On-line financial magazine promotes Jersey's business

Linda Tsang reports

JERSEY'S finance industry has launched itself onto the Internet.

In a move believed to be the first of its kind, over 250 pages of text about the Channel Island's offshore base has been produced in an electronic magazine format called 'Jersey Offshore'. The magazine can be accessed by Internet users.

The on-line information includes a summary of legislation which is applicable to the finance industry on the island, relevant statistical data, and numerous articles on aspects of the industry's different sectors.

The island's financial services department has worked in conjunction with local company Interactive Telephony to launch the service, which also includes a corporate directory with details of finance-related companies based in Jersey, such as the Hongkong and Shanghai Banking Corporation, Midland Offshore and the Legis Group.

Director of the department Richard Syvret believes the island is the first offshore

finance centre to arrange a structured, co-ordinated and authorised overview of its

finance industry on the Internet. He says: "We are delighted that so much information about the island and its advantages as an offshore jurisdiction are now available to millions of Internet users."

Interactive Telephony managing director Nick Ogden adds that "the information can be constantly

updated as and when developments dictate".

He says: "The service provides Jersey's regulators with new channels of communication with banks and other

financial institutions, and also with potential users of the island's financial services on a global scale."

Future plans include the provision of details from other offshore finance centres as part of a global offshore index, with 'Guernsey Offshore' going on-line next month. Other jurisdictions such as Ireland, the Isle of Man and the Caribbean are expected to follow suit.

There are also plans to provide the facility for users to apply confidentially for application forms from the various financial institutions.

The department's email address is jsyfsd@itl.net.