they recognised the isle’s standing as a tax haven.
Since then Jersey has gone on to become a major offshore financial centre, currently housing 45 banks, 2,000 investment funds, and many more financial services providers.
A number of events are to be held to commemorate the anniversary, with the first event already underway- the ‘Financial Heritage’ exhibition. The celebrations are planned to last the whole summer, and even into autumn where September 12 will mark the beginning of Financial Heritage Week. A special commemorative stamp will also be released that day.
Many of the evens are being led by Gary Cook, who is the CEO of Jersey Finance, an institution that promotes Jersey around the world. Mr Cook said: We are marking 50 years since we first began to export our financial expertise and intellectual capital to the world.