By Faisal Bahana, Head of Middle East, Africa & India – Jersey Finance
Jersey Finance, the award-winning international finance center, enjoys a long-standing partnership with the Gulf region. Today, Jersey’s International Finance Centre in Dubai stands out for its progressive approach, offering stability, strong governance, and reliable structures that provide strategic advantages for Gulf businesses and families seeking to achieve their international investment goals.
The Middle East represents Jersey Finance’s largest and most important market alongside the UK and Europe. Jersey Finance established its presence in Abu Dhabi in 2011 to provide close-range services to clients across the GCC. In 2018, the International Finance Centre relocated its regional headquarters to the Dubai International Financial Centre (DIFC), enabling it to serve a wider region including East and West Africa and India.
According to Jersey’s Financial Services Commission, the total deposits held in Jersey banks rose to £156.4 billion, marking the highest figure since 2011. This growth demonstrates Jersey’s ability to meet the evolving needs of investors in the UAE and the wider Middle East.
Joe Moynihan, CEO of Jersey Finance, emphasized the importance of collaboration among international finance centers to serve high-net-worth clients. Jersey’s expertise and rule-of-law framework enable effective wealth management and support succession planning for the next generation, strengthening relationships with regional businesses and family offices.
Since the establishment of DIFC, Jersey Finance has been one of the early strategic partners. Today, many Jersey clients have offices or branches within the DIFC. This close partnership has also fostered strong connections between East and West Africa and India, complementing Jersey’s regional role in the Middle East.
Jersey’s services have been particularly well received by businesswomen in the region, who seek to grow their wealth and access capital, financing, and appropriate governance structures. Jersey’s robust legal and regulatory framework supports this vital sector in Dubai, the UAE, and the wider Middle East.
The prevalence of family-owned businesses across the GCC has led to significant intergenerational wealth transfer, increasing demand for Jersey’s expertise in private wealth structuring. Jersey’s stable environment, connection to the UK, professional talent pool, and comprehensive services further reinforce its jurisdiction’s attractiveness, especially regarding tax and regulatory considerations.
In recent years, Jersey Finance has hosted numerous events and roundtables engaging family businesses, including women in leadership roles and next-generation leaders. These events have focused on governance and succession planning, which are critical issues for family businesses in the region.
The enduring partnership between Jersey and the Gulf is built on forward-looking strategy, strong governance, and the ability to support evolving investor needs. As a trusted jurisdiction and partner, Jersey Finance will continue strengthening relationships with clients in the Middle East, contributing to the development of the region’s dynamic financial landscape.
