Jersey has been named as the top international finance centre at the International Investments Fund and Product Awards 2007.
The competition is one of the most prestigious in the international finance market.
Jersey triumphed over a shortlist of other international finance centres that included Guernsey, Dublin, Gibraltar, Luxembourg and the Isle of Man.
Pierre Horsfall, chairman of Jersey Finance Limited, received the award on behalf of the island.
Mr Horsfall said: "Competition amongst offshore jurisdiction is fierce but winning this award shows that Jerseyâ€™s regulatory initiatives, legislative programme and service offering have reached a standard that is helping the Island to stand out when compared to rival centres.
"I am delighted that Jerseys Finance Industry has been acknowledged in this way."
The decision-making panel was made up of 15 judges, all of whom specialised in areas of business and finance.
The judges praised Jerseys recent innovative moves and successful initiatives in remaining a leading force in managing offshore bank accounts and financial operations.
These initiatives included the introduction of Incorporated Cell Company Structure and a review of Jerseys trust law.
Jersey is widely regarded as one of the safest and most reliable offshore financial centres in the world. offshore banking here is regulated under the provisions of the Banking Business Law 1991.
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