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ARTICLE · 10 FEBRUARY 2023

Registration Of Banks In Jersey

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A summary guide of the laws and procedures relating to the registration of Banks within Jersey – a jurisdiction with a well-established reputation as an international banking centre.

JerseyFinance and Banking
James Gaudin
James Gaudin
Andrew Weaver
Andrew Weaver
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A summary guide of the laws and procedures relating to the registration of Banks within Jersey – a jurisdiction with a well-established reputation as an international banking centre.

Jersey has a well established reputation as an international banking centre and the number of banks registered in the Island remains stable. The authorities, whilst keen to promote the banking industry, are anxious to preserve Jersey's reputation for financial probity. Any bank wishing to establish a presence in the Island must register under the Banking Business (Jersey) Law 1991 (Banking Law) and the associated Banking Business (General Provisions) (Jersey) Order 2002.

Applications for registration are carefully screened in accordance with the Licensing Policy published by the Jersey Financial Services Commission (Commission) in respect of deposit-taking business. The Code of Practice for deposit-taking business, issued by the Commission and which was last revised in January 2021 (B

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