Guernsey: Guernsey Finance Recognised For Work In The Middle East
Last Updated: 23 May 2012

Guernsey Finance, the promotional agency for the Island's finance industry, has been named as one of the 50 most influential organisations working within the Middle Eastern and North African funds industry.

Leading trade magazine, MENA Fund Manager, has included its Power 50 within issue 32 of the magazine, which was published on Monday 14 May. Guernsey Finance is one of only three 'offshore' organisations or individuals and the only promotional agency featured on the list.

MENA Fund Manger's Power 50 has been collated in response to nominations made by industry professionals in recent months.

Peter Niven, Chief Executive of Guernsey Finance, said: "It is very pleasing to be featured on the list and it is particularly impressive that we are the only promotional agency to be listed from what the magazine views as the 'offshore' world.

"This is recognition of the steady but growing amount of activity we are undertaking in promoting Guernsey as a funds domicile to the Middle Eastern market. Guernsey has long been a popular jurisdiction among managers from the region and so the bulk of our work is about reinforcing the experience and expertise we have in the Island to service the widest range of products, including Islamic and Shariah compliant funds which are favoured by Middle Eastern investors.

"Clearly our efforts have not gone unnoticed by both industry professionals and the staff at MENA Fund Manager. This is a real boost for the team at Guernsey Finance and also the Island's funds industry more widely. Now we have to build on this success by continuing to enhance our efforts in promoting Guernsey in the best possible light to the MENA audience."

Writing the introduction to the list, Kathryn Gaw, Editor of MENA Fund Manager, noted that the funds industry has had to weather launch delays, fund closures, market volatility and company restructures over the course of one of the MENA region's toughest years.

"The companies and individuals named in the list have kept a competitive edge throughout – expanding their businesses and exploring new niches in their behind-the-scenes efforts to support and develop the industry," she adds.

The other 'offshore' organisations or individuals listed are the Maltese regulator, the Malta Financial Services Authority (MFSA) and Cheryl Packwood, CEO of Business Bermuda, who was named an industry leader for her visibility in promoting Bermuda.

Law firms Ogier and Mourant Ozannes, both of which have a sizeable presence in Guernsey, are both featured within the legal services section of the Power 50.

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