GUERNSEY - Guernsey Finance recognised for work in the Middle East

guernsey.isle-new.com -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. (source)

FRANCE - Paris seeks to become Islamic finance hub in Europe

www.zawya.com - A report prepared by KFH-Research stated that new global markets are seeking to join the main players in the Islamic financing industry and services, such as France. France is working relentlessly to make numerous legal and organizational reformations to facilitate the offering of Islamic financial services and products.
The report added that there is great potential for growth in the field of Islamic financial services in France, since France seeks to become a hub for Islamic banking in Europe. It noted that 1.5 million clients are willing to use Islamic banking tools and products, which equals USD 18.2 billion. In addition, French authorities have offered strong support to develop Islamic banking services, not to mention the high number of Muslims living there who seek Islamic banking services. However, the report mentioned that some legislations need to be amended. (source)

UK - GCC investments in Jersey total $31.37bn

The not-for-profit Jersey Finance opens Abu Dhabi office to tap Gulf wealth from family offices and high networth individuals even as currency fluctuations erode values.

As much as $31.37 billion of investment from the Gulf Cooperation Council (GCC) nations is parked on a 45-square-mile speck on the world map. (full story)