Transparency and substance is the new staple for a modern
and successful IFC, while continuous subscription to the highest
money laundering and terrorism financing standards a
given.
There is a lot on the plate of international financial centres
(IFCs) today, mostly brought about by the winds of change from
numerous global multilateral initiatives. IFCs around the world
will need to reposition their value propositions to remain capable
of operating successfully, while creating a level of acceptability
from a reputational angle.
Moreover, the various international country groupings and
standard setting organisations/bodies have made continuous demands
to enhance transparency and sound prudential requirements for a
more equitable and fairer allocation of economic wealth, whilst
promoting international financial stability. These changes in
operating models were precipitated by unprecedented global events,
particularly after the Global Financial Crisis that erupted
