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Jersey First Minister arrives

posted on 11/10/2003: 778 views

Senator Frank Walker, First Minister of the British Channel Island of Jersey, arrived last night, leading an official Jersey delegation on a one-week visit to the United Arab Emirates. Senator Walker is accompanied by Pierre Horsfall CBE, former First Minister and now the Chairman of Jersey Finance, the semi-government body charged with promoting the island as an international finance centre, and by other officials. Horsfall, then First Minister, and Walker, then Minister of Finance, led Jersey's first-ever delegation to the United Arab Emirates in October 2002.

During their stay, the Jersey team will meet with Government officials and with representatives of the finance industry in both Abu Dhabi and Dubai. They will also visit Bahrain before returning home. Jersey is one of the world's major financial centres, with over USUS$250 billion of funds under management. Its financial industry has extensive connections with the Arabian Gulf states and both the National Bank of Abu Dhabi, which recently announced the establishment of a Jersey trust company, and the National Bank of Dubai are represented there, while HSBC, the largest of the foreign banks in the UAE, has its international headquarters in Jersey. (The Emirates News Agency, WAM)


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