Efficiency And Service Delivery By Offshore Firms

In the second half of the 20th century, the offshore financial services industry has registered impressive growth, a trend which looks likely to continue in the future.

Of late, changes in technology have virtually transformed the offshore sector. Global barriers have been broken down by technological innovation and the broadening of access to information. Simultaneously, deregulation has greatly facilitated the mobility of capital. The relatively poor performance of closed economies, combined with a wider desire to access global capital and technological know-how and skills, have resulted in the opening up of markets to trade and investment.

The offshore financial services sector has benefited significantly from each of these underlying trends. Offshore companies have been at the forefront of adopting the latest technology to improve communication and access to information. The result has been that offshore centres have evolved from their original purpose, which was to provide