Jersey Finance: Island can provide stability

Joe Moynihan, CEO of Jersey Finance, said Jersey could "provide stability and certainty in an unstable world"

The head of the body that represents Jersey's finance industry has said the island could provide "stability and certainty" for investors in an unstable world.

Joe Moynihan, the CEO of Jersey Finance, was speaking to members at an event outlining the organisation's plans for 2025.

Mr Moynihan said while he was optimistic about the industry's future, the sector should not be complacent.

His comments came after the CEO of Jersey's government, Dr Andrew Mclaughlin, told business leaders that the "island could be a safe haven in a scary world".

Mr Moynihan said big global events were having a massive impact across supply chains.

"If you look at issues like the war in the Ukraine, the trouble in the Middle East, all of those issues have knock on effects right across the system," he said.

So, for us our stability and our platform and our reputation all combined make us pretty resilient to changes."

An independent report in 2024 by Moneyval, the Council of Europe's permanent monitoring body, found that Jersey's effectiveness in preventing financial crime was one of the highest in the world.

Mr Moynihan said while that was a very positive result it was important the island did not get complacent.

"People who are successful sometimes get complacent," he said.

"I don't think we will fall into that trap but we need strong government support from the policy perspective to deliver good quality regulation and continue to provide a platform that people will find attractive."